Salado: Developers seek to build commercial complex on 64-acre site
SALADO, Texas (KWTX)- Salado officials are considering an agreement with a pair of developers seeking to build a commercial complex on the north side of the village.
The 64-acre Salado Center Project will house seven fast-food restaurants, two sit-down restaurants, a medical clinic and office building, a senior housing complex, a big retail shop and smaller retail shops.
“This is huge improvement for Salado,” said the village’s mayor, Michael Coggin.
“It’s going to generate jobs, it’s also going to generate tax dollars of about $500,000 per year,” he said.
The developers have already set up part of what will be a 50,000 gallon per day wastewater treatment plant.
The agreement would require Salado to purchase the plant from the developers for $5.5 million, paid over 10 years.
“It will take care of everything that’s in the Salado ETJ, north of Salado and west of Salado,” said Mayor Coggin.
The development, which is spearheaded by Celts international and Pampa Investment group, will be located at the intersection of Interstate 35 and FM 2484.
Two of the 64 acres are within Belton’s extraterritorial jurisdiction.
If Salado signs the agreement, the developers will then seek to have those two acres de-annexed by Belton and annexed by Salado.
As village leaders are in the early stages of considering the agreement, they will host a public comment session during their Board of Aldermen meeting on Aug. 5 to hear from residents.
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