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Butner manager: Alls Lake Industrial project expected to total about $53.6 million and add revenue to town
Summary
Town Manager Jordan said developers intend to close on the Alls Lake Industrial site this month. The project is planned as five buildings totaling about 1.1 million sq ft, with phase two a $35.5 million investment; Jordan estimated roughly $225,000 in annual revenue to the town after incentives.
Town Manager Jordan told the council that the developers of the Alls Lake Industrial project intend to close on the property this month and that the project could be significant for the town's tax base.
Jordan said the full project is planned as five buildings totaling about 1.1 million square feet. Phase two — described as the next three buildings — represents roughly a $35.5 million investment and about 733,000 square feet; Jordan said phase two must be completed by Oct. 31, 2028 under the incentive agreement. In total he said the project amounts to about $53.6 million.
"Once past the incentive phase, [the development] brings in about $225,000 in additional annual revenue to the town," Jordan said. He added staff are finalizing an incentive agreement and that developers are completing due diligence ahead of a potential close.
Jordan also noted the utility extensions to the area are a major step forward and said utilities are being provided in coordination with the developer. He said the Planning Department is reviewing related plans and that the final recommendations from the School of Government on the town-owned Olmstead property will be heard at a Jan. 22 work session in the Camp Butner Room.
