Austin, TX
Cedar Park greenlights Texas Materials HQ move with $14M incentive deal
Texas Materials is set to move around in the suburbs after the Cedar Park City Council approved a $13.8 million incentive package for its new headquarters.
The construction materials producer and supplier committed to doubling its employees, and will move its headquarters to the new Balcones Real Estate-developed Cedar Park Town Center, according to the Austin Business Journal. In total, the company employs 3,500 at upwards of 120 sites, and will increase their headquarters’ head count to over 169 employees. The Town Center’s office facility sits at 701 Central Park Drive and they’ll occupy 48,000 square feet.
Texas Materials is currently planning to move out of its old headquarters at 1320 Arrow Point Drive and move into the new digs by May 31, 2028, according to the outlet. The lease could be set in stone by July 31.
The incentives package is contingent on Texas Materials increasing the number of employees at its new headquarters, and the company is also eligible for sales tax revenue rebates. Additionally, if any employee purchases a home or residential lot in Cedar Park, Texas Materials is eligible for $10,000, capped at $500,000, according to the outlet.
The Cedar Park Town Center is still in the process of construction, and future development phases are spaced out over the next couple of years. The town expects to have 300,000 square feet of commercial development in the area by 2032.
The Texas Triangle in general, and the Austin metropolitan area specifically, is home to some of the fastest-growing suburbs in the country. Just to the northeast, Rockpoint, LCOR and Potomac Investment Properties are redeveloping two spots on Thomas Jefferson Street to a 299-unit residential complex. At home, General Investment and Development is putting a $65 million, 194-unit apartment complex in Bell District, with construction slated to be completed in late 2028.
— Hunter Cooke
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