.png)
Development agreement details retail project, infrastructure backing
City Council unanimously voted last week to move forward with a long-discussed 60-acre retail and hotel project, expected to bring around $2 million annually and 1,300 new jobs to the city’s front door.
The city Dec. 16 approved an economic development agreement with the new Elgin Commons coming to U.S. 290, west of the Whataburger. The arrangement provides the Economic Development Corporation funding assistance for public infrastructure to accelerate construction of the project, according to director Kaley Frye.
Project developer American Ventures plans to start infrastructure work in April and open the first business shortly after.
“This is a project we’ve been meeting about for many, many years,” Frye said. “This project will also provide connectivity not only with infrastructure projects, but with roadways too.”
The development includes an estimated $200 million in construction and $14.1 million in infrastructure investment, according to the city. The EDC approved up to $5 million in incentives to help fund public infrastructure, including a wastewater line extension and up to $4.25 million in sales tax grant reimbursements tied to that extension.
Under the agreement, some pieces of construction must begin by 2027 with at least 200,000 square feet built within the first three years.
“If we’re investing in the infrastructure and in this project, we want to make sure that it’s the best benefit to the community — really helping balance that land use and maximizing a prime use of property,” Frye said.
American Ventures said infrastructure work is expected to take four to six months, with pad site buildings potentially going vertical within six months after that.
“What it really came down to was we wanted to copy and paste what Manor got and y’all didn’t get, which is that new development,” American Ventures Director of Acquisitions and Entitlements John Kaschak said. “There’s a lot of national brands showing interest in these pads.”
Once complete, the project is said to generate around $1.2 million a year in sales tax revenue, $250,000 in hotel occupancy taxes and $600,000 annually in property taxes for the city.
“Over a 30-year period, it’s about a $60 million impact just to the city of Elgin — not including all of the other entities that’ll benefit like the school district, Austin Community College and the county,” Frye said.
Council members emphasized expectations for design to fit around the small town identity of Elgin.
“I hope that aesthetically you bring something different to this development that sets it apart from looking like Manor and Pflugerville,” Councilwoman Tiffany St. Pierre said.
Kaschak said the development will be governed by architectural standards intended to run long-term with the land and give an opportunity for local businesses to take residency.
“We would love to have local businesses — we would love to have all businesses,” Kaschak said. “We would encourage local business owners to be a part of this development.”
