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For Immediate Release
December 13, 2006
For more information contact :
Charles L. Simon, Pflugerville Economic Development Director
512-917-1485
charless@cityofpflugerville.com
Pflugerville Attracts One Million Square Foot Retail
Center at Vital State Highway 45 and
State Highway 130 Intersection.
Stone Hill Town Center Will Help City Plug Retail Leaks
Pflugerville, TX - Taking a monumental step toward reversing the trend of residents spending their money
in neighboring cities, the Pflugerville City Council has approved an economic development agreement
with NewQuest Properties for a one million square foot retail shopping center at the intersection of the new
State Highway 45 and State Highway 130.
Pflugerville has a real need for more retail establishments to serve its residents, but not bad enough
that we would be satisfied with a plain box surrounded by a parking lot, said Cat Callen, mayor of Pflugerville.
The agreement between the City of Pflugerville and NewQuest Properties not only provides for incentives to
the developer for putting in the one million square foot shopping center, but also sets specific standards for
the appearance of the center.
NewQuest, a Houston-based commercial developer with over 100 properties has proposed to construct and
own the Stone Hill Town Center at the southwest corner of the State Highway 45 and State Highway
130 interchange.
We knew that Pflugerville was a strong market, and would only grow stronger with the growth it will
be experiencing over the next few years, said Rene Joubert, NewQuest?s CEO. We've heard the interests
and desires of the city and it is consistent with our plans to bring an attractive and vibrant development
to Pflugerville.
NewQuest has not secured commitments from its anchor stores yet, but plans to do so in the next few months,
and projects that the first stores could open for business in spring of 2008.
For years, Pflugerville has suffered the loss of much-needed revenue that its residents spend in neighboring
cities. This spending exodus is directly attributed to the simple fact that Pflugerville has very few places
where residents can spend their money. A handful of local stores have been in operation for many years
with a very loyal community following; although they do well, their sales and the revenue they bring to
the community, pale in comparison to that of the high volume retailers spread across other areas of the region.
Knowing that all this retail activity and sales tax revenue was leaking through its borders, in 2005 Pflugerville
hired a consultant to study where its greatest leakage was occurring. That is, which goods
and services are needed by the approximately 30,000 residents of the city, but are scarcely available within
city limits. The study concluded that Pflugerville's greatest areas of leakage are in general merchandise,
electronics, books and music, specialty food stores, building materials, and restaurants. Pflugerville wanted
the leakage to stop. In light of this, NewQuest entered the picture in May of 2006 with the city's first solution.
The agreement with NewQuest is part of the City and its Community Development Corporation's efforts to
continue to grow the City of Pflugerville in a responsible manner where citizens and the revenue stream to this
fast growing community are able to sustain the substantial growth expected in the next several years.
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