Developer Launches First Phase Of Mixed-Use Project

CEDAR PARK-LEANDER, TX -- More details are emerging about a planned mixed-use development in Cedar Park after developers started the first phase of the project.

The ambitious plans for the 100-acre site off Parmer Lane call for development of retail and restaurant space, offices, walking trail network, park and food trailer court. The first phase also includes construction of a 100-room hotel and more than 300 urban lofts, according to an Austin American-Statesman report.

Austin-based Riverside Resources recently launched the first phase of the development dubbed Presidio on 26 acres off the southeast corner of Parmer Lane and Ranch Trails Court. Another 74 acres on the opposite side of Ranch Trails Court also will be developed.

Expansive acreage enables developers to build roughly 500,000 square of office space along with the other elements.

“As Austin grows, we see demand for major mixed-use and corporate campuses in strategically-located corridors throughout the region,” Riverside Resources executive Win Smith told the Statesman. “One key reason: traffic. Congestion has gotten so bad, employers want to locate where employees live but also have access to amenities.”

Smith said the project complements the area’s technology corridor continually expanding in the region’s northwest sector. The Parmer Lane site is in near proximity to major technology firms such as Apple Inc. and Google.

Despite being in its first phase of construction, the office building space already is pre-leased to American Constructors, with occupancy scheduled in the fall. By early this year, the developer expects to begin building other first-phase elements, including a 21,000-square-foot restaurant and retail sections.

Cedar Park city officials recently spurred the project along through the use of more than $400,000 in economic development incentives.