Austin’s Riverside Resources, one of Central Texas’ most active developers, broke ground on the first phase of a 100-acre mixed-use campus on Parmer Lane and Ranch Trails Court in Cedar Park. Phase 1, dubbed Presidio, is 74k SF of office, a 100-room hotel, 320 urban lofts and 21k SF of retail/restaurant space. The office building is 50% pre-leased to American Constructors; it's already in the dirt and will open this fall.
Riverside Resources' Win Smith tells us Presidio is designed to bring a more urban, walkable mixed-use campus to Parmer Lane and Cedar Park. That includes modern amenities like a trail system, local restaurants, a park and a food trailer court. As Austin grows, demand for major mixed-use and corporate campuses is picking up across strategically located corridors, Win tells us. “One key reason: traffic. Congestion has gotten so bad, employers want to locate where employees live but also have access to amenities. Presidio makes that possible,” he says.
The NRP Group will build the four-story, 320-unit lofts, rendered here. Upon build-out, the office building, restaurant/retail, urban lofts and hotel will be connected by a “pedestrian paseo” to encourage walking. Riverside Resources tapped Cordova Real Estate Ventures' Chris Whitworth and Mauricio Gonzalez Kane to co-develop Presidio's restaurant and retail component. The lofts and retail portions will break ground early this year. Riverside is handling office leasing in-house, and The Retail Connection's Travis Robertson will oversee retail leasing. Presidio sits on 26 acres, leaving 74 acres for a major office campus with upwards of 500k SF and enough room for additional lofts, retail and restaurants.
