Lowe’s Cos. Inc. plans to open a store in Georgetown.

The home improvement center will build its first location in the suburb north of Austin at 2301 I-35, across the highway from CelLink Corp.’s manufacturing facility and just north of Costco Wholesale Corp. The store is slated to open in the first quarter of 2025, said Trent Ferrell, owner of Blue Ridge Architecture, the architecture firm tied to the project.

The new store will be approximately 120,000 square feet, he said. Other parcels built on the property will eventually house smaller retail shops.

Lowe’s (NYSE: LOW) in Georgetown will have an additional 23,000 square feet dedicated to its garden center. There will be a commercial-grade tools and equipment rental center, a feature the company recently added to some of its stores. The new Lowe’s store will be about four miles away from competitor The Home Depot.

Lowe’s representatives did not respond for comment.

Project construction is estimated to cost about $14 million, according to information from a March 27 filing with the Texas Department of Licensing and Regulation.

“Our standard price used to be for building a new store, four or five years ago, $6 million. That’s how much it has gone up,” Ferrell said.

He has worked on about 20% of the North Carolina-based company’s projects around the country. Ferrell is working on more Lowe’s stores in Houston and Dallas-Fort Worth.

Lowe’s is not the only major retailer growing in Georgetown. H-E-B plans to add a third store in the city as part of a new retail center by Barshop and Oles. Floor and Decor is also tied to a 60,000-square-foot space in the city.

Georgetown, a northern suburb in the Austin metro, reached an estimated population of 86,507 in 2022 and was crowned the fastest-growing city in the U.S.

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