Waco Unveils $1.4 Billion Downtown Redevelopment Plan
Waco has officially launched a $1.4 billion Downtown Redevelopment Plan designed to transform more than 100 acres along the city’s riverfront. Spanning 12 years, the comprehensive initiative will unfold in four phases, bringing major improvements to infrastructure, greenspace, and community spaces.
Phase one, with an estimated cost of $482.5 million, will be split into two parts. The initial part focuses on enhancements to parks, floodplains, and street infrastructure. The latter portion includes a new city hall, city office complex, additional parking, and retail space.
Phase two, the most extensive with a $621 million budget, will feature a 386,000-square-foot convention center. This phase also includes a 2,000-seat performing arts venue, a digital media studio, and a black box theater. Additionally, it calls for the development of a 350-room hotel.
Phase three, at a projected cost of $168.5 million, will redevelop the Waco Square District into a vibrant new Town Center. This area will include 520,000 square feet of mixed-use space, combining retail, residential, and office developments.
Finally, phase four, budgeted at $131.7 million, will deliver a new 6,000-seat minor league ballpark, with the potential to expand seating capacity to 7,500.
The ambitious redevelopment plan reflects Waco’s commitment to revitalizing its downtown core while supporting growth and community engagement.
