Anticipated to deliver in fall 2023, the four-story Office 1 building will contain 65,000 square feet of office space and 15,000 square feet of retail space.
A 272-unit apartment complex called Presidium The Pecan District was completed last September, and several other office buildings within the 10-phase development are expected to begin construction soon.
Numbers provided by Elevate Growth Partners, one of the brokerage firms for Office 1, state office space is renting for $30 per square foot with an additional $13 for operating expenses.
Scott Studzinski of Elevate Growth Partners said as a mixed-use development, The Pecan District is one example of similar developments being built out all over Central Texas. As one example he cited upcoming Round Rock project The District, which is projected to contain 1 million square feet of Class A office, retail and residential space by 2039.
"The Pecan District is quite a cool tract, and I think it will help bridge the older part of east Pflugerville with the newer, western part of Pflugerville," Studzinski said.
When complete, early planning figures for The Pecan District state it will contain 1,280 multifamily housing units; 952,000 square feet of office space; 208,000 square feet of retail space; a 191-room boutique hotel; 1.77 acres of public plazas; and 6 acres of green space.
Mark Bulmash, president of mixed-use and master plan development for Presidium, the developer for The Pecan District, said he cannot speculate when The Pecan District will be complete, but he is hopeful it will be within the next 10 years.
Information from the Presidium states the Pecan District was first rezoned in 2016 and obtained a tax increment reinvestment zone in 2019.
"We are trying to create this walkable district," Bulmash said. "It is a new paradigm for Pflugerville. Our goal is not only to transform the western gateway to the city, but to also enhance the community. We want to establish a new walkable urbanism here."