$35 million development bringing 150 jobs planned in western Hamilton County
A national developer is planning a $35 million project on the west side of Hamilton County.
Hillwood Development Co. LLC, a Perot company, plans to build a 535,000-square-foot industrial building in Harrison. The developer has about 36 acres of land under contract at Simonson and Dry Fork roads for its planned development. The project, known as Harrison Commerce Center, would be a total investment of $35 million.
Shannon Hamons, economic development director for the city of Harrison, said the city approved annexation of the property into the city, as well as final plans and an economic incentive last week. Hillwood has committed to creating at least 150 jobs at Harrison Commerce Center.
“This is a watershed event for us,” Hamons told me. “When a Hillwood makes a decision, other people are going to notice. It puts us on the map when site selectors and consultants are looking for locations.”
Officials with Hillwood did not respond to requests for comment.
Hillwood is building Harrison Commerce Center on a speculative basis, meaning it does not have a tenant for the building. Hamons believes the building could bring many more than the guaranteed 150 jobs.
The property for Harrison Commerce Center will be included in a community reinvestment area. The city approved a 12-year, 100% abatement on improvements made to the property, but not on the land. In addition, Hillwood agreed to a 20% payment in lieu of taxes to the city, and school district.
The building is designed to be flexible, meaning it could house a single tenant or multiple tenants depending on demand.
Hamons said the developer spent a lot of time working with neighboring property owners to address concerns about the development. As part of the review process, a traffic impact study has been completed and is being reviewed by the city’s engineer and the Hamilton County Engineers Office. The Harrison Tree Board will have input on landscaping of the site.
Hamons said he expects Hillwood to submit its construction plans for review before the end of November, with construction beginning after the first of the year. He expects the project will be finished in about a year.
Hillwood, based in Dallas, is a real estate developer, investor and adviser of industrial properties. The company was founded by Ross Perot Jr. in 1988. He is the son of billionaire American businessman and former U.S. presidential candidate Ross Perot.