Hutto Groundbreaking Puts $280 Million Data-Center Budget to the Test

Colovore plans to break ground in December on a $280 million, 192,000-square-foot data center at 2401 Innovation Blvd. in Hutto, Texas, with completion targeted for the end of 2028, according to Connect CRE. The December plan is almost exactly the footprint the firm first described, but the earlier version carried a $500 million price tag: 180,000 square feet of data center plus 13,000 square feet of flex office, about 193,000 square feet combined, meaning the building now moving forward is roughly the same size at a cost about $220 million, or 44%, lower.

Cheaper by design has been the pitch since Colovore's 2012 founding, when the company—owned by King Street Capital Management—set out to provide cost-efficient, ground-up, liquid-cooled data center capacity for customers from Fortune 500 enterprises to Silicon Valley startups amid AI infrastructure demand. The Hutto numbers put that model on the books at about $1,460 per square foot, down from the roughly $2,590 a foot the earlier description implied.

Colovore bought the 30-acre tract in July 2025, the Austin Business Journal reported in coverage carried by Connect CRE, and the land sits within Hutto Crossing, a 118-acre industrial park that a joint venture of Velocis, Ironwood Realty Partners, and MBK Industrial Properties expects to hold more than 1 million square feet of industrial space. One pad in that park is now scheduled for data infrastructure rather than warehouses, putting its capital cost onto a construction timeline.

December's groundbreaking converts a project description into committed Texas construction capital, and the budget makes Hutto worth watching as a pricing test. If Colovore delivers liquid-cooled capacity on $280 million and hits its December 2028 completion date, lean, small-footprint data-center builds will have shown they can work at industrial economics. If the budget does not hold, the original $500 million figure is the record of what the same building really costs.