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Caldwell Valley Technology Park

Tier 1B Spotlight on the Multi-Gigawatt Master-Planned Data Center Substrate

The Tract Caldwell Valley Technology Park is a master-planned data center park spanning approximately 3,000 contiguous acres in Uhland, Texas (Caldwell County) between Austin and San Antonio along the broader I-35 South corridor. The site supports up to 4 gigawatts of data center capacity at full buildout — establishing the substrate as one of the largest single master-planned data center park footprints in the United States. Tract acquired the original 1,515-acre parcel in May 2025 following an 18-month entitlement and planning process; in March 2026, Tract announced the addition of 1,458 acres of contiguous land that nearly doubled the campus footprint to approximately 3,000 acres. The Caldwell County substrate sits at the intersection of high-voltage transmission infrastructure, the Kinder Morgan Permian Highway natural gas pipeline, plus long-haul fiber routes — establishing the site as one of the most distinctive US data center substrate locations from an infrastructure-confluence perspective.

Site and Substrate

The Caldwell Valley Technology Park site occupies approximately 3,000 contiguous acres in the Uhland-Lockhart corridor of Caldwell County, located between Austin (~30 miles north) and San Antonio (~50 miles south) along the I-35 South corridor (covered at Austin-San Antonio Corridor (I-35 South)). The site's specific structural advantages combine the strategic position at the intersection of multiple infrastructure substrates that no peer Texas data center park substrate matches at comparable scale.

The infrastructure-confluence positioning operates across three primary structural categories. High-voltage transmission infrastructure provides the electrical substrate baseline supporting the prospective 4 GW data center capacity at full buildout. The Kinder Morgan Permian Highway natural gas pipeline crosses the site, supporting on-site natural gas power generation plus broader natural gas-and-LNG flexibility (a structurally distinctive advantage given the broader Texas grid capacity question — the on-site natural gas substrate enables peak-load mitigation plus supplemental and backup power generation independent of ERCOT grid capacity allocation). Long-haul fiber routes provide the connectivity baseline supporting hyperscale customer requirements. Combined infrastructure positioning supports the broader Tract Capital Management strategic framework that emphasizes shovel-ready megasites with reliable energy, fiber connectivity, plus municipal cooperation pre-established before customer deployment.

The original 1,515-acre site was provisioned for six designated buildable sites with capacity for on-site power generation. The expanded 3,000-acre footprint adds substantial buildable substrate for additional data center buildings plus broader infrastructure scaling. The site historically attracted Micron's attention as a prospective semiconductor manufacturing location before Micron settled on a New York fab site instead — establishing the broader regional substrate as one suitable for both semiconductor manufacturing and data center deployment scales. Adjacent operator concentration includes a sizable Prime Data Centers project across the road from the Caldwell Valley substrate, plus the broader Caldwell County substrate scaling that the Tract anchor supports.

Capital Reality and Operator Framework

The Tract Caldwell capital framework operates across multiple coordinated tiers. Tract has executed a Facility Design Agreement with Bluebonnet Electric Cooperative (one of the oldest electric cooperatives in Texas) plus the Lower Colorado River Authority (LCRA) for a 1.6 GW on-site substation that will scale capacity to support the broader 4 GW buildout. The first 250 MW of capacity is contracted for Q1 2028 delivery (with the full first phase 360 MW targeted for the same window). Tract has additionally initiated plans for on-site power generation that will become grid-connected — per BizJournal reporting, the on-site generation will be a natural gas plant leveraging the Kinder Morgan Permian Highway pipeline access. The combined infrastructure-and-operator framework supports the multi-phase buildout window targeting full 4 GW completion through 2030 and beyond.

Outlook

The Tract Caldwell substrate represents one of the most structurally significant emerging US master-planned data center park operations. The combination of approximately 3,000 contiguous acres at the strategic infrastructure intersection of high-voltage transmission, the Kinder Morgan Permian Highway natural gas pipeline, plus long-haul fiber, the up to 4 GW data center capacity at full buildout, the Bluebonnet Electric Cooperative + LCRA 1.6 GW substation partnership, plus the on-site natural gas power generation framework positions Tract Caldwell as one of the structurally distinctive US hyperscale data center park operations.

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