December 15, 2018
Groundbreaking took place on the 40,000-square-foot Texas Bullion Depository, on 10 acres in Leander, TX, north of Austin. The facility is on Heritage Grove Road near SH 183, and is scheduled to be completed in late 2019.
Lone Star Tangible Assets is overseeing construction and management of the depository, which is the first state-administered gold bullion depository. LSTA has operated a Class 3 vault in Austin, which will continue as the depository’s temporary location until the new facility is complete. MHT Constructors LLC is the general contractor.
“This vault will be the largest Class 3 vault in the state. It will weigh as much as 10 NASA space shuttles and have the capacity to hold up to $350 billion in precious metals – more than is currently held in Fort Knox,” said LSTA chairman Matt Ferris. “If market forces dictate – and we think they will – the site will have the capacity to expand by an additional 85,000 square feet.”
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