GBT Scores $950K for Sprouts Project in Kyle
Add a Sprouts-anchored shopping center to the plethora of developments on the way to fast-growing Austin suburb Kyle.
The Kyle City Council approved up to $950,000 in incentives over seven years for Tennessee-based GBT Realty’s 41,000-square-foot retail development at the northwest corner of FM 1626 and Kohlers Crossing, the Austin Business Journal reported.
The 23,000-square-foot Sprouts and 18,000 square feet of additional retail space will be part of the Brick and Mortar District. That’s a 138-acre mixed-use development within the Plum Creek master-planned community. GBT’s shopping center will include a plaza and lawn area that could be used for live music.
GBT will receive a one-time $300,000 grant from the city in the first year, with the remaining incentives distributed as 50 percent property and sales tax reimbursements. In return, GBT agreed to meet higher architectural standards, including top-tier landscaping to align with the Brick and Mortar District. The firm also must obtain a certificate of occupancy for Sprouts by March 1, 2025.
Kyle Mayor Travis Mitchell commended the collaboration between the city and developers, emphasizing the importance of achieving specific architectural and aesthetic standards for the district.
“We’re excited about the Sprouts and some of that retail coming in,” Mitchell said. “But it’s also really important that the retail anchor project comes to fruition in a particular way to help set the tone for the Brick and Mortar District.”
GBT, known for its extensive portfolio in commercial development, is a preferred developer for Sprouts grocery stores, especially in Texas. The proposed Kyle location aligns with Sprouts’ broader expansion plan in the Austin metro, as it aims to double its store count in the area, the outlet said.
With Kyle experiencing rapid residential growth, retail and restaurant development is flourishing, attracting names like Snooze, Cava and Academy Sports and Outdoors. The Sprouts project marks the grocery chain’s first store in Hays County, adding to its existing six stores in neighboring counties.
Texas grocer H-E-B also plans to remodel its Kyle store in 2024 with an estimated capital investment of $28 million, signaling continued growth and competition in the local market.
—Quinn Donoghue
