The disclosure and our analysis
Evidence dates
Evidence: Texas Department of Licensing and Regulation (TDLR) project registration TABS2027002367, registered September 30, 2026; TDLR registration TABS2024018308 for Hutto 3; Skybox PowerCampus Austin brochure, undated, accessed October 4, 2026.
What the state filing shows
The TDLR registration, titled Skybox Hutto 4 Core/Shell, covers site improvements and a new core and shell building with a future use as a data center at 3399 County Road 132, Building 4, in Hutto. It describes a one story data center of about 844,300 square feet with an attached office of about 20,000 square feet, 846,300 square feet in total. [Source 1]
The filing lists an estimated cost of $550 million, a start date of January 20, 2027 and a completion date of October 30, 2028. The owner is Hutto Data Center Campus, LLC of Dallas. The design firm is Corgan. The tenant field reads not assigned, and the filing says the funds are not provided by a tenant. [Source 1]
TDLR registrations are filed for state accessibility review. They are not building permits and do not establish that construction has started.
The earlier building
A 2024 TDLR registration for Skybox Hutto 3 at the same address lists a $283.0 million core and shell building of 492,350 square feet, with construction dates of July 1, 2024 to June 1, 2026. Its owner is listed as Hutto Data Center 3, LLC. [Source 2]
The campus
Skybox markets the site as PowerCampus Austin, developed with Prologis. Its brochure describes 600 MW of total load supplied by on-site Oncor substations, two private 300 MW substations, 3,880,000 square feet of facilities and design densities of 300 to 1,000 watts per square foot. The brochure is undated, so we treat those figures as the company's marketed campus plan, not a current status. [Source 3]
Buyer analysis
This is our analysis.
**Shell cost per square foot is rising.** The filings imply about $650 per square foot for Hutto 4 and about $575 for Hutto 3. That is our arithmetic on registration estimates for core and shell work. It excludes the electrical and mechanical fit-out that drives most data center cost, and it is not a rent.
**No MW figure for the building.** The filing gives square footage and cost, not power. The campus 600 MW is a total load figure from marketing material and should not be divided across buildings.
**Unassigned tenant means a possible spec or pre-lease opportunity.** A building with no named tenant two years from delivery may still be open to a large user. Buyers in the Austin market who need capacity in late 2028 or 2029 should ask Skybox directly what power is allocated to Building 4 and when.
