Development & Investment Mauro Lopez
About Cedar Park
Cedar Park is a vibrant community situated on the northern border of Austin and just 17 miles from downtown. We are named for an actual park that was a rail stop in the late 1800s and were incorporated as a City in 1973. True to our namesake, Cedar Park now features 47 City parks and 22 miles of trails. Today’s population within the City limits is close to 80,000 and Cedar Park is consistently ranked by the U.S. Census Bureau as one of the Fastest-Growing Cities in the Country. We’re a bustling high-tech employer hub, too, with a median age of 34.2 years, 44.1 percent with a Bachelor’s Degree or higher and an average household income of $99,348. [Read more about Cedar Park]
A Strong Investment
The Austin Business Journal calls the Bell Boulevard District Redevelopment Project, “A game-changing project north of Austin.”
The Cedar Park community has shown strong support for the Project through various surveys, polls, meetings and a 2015 Bond Election in which 75 percent of voters approved transportation-related bonds including $20M for the realignment of Bell Boulevard.
The City has invested substantial resources into the Project. Thus far, more than $40M in public funds has been invested, and the City has acquired approximately 28 acres of property in the catalyst area.
Return rates for private investors are estimated at a strong ten percent (10%).
In January of 2019 City Council approved RedLeaf Properties as the City’s development partner. As a master developer and partner with forward-thinking public entities such as cities and educational campuses, RedLeaf is known for creating vibrant, amenity-rich mixed-use communities. RedLeaf’s developments in Central Texas includes:
serving as the master developer and partner with Austin Community College in a public-private partnership for the redevelopment of Highland Mall in Austin
co-developer for La Frontera Plaza in Round Rock
master developer for the City of Austin Planning and Development Center in Highland
prior to forming RedLeaf, Founder and Principal was responsible for the $2 billion Mueller Redevelopment while working for Catellus Development Corp.
Bell Boulevard District Design Principles
Request for Proposals
The City is using a two-step process customarily used with P3 projects where the first step requested firms’ qualifications and the second step invites those shortlisted firms to submit detailed proposals. The table below shows the anticipated procurement schedule.
The conceptual imagery shown here is what the Bell Boulevard redevelopment could look like. Visuals such as these are referred to as “potentials”—they are not intended to be literal interpretations of what the project will look like.