Feature Illustration: Artist rendering of the proposed development by Jackson Shaw.
Georgetown (Williamson County) — Jackson Shaw, a national real estate development company headquartered in Dallas, has closed on 224 acres in Georgetown for the development of CrossPoint.
The business district is located on the west side of Interstate 35, north of the intersection with State Highway 195 and south of Country Road 143.
Phase 1 represents 61.7 acres and will be a three-building business park totaling 488,000 square feet.
Jackson Shaw plans to break ground in April with expected completion by the second quarter of 2023.
VBX last reported on the project in February when Jackson Shaw had their storm water permit recommended by the Planning and Zoning Commission.
Still in the planning stages, additional phases include the remaining 162.3 acres and are projected to have a combination of industrial, commercial and multifamily developments.
Phases II and III will include 1.7 million square feet of further industrial development. After Phase II, the project will also include 388 multifamily units and 392,000 square feet of commercial space in unspecified phases, according to a previous site plan release.
Austin-based Pacheco Koch are serving as the civil engineers and landscape architect, led by Hollis Scheffler and Anne Harman, respectively.
Diamond Realty is the equity partner and CrossFirst Bank is the lender. Joeris is the general contractor, with Powers Brown as the architect. CBRE’s Darryl Dadon and Joe Novek are managing the leasing assignment.
Onx Homes, an integrated DesignTech company on a mission to reshape the home building industry, has signed a lease for Building 1 of Phase 1 for a total of 204,000 square feet.
Onx Homes has more than 10 communities and 3,000 homes under advanced development.
“We are excited to partner with Jackson-Shaw to not only bring a quality business like Onx Homes to our northern quadrant but also to complete a major infrastructure project that will pave the way for development in this area,” Georgetown Mayor Josh Schroeder said. “The possibilities for the entire development are endless.”
“We foresee a record year for commercial real estate investment, particularly for sought-after industrial and multifamily assets,” said Grant Pearson, vice president of development at Jackson Shaw. “CrossPoint Business District is an excellent example where the City of Georgetown has remained steadfast in its focus on expanding employment opportunities while preparing for the strategic growth that everyone knows will come.”
VBX Project ID: 2022-0022
Edited from press release.