December 2, 2023
CEDAR PARK – Documents filed with the Texas Department of Licensing and Regulation indicate construction on CPM Development LLC’s 118-acre mixed-use project at 750 E. New Hope Dr. could begin early next year.
The project could eventually reach five million sf of commercial space.
The development is slated to have a 250-room, full-service hotel; 30K-sf convention center; 250,000 sf of retail; 700,000 sf of warehouse space; and a 500,000-sf Nebraska Furniture Mart.
Filings indicate there are two tenants lined up: Scheel’s sporting goods store and PopStroke, a miniature golf and dining concept.
In 2021, the city committed to providing $45 million in rebates to the company if they invested $400 million in the city, created 725 new jobs in the first year, and made all surrounding infrastructure improvements in return.
The entire project is expected to generate $435 million in tax revenue in its first 25 years of operation.
The project is expected to reach full completion in 2026.