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Council approves $1.5M performance-based grant for 25-acre 'Project Firehouse' commercial development
Summary
Council unanimously approved a $1.5 million performance-based economic development agreement with Headwater Capital Partners (Project Firehouse) to develop a 25-acre site at 1199 Fire Lane into roughly 265,000 sq ft of speculative commercial space, with obligations for road improvements and a minimum job creation target.
The City Council unanimously approved a performance-based economic development agreement with Headwater Capital Partners for "Project Firehouse," a proposed 25-acre commercial development at 1199 Fire Lane.
Arthur Jackson, the city's chief economic development officer, described the proposal: the developer would acquire the site and build four buildings totaling about 265,000 square feet, extend Little Elm from Bell Boulevard to connect to 183A, make frontage and driveway improvements, and coordinate infrastructure for city maintenance, fire training and public-works facilities. Jackson said the developer's capital investment is estimated at $36 million.
Under the agreement presented to the council, the city would provide a $1.5 million performance-based grant conditioned on the developer meeting commitments, including creating a minimum of 10 jobs by 2030 and maintaining marketing/occupancy efforts through 2035. Councilmember motion and a second carried the item by unanimous vote.
Why it matters: The agreement uses public incentives to recruit private development that staff says will expand Cedar Park's inventory of commercial space and support job creation. The contract ties infrastructure improvements to the developer's obligations; council approved the resolution without recorded dissent.
