SOUTH BEND, Ind., May 13, 2025 /PRNewswire/ — Indiana-based Great Lakes Capital (GLC), in partnership with NFM (Nebraska Furniture Mart) and the City of Cedar Park, proudly celebrated the groundbreaking for a new full-service Marriott hotel and convention center in the heart of CedarView, a premier mixed-use new development in Cedar Park, Texas. This milestone event marks a transformative step in establishing Cedar Park as a vibrant regional hub for economic growth and tourism.
This dynamic project will feature a state-of-the-art hotel with approximately 297 guest rooms, a 30,000-square-foot event and meeting space, a full-service restaurant, a breakfast café, and an expansive pool area. With its luxurious amenities and thoughtfully designed spaces, the hotel is set to become a key destination for business and leisure travelers alike.
The event featured speakers Ryan Rans from GLC, Cedar Park Mayor Jim Penniman-Morin, NFM Chief Strategy & Development Officer Jeff Lind, and Srinath Kasturi, Executive Vice President with Cadence McShane Construction, the general contractor on the project. Each spoke about the excitement they have for the project and the shared sentiment of how the site will enhance the development of CedarView.
“The development of this hotel and convention center in CedarView underscores our commitment to creating vibrant, connected communities that elevate the standard of hospitality,” says Ryan Rans, Managing Partner at Great Lakes Capital. “We focus on high-growth, underappreciated markets. This is exactly where we want to be operating, where we have great community partners, strong fundamentals, and leadership with a long-term view.”
“This isn’t just about new development. It’s about delivering on a promise to our community. We’re putting Cedar Park on the map as a premier destination for meetings, events, and hospitality,” said Cedar Park Mayor Jim Penniman-Morin. The mayor’s outlook was shared by many as the discussion around the groundbreaking was overwhelmingly positive regarding the project.
“The City of Cedar Park is excited to see the realization of a long-standing strategic goal—a full-service hotel and convention center that will serve our community and attract visitors,” Brenda Eivens, City Manager of Cedar Park, said in a news release. “Our partnership with NFM and Great Lakes Capital has been instrumental in bringing this impressive Marriott project to life, further establishing the CedarView development as a premier vibrant, regional destination for economic growth and tourism.”
Construction of the hotel and convention center is anticipated to conclude first quarter 2027. The new hotel and event space will serve as a catalyst for further growth and development in Cedar Park, providing an unmatched venue for events, conferences, and everyday leisure.
About Great Lakes Capital:
Great Lakes Capital is a real estate development and private equity firm uniquely positioned to add value to real estate investments through development and opportunistic investment across the real estate spectrum and throughout the capital structure. Headquartered in Indiana, with over $1 billion in assets under management and development, GLC concentrates on several core asset classes, including mixed-use, multifamily, hospitality, industrial, medical office and other similar product types. As a market leader in new development, GLC actively addresses the needs of tenant partners in addition to speculative development meeting needs the market has not yet reacted to. For more information, please visit: www.greatlakescapital.com
About NFM
Nebraska Furniture Mart, as originally named, was founded by Rose Blumkin in 1937 in the basement of her husband’s pawn shop in Omaha, Nebraska. In 1983, investor Warren Buffett purchased a majority interest in NFM and made it part of the Berkshire Hathaway family of companies. Today, NFM is one of the nation’s largest home furnishings retailers, selling furniture, flooring, appliances and electronics. NFM currently has locations in Omaha, Nebraska, Des Moines, Iowa, Kansas City, Kansas and Dallas-Fort Worth, Texas with a fifth location under construction in Cedar Park, Texas; a suburb of Austin. For retail leasing inquiries at CedarView, contact Jennifer Petrovich at jpetrovich@cldrealty.com. For more information on NFM, visit www.nfm.com.
SOURCE Great Lakes Capital
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