Exciting Revamp in Round Rock: New Industrial Park to Transform Cypress Campus
Round Rock is all set to receive a massive boost as plans for a new industrial park are in motion after years of vacancy. A Dallas-based developer, Provident Realty Advisors Inc., has signed on to transform the once-bustling Cypress Semiconductor Corp. site, which has been dormant since 2008. After a long stretch of standing idle, this 7.6-acre property at 17 Cypress Blvd. is poised to reopen its doors in a big way.
Project Overview: What’s Happening?
So, what’s the scoop? Provident Realty has filed plans with the Texas Department of Licensing and Regulation indicating a projected start for construction in April. They plan to construct three buildings totaling an impressive 292,995 square feet for the project named “Round Rock Eagles Nest Industrial.” With a budget of about $23 million, the entire endeavor is set to wrap up by May 2026. Talk about a long-term investment!
Round Rock’s director of planning and development, Brad Dushkin, confirmed that Provident recently submitted complete paperwork for this exciting venture. The good news? The site already has the needed zoning approvals, which means no extra actions are required from the City Council or the Planning and Zoning Commission. All that’s left are some administrative approvals.
Renewal After Dark Days
Let’s take it back a bit to understand why this is such a big deal. The Cypress campus had once been a significant employment hub for the area, providing jobs for over 200 people during its 20 years of operation. Unfortunately, it closed its doors back in 2008. With that closure, an entire community saw a loss that lingered for years.
After it closed, the 98,700-square-foot facility remained on the market for about six years. It was acquired in 2014 by World Class Capital Group, which initially proposed a mixed-use development for the site. But that went awry, and by 2017, the property had changed hands yet again, this time becoming part of the Round Rock Independent School District.
What Does This Mean for Round Rock?
Now, with Provident stepping in, there’s a bright light shining on the future of the area. The addition of industrial space is more than needed in Round Rock, home to around 130,000 residents and located just north of Austin. According to data from CBRE, the city currently has about 5.3 million square feet of rentable industrial space, with a vacancy rate of 9.8%—much lower than the 13.6% rate seen citywide.
The new project is expected to not only create jobs but also invigorate the economy in the region, providing a fresh opportunity for businesses and workers alike. Provident Realty has a solid reputation; since it was founded in 1991, the company has handled developments worth over $5.5 billion across five states, primarily Texas.
Looking Ahead
As Round Rock gears up for a new chapter, the community can anticipate a revitalized industrial hub that will breathe life into this long-shuttered campus. It’s a significant step towards economic growth and serves as a reminder that every ending can give way to new beginnings.
Stay tuned for more updates as construction commences and plans unfold! Who knows, this could be the spark that leads Round Rock to a thriving industrial future!
