Hutto EDC officially acquires Cottonwood Properties

Mar 08, 2023
Staff Reports

The Hutto Economic Development Corporation (EDC) is thrilled to announce the EDC officially took ownership of the Cottonwood Properties on March 6, 2023. 

City Manager James Earp, acting in his capacity as CEO of the Cottonwood Development Corporation, officially signed over to the EDC the coveted 250-acre tract. This monumental signing came after the City of Hutto and EDC completed their judgement payment to Preston Hollow to release the liens on the Properties, located north of US 79 in eastern Hutto.   

With the land now free-and-clear, the Hutto EDC is actively re-engaging with interested developers. One of the many potential opportunities in advanced talks includes a grocery-anchored development, in addition to other much-needed retail growth. This would be the City’s second grocery store, and the only one north of US 79. The EDC strives to bring this and other projects to official announcement as quickly as possible. 

“The Cottonwood Properties have been on a long journey to this point, but we are thrilled to finally and officially acquire this land and truly make the most of it,” Director of Economic Development Bob Farley said. “The City and the EDC are mutually focused on responsible growth that improves qualify of life and diversifies our tax base. This site is a key part of that mission.” 

The purchase of the land comes at a pivotal time, as the EDC prepares for the annual conference of International Council of Shopping Centers (ICSC) in Las Vegas—one of the largest gatherings of retail professionals in the country. 

Cheney Gamboa, the City’s assistant director of economic development, said Hutto is ready to strategically connect with national developers and retail tenants.  

“We have engaged with a site planner on potential developments for the Cottonwood Properties, so we can showcase these concepts at ICSC,” Gamboa said. “We can’t wait to bring some strong prospects back to the Hutto community this May.” 

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