Plans produced by a grouping of three Austin real estate ventures show the joint partnership is building a large industrial project in Cedar Park that will include retail as well. Cordova Real Estate Ventures, Riverside and Live Oak are looking at future phases that will include entertainment, restaurants, retail, hotels, research and development, and office space. 

The Austin Business Journal reports that the group assembled six parcels totaling 95-acres in the northeast quadrant of U.S. Highway 183-A and New Hope Drive.

The project is named New Hope – where phase one just broke ground. That phase consists of three Class-A industrial buildings totaling 271,689 square feet. The second phase calls for an additional 213,700 square feet of Class-A industrial. The project received $4.5 million in infrastructure reimbursement payments in exchange for the developers reaching milestones having to do with amount invested and jobs.