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PASCO — Construction is set to begin on a 120,000-square foot office development in Pasco County.
The $27 million project, called 54 Crossings, is being built to address growing demand north of Tampa. The developer is Rizzetta Real Estate. The office complex, off State Road 54 just east of the Suncoast Parkway, will be made up of two three-story buildings each consisting of 60,000 square feet.
The project is being built with the help of funds from Penny for Pasco, a 1-cent sales tax increase approved by voters in 2014 in part to help “fill capital gaps with loans to developers” who are building on spec.
The Pasco County Commission approved $2.94 million in incentives for 54 Crossings in 2019, according to the county’s Economic Development Council. The county will loan Rizzetta $1.5 million from its Pasco Accelerated Development Sites and Pasco Occupant Ready Structures programs, which are funded by Penny for Pasco.
The county is also agreed to rebate $1.43 million in property taxes.
According to the EDC, the project will add 400 new jobs and “provide total salaries to direct and indirect workers in the amount of $17.7 million and contribute an average of $26.5 million to the gross county product.”
A ceremonial groundbreaking is scheduled for Feb. 17.
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