LUTZ, Fla. -- Construction on Pasco County’s largest speculative Class A office space is expected to begin in the next 90 days, according to Pasco Economic Development Council President & CEO Bill Cronin.
- Project will cost $37 million
- Buildings expected to attract companies, jobs
- Space could even be home to a company headquarters
“This, with the whole building being Class A, attracts a different type of business that really stands for quality all the way through, and might be used to that type of building in a different market,” said Cronin.
The $37 million project will include two 75,000 square foot buildings that will be built between Mettler Toledo’s new Lutz location and TRU Simulation.
Back in March, the board of county commissioners approved a $6 million loan to help Atlanta-based TPA Group with the project.
“It’s exciting to see this in Pasco County because four years ago, we weren’t even talking about it,” said BCC Chairman Mike Wells.
Wells said its estimated salaries to direct and indirect workers at the site will total more than $27 million, and the buildings could attract companies that could bring in as many as 400 jobs.
“The key here is pad-ready sites,” Wells said. “That’s one thing we’ve lacked. We need product. This will give us product. This is going to be executive-level jobs – IT, financial.”
Cronin said the space could even be home to a company headquarters.
“Headquarters are a different type of business for us to focus on, because you’re not just selling the CEO on our workforce and our low cost of doing business. You’re also selling them on our quality of life and what it’s like for them to reside here,” Cronin said.
Cronin said companies have expressed interest in the site, but he declined to name any potential tenants.
“The phone has been ringing, let me put it that way,” Cronin said. “We’ve had a number of prospective projects as soon as they announced that they were going to build the speculative office building.”