Cedar Park City Council may take a significant step toward the construction of the Bell District—a planned mixed-use, pedestrian-friendly project near South Bell Boulevard—at its Feb. 27 meeting.
According to city documents, staff is recommending that council enter into a master's development agreement with RedLeaf Bell LLC and approve a project funding agreement
The master’s development agreement, or MDA, is a detailed agreement that outlines how the mixed-use project will be developed and designed. The project funding agreement would allocate $15.25 million in city economic development funding and be allocated to the developer over six years through fiscal year 2025-26.
The Bell Boulevard Redevelopment Project involves the realignment of a less than 1-mile section of Bell Boulevard, or Old Hwy. 183, from Buttercup Creek Boulevard north to Park Street. A surrounding 49-acre parcel would also be developed into a pedestrian-friendly development that includes residential, retail, restaurant and park components, according to city documents. The Bell District would also be home to the new city public library.
The total cost of the project is expected to be $350 million, with the vast majority of the cost being paid by private sources, according to the city.
In November, council approved up to $3,906,205 for the relocation of utilities along Bell Boulevard. Austin Underground Inc. is in the process of moving overhead utility lines away from the road realignment and placing them underground.
Construction on the road project is expected to begin in the spring, with completion anticipated for fall 2021, according to the city. No completion date has been set for the entire Bell District project, which is expected to take up to two decades before being completed, according to the city.
RedLeaf worked in another public-private development when it partnered with Austin Community College to redevelop Highland Mall in Austin. It was also the co-developer for La Frontera Plaza in Round Rock, according to a city press release.