“A big pain point for a lot of people here in Hutto is we don't have the resources, and we're tired of traveling to have to go and get those resources out at other cities—where those tax dollars could be spent in-house,” said Brian Thompson, HEDC board member and Place 1 City Council member.
The details
In a unanimous decision, the HEDC selected the Houston-based development company Midway. Board members cited reasons for choosing the developers included the company's vision for the property as well as the company’s dedication to risk management.
When discussing Midway’s prior projects, the subcommittee members noted the company’s emphasis on sustainability and walkability as an important component for mitigating future traffic concerns.
Additionally, board members referred to various services Midway maintained in-house, such as a chief risk officer, rather than outsourcing.
The developers also have a leasing team in-house to ensure the Hutto community is getting the retail services they need, said Erin Clancy, board member and secretary.
“They're not just about developing, but also making sure that the right mixed uses are in there,” Clancy said. “They're really involved in getting the right customer in each of the buildings.”
The HEDC and developer agreement will be a partnership, according to city documents, and not a land sale. The agreement will consist of a collaboration between the HEDC and the developer, also including room for public input.
The city of Hutto plans to secure an additional grocery store, with more comprehensive plans for Cottonwood Properties indicating a potential for retail, grocery, restaurants and entertainment on a shared site, along with residential, parkland and city facilities.
The backstory
The development of roughly 250 acres along Hwy. 79 stalled after previous plans fell through in 2021 for a nearly $800 million baseball scouting company, Perfect Game.
In March 2023, the HEDC officially took ownership of the property, forming an agreement with the city for funding, which included $6 million borrowed from the city and another $15 million in loans.
A recent HEDC purchase and sale agreement for two tracts of land on the Hutto Megasite on Nov. 13 is planned to “make significant reductions on existing debt,” according to the corporation.
Additionally, coordination and collaboration with the Texas Department of Transportation and Williamson County indicate the city’s plans for infrastructure improvements with the development of the property. Future plans for CR 132 include widening the road to six lanes with a bridge over Hwy. 79 and the railroad.
Looking ahead
While the selection for a master developer of the property is a step closer for the build-out of the property, HEDC Chair Don Carlson said it could be a year before developers are able to begin turning dirt.
Carlson noted that city permitting, leasing contracts and the CR 132 bridge are among a few of the various obstacles that could delay development.
“As a board, the more concise a vision that we have, I think, will facilitate dirt turning faster,” Carlson said. “I actually wouldn't put the onus of that so much on the developer. I put that actually on the seven people that sit up here, twice a month.”
