The Hutto Economic Development Corporation (HEDC) recently made the decision to proactively release a hold on a highly-coveted piece of land within the Megasite to further pursue more immediate options for Hutto. On March 6, the HEDC voted to return an escrow payment made by a company eyeing hundreds of acres of land within the Megasite for a potential project dubbed “Acropolis.”
As part of their mission to be the best stewards of taxpayer dollars and continue to bring the right projects to Hutto at the right time, the HEDC proactively decided to stop holding the land indefinitely for a company heavily impacted by market conditions and not ready to develop. However, the possibility remains to continue working with that company to find a solution in the future.
“When the market stabilizes and the company is ready to develop, we stand ready to revisit potential options across various locations around Hutto,” Economic Development Director Bob Farley said. “In most cases like this, interest may grow or fade due to factors having little to nothing to do with Hutto, but more a matter of the broader economy and market fluctuations.”
The company had previously placed $200,000 in an escrow account to essentially reserve the land for possible future development. With the land now available to other suitors, the HEDC is working multiple strong potential deals with organizations further along in their decision-making process.
“We are thrilled with the volume and quality of the prospects in serious talks with Hutto,” Farley said. “We’re seeing twice the interest in Hutto as we did just a year ago, from dozens of prospective companies of all sizes.”
The highly-coveted land associated with Project Acropolis is located southwest of the US 79 and FM 3349 intersection and accounts for about 400 acres within the 1,400-acre Megasite. Development within the Megasite continues with a 188-acre industrial park, called the Hutto Mega TechCenter, and a 220-acre data center campus on the horizon.