A joint venture of three Austin real estate ventures has broken ground on a $250 million mixed-use project in Cedar Park, Texas. Cordova Real Estate Ventures, Riverside and Live Oak have assembled six parcels totaling 95 acres in the northeast quadrant of U.S. Highway 183-A and New Hope Drive to construct the New Hope development.
Phase one consists of three Class-A industrial buildings totaling 271,689 square feet with plans for an additional 213,700 square feet during phase two that will include entertainment venues, restaurants, retail stores, hotels as well as research and development facilities and office space. The project received $4.5 million in infrastructure reimbursement payments upon meeting certain milestones related to investment amount and job creation numbers set by developers involved with the venture partnership building this large industrial complex located near Cedar Park’s city limits .
