Hutto – ESLO. NQ2. Strat3. Chicago.
Primero. Hidden behind code names until the contracts are finalized, Hutto’s development projects represent hundreds of millions of dollars in investments. Much of that investment is happening along the highly-congested US 79 corridor.
Hutto’s city website currently shows 26 projects in the review stage and 40 projects already under construction.
While jobs are welcome, added traffic congestion and strain on the city’s infrastructure has been a topic of concern among locals.
“We just approved revised water and wastewater plans for the growth. Bonds have been sold to get things going,” said Mayor Mike Snyder. “The key here is the impact fees that these businesses will be paying. Hutto’s problem in the past was that these fees were being waived.
Now, by not waiving them, we have businesses paying for our infrastructure growth.”
Impact fees notwithstanding, larger developments still receive hefty incentives to choose Hutto for their expansion. At the Jan. 5 city council meeting, Project NQ2 and Project V cleared major hurdles when council voted unanimously to approve incentive packages. The funding is tied to performance objectives.
Project NQ2, now identified as Phase II of the Townwest Commons development by NewQuest Properties, will include over 120,000 square feet of retail, restaurant and entertainment businesses. Academy Sports, Petco and Chuy’s have been announced as potential tenants. Located on Ed Schmidt and US 79, the development hopes to generate over $40 million of additional taxable sales revenue and add over 200 full and part time jobs.
The city approved a 10-year, $4 million economic development grant and a conditional sales tax incentive totaling $5 million over a 4-year period for Project NQ2.
The city also approved a separate $4 million economic development grant and conditional sales tax incentive of $1.5 million for Project V. A family entertainment destination within the Townwest Commons, Phase II development, Project V plans a 50,000+ square foot facility, with a movie theater, bowling alley, gaming, dining and a bar. The parent company behind this business has not yet been publicly revealed.
According to the Hutto Economic Development Corporation, Project V is expected to include $25 million in infrastructure and site improvements, $20 million of capital investment and $12- $15 mi l lion of additional taxable sales revenue while adding over 40 full and part time jobs.
Another major US 79 development, Project Chicago will eventually see two new hotels anchoring a mixed-use development near FM3349 and the Hutto Megasite with an eye towards future entertainment and upscale dining venues. Each hotel is planned to have at least 126 rooms and employ approximately 30 employees. Total capital investment is predicted to be $30 million minimum.
A new project that has generated a lot of local interest is Project E, a grocery-store anchored shopping center proposed for the corner of US 79 near CR 132. Mayor Mike Snyder announced on his Facebook page that city council authorized Hutto EDC to spend up to $340,000 for due diligence and related city costs associated with pursuing the development.
“These deals are complicated and I appreciate all of the time and effort that staff and the EDC have put into working to try to get this deal over the hump so that Hutto can have another quality retail development to help to continue to lower the Hutto city tax bills,” Snyder said. He also revealed that the grocery store would not be an H-E-B.
