Developer confirms intention to build Pflugerville data center

Arista, however, was never the intended developer of the project. Angelos Angelou, an Austin-based development broker, created Arista for the purpose of securing the incentive package and then passing it on to an actual developer—for a profit.

Although Angelou held the rights to the incentive package, he did not own the tract of land cited for development of the project. The data center site—two tracts totaling approximately 40 acres west of the Stone Hill Town Center—is owned by local developer Terrell Timmerman.

Timmerman secured a separate incentive deal with the city that guarantees him $2 million in tax rebates if he is able to bring $25 million worth of development onto his property, which totals 350 acres.

In order to begin the data center project, a developer would need to finalize a deal that pays Angelou a fee for the city incentives and Timmerman for his land.

Angelou and PCDC Executive Director Floyd Akers cited Dimension Capital as the likely developer shortly after the project's announcement. Neary's Aug. 9 statement, though, was the first confirmation of the deal from Dimension Capital.

"Our strategy is to announce things when they are real and coming to fruition as opposed to just making a lot of noise out there, which some people in the real estate business like to do," Neary said.

Terrell Timmerman's son, Barth, said his family has yet to receive word on whether a deal is imminent.

"I have no idea—we are just a landowner holding the land," Timmerman said. "We haven't set a closing date."

Timmerman said Arista secured a contract on the property that allows it until approximately the end of the year to conduct a feasibility study.

"(Neary) is the potential buyer that is putting the deal together," Timmerman said. "If it works for him great—if not, we will still own land in Pflugerville."