Cedar Park Paves The Way To Get Drafthouse Cinema

CEDAR PARK, TX — Cedar Park City Council members on Thursday approved an economic development agreement aimed at luring an Alamo Drafthouse Cinema location.

The agreement calls for the city to reimburse Riverside Resources an amount not to exceed $1.5 million for infrastructure improvements to Presidio Phase 2, a mixed-use development with apartment, office, restaurant and retail space to be anchored by the 10-screen Alamo Drafthouse.

The initial phase of the development opened last year on the southeast corner of Parmer Lane and Ranch Trails Court just outside the Ranch at Brushy Creek neighborhood was construction of a 25,000-square-foot office building. The site also is home to Mandola's Italian Kitchen that barely opened last month.

The agreement approved at the Thursday council meeting was hashed out last month by the city's economic development corporation calling for developer Riverside Resources Inc. to be repaid up to $1.5 million for engineering, construction, development and permit costs to the site's second construction phase.

The project's first phase consists of more than 300 urban loft units and a pair of office buildings, the 25,000-square-foot edifice that is anchored by American Constructors Inc. and a planned counterpart of some 62,000 square feet. The site also encompasses some 25,000 square feet of space for restaurant and retail use and there'e been talk of possibly landing a hotel.

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