Georgetown City Council approved an economic development agreement at its Oct. 9 meeting that paves the way for the construction of a 98,000-square-foot business park on Westinghouse Road between FM 1460 and Mays Street.
The Westinghouse Business Center will provide speculative space for a variety of commercial uses, such as medical, technology and professional services, as well as retail space.
Mayor Dale Ross said the development aligns with the City’s target industries and meets the economic development department’s strategic goal of encouraging speculative development.
“The Westinghouse Business Center is a win for Georgetown because it meets the biggest need we have, which is available space for businesses to move into quickly,” Ross said. “We identified the need for speculative development in our economic development strategic plan, and this 98,000-square-foot business park will not only provide that but also provide the type of space that every one of our target industries can utilize.”
According to the agreement, the City will provide a $500,000 infrastructure reimbursement grant to assist with the development’s cost to install utilities and a left-turn lane.
The project will be developed by TIG Real Estate Services, which has completed a similar project—Scottsdale Crossing—in Cedar Park. The groundbreaking for the nearly $16 million project is expected to be later this month with construction taking about 8 months to complete.
“TIG Real Estate Services is excited to announce the Westinghouse Business Center, a mixed-use business park on Westinghouse Road in the dynamic City of Georgetown,” said Tom Pardee, senior vice president of TIG Real Estate Services. “The park will contain office, light manufacturing and research uses in addition to two retail pads with Westinghouse Road frontage. We would like to thank the City Of Georgetown for their support and look forward to providing an employment center and participating in the continued growth of Georgetown.”