Ben White, the city economic development director, said the project is a public-private partnership. CP North Shore, the developer, will build 52,000 square feet of new construction including two restaurants and an office building, White said. The city’s Type B Community Development Corp. will be responsible for building a trailhead, expanding the sculpture garden and improving stormwater drainage on the 5.2-acre project land.
Project developer Doug Denman, the president of Worth Hotels and owner of Springhill Suites Marriott Austin Cedar Park, said this project aims to create engagement around the Town Center lake with green space along the site plan and trail.
"Pretty soon you're going to have an artistic feel all around the lake," Denman said. “Putting these restaurants there and having a place for a primary employer to land is going to continue to activate that space and bring these amenities to the citizens of Cedar Park."
The project has three phases as part of the developer’s requirements. These include:
- Phase 1: first restaurant, parking and office building parking to be completed by December 2023
- Phase 2: second restaurant to be completed by December 2024
- Phase 3: 41,000-square-foot professional office building to be completed by December 2025
Part of the agreement includes community engagement requirements before applying for development-related permits from the city, according to city documents.
The city’s Type B Community Development Corp. will purchase 5.2 acres of land from the city for $1.55 million and sell the property to the developer for the same cost. The Type B board will also install the public drainage improvements, a new trailhead, trail improvements and the second sculpture garden for $350,000.
City Council approved a resolution for the agreement and a budget amendment for the Type B board fund. Council Member Tim Kelly voted against both items.
Another agreement was approved in August for the construction of an office building and parking garage. White said the developer of that project is excited for the North Shore project and the trail to connect around the lake.