‘Major project’ in the works

Sep 4, 2014
Community Impact

Pflugerville does not have six-story glass-and-steel office towers, a four-story town hall or retail-residential mixed development, but that could all change if Sunshine Village comes to town

Depictions of the development, which is called Sunshine Village and SunTech Office Park at Pflugerville Crossing, show a development that could become a hub for the city of Pflugerville

An economic impact analysis estimates the project could net the city more than $572 million in tax revenue over 10 years. The development would be divided in two pieces situated north of the intersection of Pflugerville Parkway and SH 130, just south of the Hawaiian Falls Water and Adventure Park

Floyd Akers, executive director of the Pflugerville Community Development Corp., said it is not an overstatement to say Sunshine Village could be one of the biggest development projects in the city’s history

Star Stream Capital, the development firm behind the proposed mixed-use urban project, is in the process of closing on the purchase of the two plots of land, which are divided by SH 130. The firm is also working with the city on permits, said Scott Mann, a managing director with the company

When fully built out the development could have up to $1 billion worth of capital infrastructure. Pflugerville currently has a property tax base of about $2.8 billion, Akers said

Pflugerville Mayor Jeff Coleman, City Council members, and the city manager would not comment on a potential development near the water park beyond a statement issued by Public Information Officer Terri Waggoner

According to an economic impact analysis of the project provided by Akers, “Pflugerville will rebate 50 percent of the city’s portion of sales taxes, property taxes and personal property taxes.”

The incentives could be worth $75 million, the analysis projects

Wiler & Associates Real Estate Services is partnering with Star Stream Capital and is serving as a broker on the property, said Holland Wiler, president of the firm

An 82-acre portion of the development called Sunshine Village would sit on the west side of SH 130 between Hawaiian Falls and Pflugerville Parkway. A 38-acre parcel called SunTech Office Park would sit on the eastern side of the toll road south of Hendrickson High School, Mann said. Renderings suggest the two developments would be connected by a pedestrian walkway over SH 130

Mann said the plan is to break ground on road and utility infrastructure for the site in the last quarter of 2014. That construction should take four months to complete assuming no delays. The first phase of vertical building—which would include offices and retail buildings—could be completed by the first quarter of 2016

Although Pflugerville officials would not comment on Sunshine Village, the PCDC held a public hearing on a “Project Sunshine” on July 31. The PCDC often creates code names for development projects that may receive incentives that have not been finalized

Recent projects code-named by the PCDC have included “Project Blade,” which was a wind turbine blade technology firm, and “Project Morpheus,” which turned out to be Courtyard Marriott

While discussing “Project Sunshine” to the PCDC board, Akers mentioned a possible incentive agreement to prelease 50 percent of a 150,000-square-foot, Class A office space that could be built at the corner of Pflugerville Parkway and SH 130. That location would be the same area Star Stream Capital has outlined as the site for Sunshine Village

At the July PCDC meeting, Akers’ description of a six-story glass-and-steel office building matches illustrations in Star Stream Capital’s renderings of Sunshine Village

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