November 30, 2018 Comments (0) Views: 633 Austin, Texas News

Pflugerville OKs TIRZ Status for Pecan District

The Pecan District, which is the first mixed-use development in Pflugerville, TX, will receive tax reimbursements as part of the city’s tax increment reinvestment zone, or TIRZ. The Pflugerville City Council recently amended the current TIRZ zone to include the 67-acre development.

As part of the deal, developers Presidium Group LLC and Cid Galindo will receive $45 million. In exchange, the development requires a certain amount of infrastructure improvements within the site, and along West Pecan Street.

The city’s lone TIRZ was established for developments east of SH 130. The Pecan District is located on the west side of the city, at Heatherwilde Boulevard and West Pecan Street. Developers recently broke ground on the project’s first phase, the 272-unit Elliott apartment complex.

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