A 189-acre commercial development is planned for Bastrop County that could expand the region’s business corridor and tap into the area’s rapid population growth and ever-rising consumer demand.

The details: Tampa-based Franklin Street, a commercial real estate services firm, sold the vacant property to Cedar Creek EAT 1031 on behalf of 6682 FM 535 Associates—a sale that was announced Dec. 2.

The location neighbors a Lower Colorado River Authority substation and a $1.4 million data center campus in Cedar Creek.

What they're saying: “The opportunity to collaborate with our clients over the past several years has led to an outcome that is transformative for Central Texas,” said Marshall Durrett, Franklin Street managing director. “We were able to meet our clients’ goals and find a buyer that has a vision for the land in accordance with the growth and direction of the area.”

Construction of a new 9,200-square-foot facility for the Bastrop County Emergency Food Pantry is nearing substantial completion.

The details: In late November, contractors did the following at the site at 1201 Pine St. in Bastrop:

• Millwork
• Laid down pavers
• Completed a patio garden wall
• Installed an elevator
• Finished a storefront
• Poured concrete
• Landscaping
• Fencing
• Paint touch-ups
• Rainwater downspout installation

The Austin Theatre Alliance, which oversees the Paramount and State theaters in downtown Austin, has launched a $65 million campaign to restore the 110-year-old Paramount and reimagine the 90-year-old State Theatre.

The details: Self-described as “the city’s most iconic cultural anchors,” the organization plans to update both venues to better serve today’s community and future generations.

The Paramount will close in June for its first full restoration in more than 50 years. The eight-to-nine-month project will add modern infrastructure, new seating, expanded restrooms and concessions, Americans with Disabilities Act upgrades, improved sound and lighting, and a long-planned upstairs lounge. The State Theatre will follow with a 13-to-16-month renovation featuring an art-deco-inspired interior, flexible seating for 500, a basement speakeasy, rooftop deck, and expanded concessions.

Quote of note: “Supporting the arts and what they represent, in terms of human achievement and community, is critical. The arts highlight humanity and they make us better,” said Duff Steward, chair of the Austin Theater Alliance.

The Texas comptroller’s office has released a set of rules to govern the state’s $1 billion education savings account program, or ESAs. Accepted families will receive thousands of dollars in state funds to send their children to a private school or homeschool them.

The overview: Accredited private schools and education vendors can begin applying to join the program as soon as Dec. 9, and applications will open for interested families Feb. 4.

Most families accepted into the program will receive about $10,300 per student, which can be spent on tuition at accredited private prekindergarten or K-12 schools and related expenses. Homeschooled students will receive up to $2,000 per year, while students with disabilities will be eligible for up to $30,000 annually.

Zooming in: Depending on a family’s income, students with disabilities may receive priority acceptance into the ESA program. Families can submit documentation from a physician or the U.S. Social Security Administration to be prioritized, although a detailed evaluation and individualized education plan are required to receive the additional special education funding.