City of Cedar Park – 03/14/2019 9:13 pm
The City of Cedar Park scores with United States Tennis Association Texas Headquarters relocation to projected $1.5 billion Indigo Ridge development.
The move solidifies Cedar Park as major employment hub – with Class A office space, more professional sports, high quality jobs, dining establishments, retail shopping and entertainment opportunities.
The Cedar Park City Council voted to authorize a Memorandum of Understanding in which all parties intend to bring the United States Tennis Association Texas’ headquarters and facilities to the Indigo Ridge development. It was a unanimous vote at the City Council’s Regular Scheduled Meeting on Thursday, March 14, 2019. The tennis facility addition is a game-changer for Cedar Park. It anchors an already projected high-end Mixed Use Development with a premiere sports and athletic partner, making it unique from anywhere else in Texas. It transforms Indigo Ridge into a true “destination development” – drawing high-level athletes and sports fans from all over the country to Cedar Park, where they will stay, dine, shop and play.
Mayor Corbin Van Arsdale said, “It’s a magnet for kids, the public and professionals. It attracts all kinds of investment in Cedar Park. It’s awesome. It’s exciting. It’s a big day for Cedar Park. I’m proud of our staff and our Council for scoring a major, Class A employment and leisure hub anchored by a prominent athletic headquarters move.”
During his presentation, Cedar Park Economic Development Director Ben White took some lighthearted liberty with the subject of tennis, saying, “What makes this project an ‘ace’ is the addition of USTA Texas headquarters. We ‘love’ having the opportunity to bring a sport tourism project of this caliber to Cedar Park. When we were ‘served’ with the opportunity to bring the headquarters of USTA Texas to Cedar Park, we thought it would be a great ‘match’ with Indigo Ridge North.”
The USTA Texas Tennis Facility will be a modern tennis and sports facility anticipated to include approximately 40 tennis courts, complete with six to eight indoor tennis courts, a stadium court and related amenities for training, development and competitions. It will be owned and operated by USTA Texas.
Tom Hunt, President of USTA Texas, says, “The USTA is excited to be part of this development and looks forward to working with Indigo Ridge Development Partners to design and develop the facility.”
Indigo Ridge is a 155.05 acre tract located near the northwest intersection of RM 1431/Whitestone Blvd. and Sam Bass Road. It is a multi-phase project to include more than five million square feet of commercial and residential development including a proposed 1,600,000 sf of class A office space. Its projected value is in excess of $1.5 billion at full build-out, and will generate millions in property tax and new sales and hotel occupancy tax revenue, plus add new jobs to the Cedar Park economy. With the proposed development, the City is expecting new net ad valorem and sales tax revenues of $138 million over the first 20 years, averaging $6.9 million of net new revenues per year from the proposed Indigo Ridge development.
“With regional employment growth from companies like Dell, Google, Oracle and Emerson, and the massive nearby expansion by Apple, the USTA Tennis Center will be an added draw for future corporate relocations to Indigo Ridge” said Mike Kennedy of Avison Young, the brokers for the project.
Council Member Heather Jefts underscored the significance of the project, saying, “I have to give a standing ovation on this one. This is exciting. It’s a big deal.”
Tonight’s agreement is simply an outline of the current understanding between the involved parties. The City intends to bring a proposed 380 Economic Development agreement back to City Council for approval within the next 90 days.