What Redleaf Properties does

RedLeaf Properties is an Austin, Texas-based commercial real estate investment and development firm founded in 2009 by Matt Whelan. The company specializes in transformative public-private partnerships (P3), adaptive reuse of obsolete retail assets, and master-planned mixed-use developments serving municipal governments and educational institutions across Central Texas. Its primary customers are cities seeking to revitalize declining commercial corridors and community college districts needing affordable expansion space, with secondary end-user demand from residents, retailers, and office tenants occupying the completed districts.

The company's core portfolio includes the Highland Mall redevelopment — an 81-acre adaptive reuse of Austin's first enclosed regional mall in partnership with Austin Community College, scaling to nearly 4 million sq ft of educational, residential, office, retail, and hospitality uses — and the Bell District, a 40-acre P3 with the City of Cedar Park governed by a 20-year Master Development Agreement and approximately $350M in total investment. The City of Austin Permitting and Development Center (PDC), delivered through a joint venture with Ryan Companies, exemplifies RedLeaf's ability to deliver Class A civic facilities at lower cost and faster timelines than traditional municipal procurement. Across these and prior projects (Mueller Airport, Spanish Oaks, La Frontera), the firm reports over 5 million sq ft developed, $4.4B in cumulative project value, and 3,500 acres under development.

RedLeaf operates as a master developer earning development fees, property sales and leasing revenue, and P3 risk/reward participation. Revenue mechanics include one-time facility sales (e.g., $121M PDC sale to the City of Austin), recurring commercial leasing (e.g., Rackspace occupying former Dillard's space), and long-dated ground-up mixed-use economics shared with JV partners such as Greystar for multifamily components. Go-to-market is field-sales driven through competitive procurement (RFQ/RFP) processes with public entities, supplemented by JV partner selection for specialized delivery capabilities. The firm is privately held and founder-controlled, with no disclosed institutional capital, and concentrates exclusively on the Central Texas market.

Name

Redleaf Properties

Legal name

RedLeaf Properties LLC

Website

https://redleaf-properties.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

RedLeaf Properties is an Austin, Texas-based commercial real estate development firm founded in 2009 that specializes in transformative public-private partnerships, delivering large-scale adaptive reuse and mixed-use developments for municipal governments and educational institutions across Central Texas.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Real Estate Property Managers (53131), Management of Companies and Enterprises (55)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532), General Bldg Contractors - Nonresidential Bldgs (1540)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Urban Planning & Master Planning (BPAHAKAD), Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

Keywords

• Public-private partnerships
• Mixed-use development
• Adaptive reuse real estate
• Master-planned communities
• Commercial real estate development

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Development Fees: Earns development fees as master developer for P3 projects. For PDC project, RedLeaf and Ryan Companies delivered the facility and the City purchased it upon completion for $121 million.
2. Property Development and Sales: Develops residential units (1,200 planned at Highland), retail spaces, and office buildings for sale or lease. JV partnerships with Greystar for residential development share economics.
3. P3 Revenue Sharing: Under MDA agreements with cities like Cedar Park, shares in risks and rewards of development. City benefits from increased sales and property tax revenue from redevelopment. Total investment of approximately $350 million at full build out for Bell District.
4. Leasing Revenue: Commercial and retail leasing at Highland includes approximately 800,000 sq ft office, 75,000 sq ft retail, and 1,200 apartments. Rackspace and other tenants occupy former retail space.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Redleaf Properties operates as a master developer for transformative public-private partnership (P3) real estate projects, specializing in the adaptive reuse of obsolete commercial assets and the delivery of large-scale mixed-use districts for municipal and educational clients. The firm executes the full lifecycle — land assemblage, master planning, design and engineering oversight, infrastructure construction, and commercial/residential build-out — and earns revenue through development fees, build-to-suit facility sales, long-term P3 revenue sharing under Master Development Agreements, and joint venture economics with operating partners.

Product overview

RedLeaf Properties is a Texas-based commercial real estate investment and development company formed in 2009, specializing in transformative public-private partnerships. The company operates as a single unified offering focused on large-scale, mixed-use development projects rather than a platform-plus-modules architecture. Their core portfolio includes education-anchored mixed-use redevelopments (Highland Mall), civic/commercial public-private partnerships (The Bell District, City of Austin PDC), and master-planned community developments. Projects are delivered through specialized P3 structures with public sector entities including cities, educational campuses, and community colleges. With over 5 million sq. ft. developed and $4.4B in project value across 3,500 acres, the company combines entrepreneurial creativity with corporate discipline in Central Texas real estate development.

Differentiator

Problem solved

Functional benefit

Products and services

• Highland Mall Redevelopment Adaptive reuse and master-planned redevelopment of Austin's first enclosed regional mall (opened 1971) into an 81-acre education-anchored mixed-use district. Delivered through a public-private partnership with Austin Community College, transforming the site into residential, office, retail, hospitality, and educational uses with signature parks and trails.
• The Bell District A 40-acre walkable mixed-use public-private partnership with the City of Cedar Park, TX. Transforms Bell Boulevard into a vibrant destination with high-density residential, ground-floor retail and restaurants, 16 acres of greenspace, a public library, and urban brownstones, with approximately $350 million total investment at full build-out.
• City of Austin Permitting and Development Center (PDC) A 251,000 sq ft Class A office facility delivered through an innovative public-private partnership with Ryan Companies. The City of Austin purchased the building for $121 million upon completion, serving over 900 city employees and consolidating permitting and development review services.
• Austin Mueller Redevelopment (Master Development Services) 700-acre mixed-use public-private development at the former Robert Mueller Municipal Airport, a $2 billion project delivered as master development services.
• Spanish Oaks Mixed-Use Golf Course Development 1,300-acre mixed-use development featuring golf course, retail, multi-family, commercial, and residential uses with protected open spaces.
• La Frontera Plaza (Round Rock) Co-development project in Round Rock, TX as part of Redleaf's Central Texas portfolio of mixed-use developments.
• Build-to-Suit Office Development 100,000 sq ft build-to-suit office development with creative business model approach to ensure optimal space utilization for tenants.

Quantifiable outcome

• $30 million saved and 2 years faster construction for City of Austin PDC compared to traditional municipal building process
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core, major, supporting and minor.

• City of Cedar ParkcoreStrategic or Co-development Partner · 1 February 202020-year Master Development Agreement for Bell District transformation. Public-private partnership to create 40-acre vibrant, walkable mixed-use destination with ~16 acres greenspace, public library, restaurants, residential, and commercial. ~$350 million total investment with majority from private sector.
• Greystar Real Estate PartnersmajorStrategic or Co-development Partner · 1 January 2017Joint venture partnership for residential development at Highland. Delivering 390 apartment units in two four-story buildings plus 25,000 sq ft ground-floor retail. Part of broader Highland mixed-use district development.
• Austin Community College (ACC)coreStrategic or Co-development Partner · 1 January 2009Flagship P3 partnership formed in 2009 to transform Highland Mall into ACC's 11th campus. ACC purchased ~18 acres initially, expanding to full 81-acre site. RedLeaf serves as master developer. Project includes nearly 4 million sq ft of residential, office, retail, hospitality, and educational uses. $250,000 scholarship fund established for single mothers.
• Ryan CompaniescoreStrategic or Co-development PartnerJoint venture partnership to develop City of Austin Permitting and Development Center. Ryan Companies served as general contractor for 251,000 sq ft Class A office facility. Project delivered on time and under budget. City purchased building for $121 million upon completion.
• CBREsupportingImplementation/ SI/ Consulting PartnerServed as City's development advisor on PDC project, helping City determine needs and manage competitive procurement process that selected RedLeaf and Ryan.
• La Frontera Plaza, Round RockminorStrategic or Co-development PartnerCo-developer for La Frontera Plaza in Round Rock, TX. One of RedLeaf's prior Central Texas development projects.
• RackspacesupportingChannel Partner/ Reseller/ DistributorSan Antonio-based cloud computing company occupying former Dillard's space at Highland (570 employees). Partnered with ACC to offer paid internships to students. Tenant/anchor in Highland redevelopment.

Scale indicators6 records

Recent moves7 records

Expansion highlights3 records

Emerging players

• Macerich: Mall REIT actively pivoting dead mall assets toward mixed-use redevelopment. Comparable adaptive-reuse challenge and overlapping mall-transformation thesis with RedLeaf's Highland playbook.

Broad incumbents

• Brookfield Properties: Large diversified mixed-use developer with P3 capabilities. Adjacent competitor at the upper end of the master-planned community market where RedLeaf hopes to grow.
• Trammell Crow Company: Major national commercial real estate developer with deep mixed-use and build-to-suit practice. Competes for the same institutional and municipal mandates but at far greater scale and geographic breadth.
• Lincoln Property Company: Large national mixed-use and multifamily developer. Overlaps with RedLeaf on residential and mixed-use components within master-planned developments.
• Greystar Real Estate Partners: JV partner on Highland residential (390 units). Largest U.S. multifamily operator and developer; comparable in residential component but a broader incumbent in property operations.

Direct peers

• The Howard Hughes Corporation: Master-planned community developer (The Woodlands, Bridgeland, Summerlin). Closely comparable operating model of owning and developing large mixed-use districts over multi-decade horizons.
• Edgemoor Infrastructure & Real Estate: Specialist P3 developer of civic and institutional facilities (courthouses, municipal buildings). Direct competitor for the same government-backed development mandates RedLeaf pursues.
• Ryan Companies: National developer that co-developed the City of Austin PDC with RedLeaf via JV. Operates a comparable mixed-use, build-to-suit, and P3 development model serving civic and institutional clients.
• Catellus Development (a Prologis business): Matt Whelan's former employer, where he led the $2B Mueller redevelopment. Runs the same master-developer / public-private partnership model for large-scale mixed-use redevelopments.

Regional players

• Stream Realty Partners: Texas-based commercial real estate services and development firm. Competes for similar institutional and office build-to-suit mandates within the same Central Texas market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/in/matt-whelan-46a52a15

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Redleaf Properties