City Of Cedar Park: City Takes First Step Toward Securing $400M+ Development

Press release from the City of Cedar Park:

12/09/2021 8:00 pm

Click here or on image above for printable quick facts on the project [PDF]

Click here or on image above for printable quick facts on the project [PDF]

The Cedar Park City Council has approved a master development agreement (MDA) with CPM Development LLC, which plans to build a hotel and convention center anchored by a super-regional retail and entertainment destination near US 183A.

The City Council’s unanimous vote to approve the agreement on Thursday evening marks a crucial first step toward the City securing the 117-acre development that is expected to generate $435 million in net new city tax revenue within 25 years of opening. Terms of the agreement call for the project to be anchored by NFM (Nebraska Furniture Mart).

“This development is a once-in-a-generation opportunity to dramatically expand Cedar Park’s commercial tax base with a single project,” said Cedar Park Mayor Corbin Van Arsdale. “This also gives Cedar Park the hotel and convention center we’ve wanted for a long time, to help attract more visitors and provide a much-needed venue for large gatherings so that locally-organized events don’t have to be held outside of our community.”

This press release was produced by the City of Cedar Park. The views expressed are the author's own.