UPDATE 7/14: The deal was approved by City Council on July 13. Construction of first phase of the project, which includes 1.3 million square feet on 120 acres, is expected to begin this summer with a groundbreaking ceremony on August 11 at 9 a.m. on the site. The project’s location provides excellent highway visibility and access, proximity to an abundant workforce, and easy connectivity to the region. For more information on the project, visit hillwoodinvestmentproperties.com.
The City of Cedar Hill is in negotiations with Hillwood for the High Point 67 project. The project, located on S. US-67 south of Mt Lebanon Road, would be a Class A logistics and manufacturing center with up to 2 million square feet on 180+ acres. The first phase of the project includes 1.3 million square feet on 120 acres. The project is expected to generate more than $75 million in capital investment, $100 million in new taxable value, and support the creation of hundreds of jobs in Cedar Hill.
Hillwood Project On 67
Hillwood, founded by Ross Perot, Jr., is ranked as one of the top industrial, commercial, and residential real estate developers in the country. The company’s founding project, AllianceTexas, has been hailed as one of the best mixed-use developments in the world. We expect that the quality and high profile of the High Point 67 project would be a catalyst for the area, attracting additional high-quality development.
Because of the significant benefit to the community, the City and the Economic Development Corporation (EDC) are negotiating incentives to the developer to build this project in Cedar Hill. The incentives are performance-based, which means that the developer must meet certain benchmarks, milestones, or criteria important to the City in order to receive the incentive. Performance-based incentives help ensure that the ultimate benefit to the City far outweighs the cost of the incentive. The Cedar Hill City Council is expected to consider the agreement this summer.
Increasing Commercial Property Tax Base Will Benefit Cedar Hill
City Councilmember Chad McCurdy recently shared in a Cedar Hill Facebook group, “I have received some questions about a new development coming to Cedar Hill. Hillwood development, which is Ross Perot’s company, is going to construct a large warehouse type facility along the Eastern Side of Hwy 67 next to the JC Penny warehouse. Unlike chicken restaurants we did actually recruit them to come to Cedar Hill and we have provided incentives. Those incentives are heavily conditioned though on the types of jobs created. Hillwood does not receive most of the incentives unless they create at least 70 jobs paying $100,000 per year. This is something I argued for extensively as we negotiated the terms of the deal.
This building will add about $75 million to our commercial property tax base which will help us maintain the stable city tax rate we have enjoyed over the last 10+ years. Whatever business ends up locating here will also have Business Personal Property and potentially inventory that will also add to the tax base. This is going to be very important as we deal with inflation in the coming years.”
Cedar Hill Mayor Stephen Mason
Cedar Hill Mayor Stephen Mason said, “This is an exciting time to be in Cedar Hill. The City’s long-term investment in premier infrastructure, services, and amenities are paying dividends in high-quality industrial, commercial, and residential development opportunities. The High Point 67 project is an excellent example, and we are thrilled that Hillwood, a world-class industrial and commercial real estate developer, is looking to join our community.”
If the city council approves the deal and the developer meets the required benchmarks/criteria, the following incentives would be provided:
- The EDC will reimburse a portion of the public infrastructure costs for the project.
- The City will waive a portion of capital impact fees for the project.
- The City will offer a property tax abatement for the project.
In addition to industrial development, Cedar Hill’s location, natural beauty, and quality of life have attracted a diverse business community – the city has more than 3 million square feet of retail and Class A office space. The Cedar Hill Economic Development Corporation works to attract, retain, and expand businesses in Cedar Hill through incentive programs, marketing, and businesses assistance.