A new 108-acre mixed-use commerce center, which includes investments from Hillwood Properties, a Fortune 500 company, will be coming to Kyle in the near future.
The new development will be located in Kyle on the west side of I-35 between Loop 4 and Kyle Crossing.
Formally named the Hays Commerce Center, the 108-acre space will include two spec buildings, around 200,000 square feet each, called the Hays Logistic Center. The entirety of the space will be zoned for industrial and manufacturing type industries.
The entire development was made possible by the partnership with Hillwood Properties, HPI Real Estate Services & Investments, Kyle Economic Development and The Greater San Marcos Partnership.
The partnership is part of the city’s economic development strategic plan, which outlines Kyle to be a hub for a hi-tech manufacturing and industrial workforce.
“We want to become a major force as an employment center for high paying jobs,” Diana Blank-Torres, Kyle Economic Development director, said. “Having a Fortune 500 company invest in the city means really big things for us in the financial world. I’m excited to see this project come to Kyle.”
Kim Hilsenbeck, communication specialist for the City of Kyle, said Hillwood Properties has invested in smaller cities that has left a positive impact on the economic sector.
With around 85 percent of residents from Kyle commuting outside of the city every day, this development will bring high-paying, career jobs to the area, she said.
“Our goal as a city is to be a location where you can enjoy a high quality of life while being able to work within your community,” said Kyle Mayor Travis Mitchell in a statement. “The availability of speculative space in Kyle enhances our ability to attract and retain employers of choice.”
The new development would not have been possible without the triple freeport tax exemption offered by the city, Hays County and Hays CISD, said Blank-Torres.
Under a triple freeport tax exemption, a businesses or company does not have to pay an inventory tax on qualified freeport goods that leave Texas within a 175-day period. With the Hays CISD passing the tax exemption in 2017, the final piece of the puzzle was connected to make the development possible.
Blank-Torres said most communities in the state offer the exemption, leaving Kyle at a disadvantage for not offering the tax exemption.
“I think this project represents a turning point in the development patterns in Kyle,” Mitchell said at the groundbreaking event. “In this complex alone, we have Alsco under construction and now Hillwood and HPI are investing considerable money, with some risk, because they believe Kyle is finally ready for a large scale industrial space. We are ready.”
