Feature Illustration: The Elliott, a Presidium and Cid Galindo co-development. Courtesy: Mark Odom Studio.
by Adolfo Pesquera
Pflugerville (Travis County) — Cid Galindo and Presidium broke ground on The Elliott, the first of the multi-phase development known as The Pecan District.
The co-developers proposed the $1.2 billion Pecan District to the Pflugerville City Council in the summer of 2017. They originally sought establishment of a tax increment reinvestment zone on a 45-acre site in order to cover the estimated $102 million cost for a civic building and structured parking. Another $15.5 million was sought through creation of a municipal utility district to provide 10 acres of open space improvements, roads and underground infrastructure.
City Council did not agree to the TIRZ until just last week, and within the amended TIRZ the boundaries were expanded to 67 acres. Terms of the TIRZ describe a total build out for the first five of ten phases as more than 1.58 million gross square feet of residential, retail and office space.
Phases 1 through 5 are to provide 862 residential dwelling units by 2025, according to the TIRZ agreement. However, Presidium has set a goal of building 1,150 units. The Elliott is expected to be ready for occupancy in 2020, providing affordable housing and offering 274 spacious one- and two-bedroom units.
Site plan for Phase 1, The Elliott. Courtesy: Mark Odom Studio.
Designed by Mark Odom Studio, each home will average 855 square-feet and be equipped with modern fixtures and expansive balconies. These three- and four-story urban garden-style buildings will provide residents with access to surface parking with available covered parking options, a state-of-the-art gym, coworking-themed business center, resort-style pool, outdoor kitchen area and frontage on a one-acre park.
Located at the corner of Old Austin Pflugerville Road and South Heatherwilde Boulevard on the city’s southeast side, Pecan District is situated within the highly-rated Pflugerville Independent School District and in close proximity to local parks and recreational areas with walking paths, local grocery stores, retail, restaurants and a movie theater.
Within the confines of the TIRZ agreement, the developers agree to build at least 135,095 square feet of retail and 321,806 square feet of office space. However, Presidium intends to construct up to 228,000 square feet of retail and restaurant space, and 998,000 square feet of office space.
“With this 45-acre property having previously been untouched by development, we have been conscious of the surrounding community and existing local ecosystem since the project began. These efforts included rescuing many different species of native plants from the project site and transplanting them to more sustainable locations,” said Cross Moceri, co-CEO and co-founder of Presidium.
Cid Galindo, the co-developer, is founder of First Venture Property Management, an affiliate of Bryan-based The Galindo Group.
Master Plan for the entire Pecan District development. Courtesy: Presidium.
Reimbursable TIRZ costs include $23.7 million for structured parking, plus $21.5 million for infrastructure in the form of 3,000 linear feet of stormwater lines, 4,300 linear feet of wastewater lines, 5,000 linear feet of two-lane roadway. Open space improvements include a “festival street”, a fountain plaza, playground, amphitheater, native plant paseo, and streetscape improvements such as trees, lighting and other amenities.
One of the conditions of the TIRZ is that no more than 500 residence units can be built until at least 50,000 square feet of commercial space is built.
The site plan describes four parking garages:
- Phase 2 Garage: 372 spaces in a 111,825-square-foot structure
- Phase 3 Garage: 491 spaces in a 147,500-SF structure
- Phase 4 Garage: 493 spaces in a 148,080-SF structure
- Phase 5 Garage: 540 spaces in a 162,250-SF structure
Presidium is a real estate investment, development and property management company with offices in Austin and Dallas. Its portfolio is valued at over $1.5 billion.
The Elliott. Courtesy: Mark Odom Studio.
This article was edited from a Presidium press release and City of Pflugerville documents.