Pflugerville Mixed-Use a 'Game Changer'Pflugerville Mixed-Use a 'Game Changer'https://www.recenter.tamu.edu/news/newstalk-texas/?Item=103492015-02-13T10:27:00Z2015-02-13T00:00:00Z

The project, which includes Sunshine Village Town Center and SunTech Office Park, spans 119 acres on the east and west sides of SH 130, south of the FM 685 intersection.

With a $600 million initial investment, the development calls for multiple hotels, 22 restaurants and at least 413,000 sf of retail.

Developers told the city council they expect to complete the project by 2020.

According to an economic impact study by Austin-based Impact DataSource, over 30 years this development will bring an estimated $1.5 billion total revenue stream, after all incentives are paid, to area taxing entities. The project is also expected to generate more than 9,000 direct and indirect jobs.

Under an agreement approved last month by the city council, the developer will pay for approximately $85 million in necessary infrastructure. In addition, the city will receive a one-time $200,000 payment from the developer, and the developer will allocate $12 million toward development of public facilities. The developer will cover the cost of 4.3 miles of reuse water lines and 4.1 miles of wastewater lines from the city's wastewater plant to the site that expands the city's water abilities. The city estimates an additional $350,000 a year in revenues from the expanded water reuse system. The city will receive 25 cents for every city property and sales tax dollar generated by the development.

In return, the developer will receive a 75 percent refund in property and sales tax up to $303 million from the city over 30 years.

"This lifestyle center is a game changer for Pflugerville that will further enhance our community," Pflugerville City Manager Brandon Wade said. "We will receive roadways and an expanded wastewater and reuse water system which allows us to be even more water conscious than we already are."

Austin-Round Rock
http://www.kcentv.com/story/28085229/major-mixed-use-development-a-game-changer-for-pflugervilleRead more at {Source}

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