Four master developers competing to be selected to develop the Cottonwood Properties presented their qualifications to the Hutto Economic Development Corporation (HEDC) Board of Directors on Tuesday, Nov. 14, bringing development of the highly-coveted tract of land one step closer to fruition.
Representatives from the four companies in competition – CSW Development, Midway, Momark Development, and Red Oak Development Group – each pitched their experience and portfolio while explaining why they should be selected to work with the HEDC in transforming the 250-acre site just north of US 79 and west of CR 132 into a mixed-use area fit for Hutto.
After discussion, the HEDC Board narrowed their options down to two and formed a subcommittee to meet with Midway and Momark to receive more detailed and confidential information regarding land and site planning, as well as financial structuring. After meeting with both development groups, the subcommittee will make a final recommendation to the full Board. The subcommittee is aiming to make their recommendation by the end of the 2023 calendar year.
The HEDC Board’s vision for the Cottonwood Properties heavily aligns with the City of Hutto’s SOAR 2040 Comprehensive Plan as it pertains to mixed-use development in the City. Both Midway and Momark were selected to advance because of their history with mixed-use developments similar to the Cottonwood Properties, which could include retail, grocery, restaurants, and entertainment co-existing with some residential, parkland, and City facilities.
Regardless of which group the Board chooses, the agreement between the HEDC and the developer will likely be a partnership, not a land sale, meaning there will be extensive collaboration between the HEDC and the developer, including the opportunity for public input, as the property comes to life over the next 10 or more years.
The HEDC Board, City Staff, and the community at large will all have the ability to provide feedback to ensure that development plans meet the needs of Hutto residents and remain aligned with the SOAR 2040 Comprehensive Plan.