The Challenge
The City of Pflugerville sought consultants to assess and deliver its 29-acre “Downtown East,” project, a vibrant mixed-used development on city-owned land that will be anchored by a new city hall and multi-generational recreation center, as well as hosting up to 700,000 community-serving commercial development (multifamily residential, office, retail and hospitality).
Our Approach
Market Analysis
Our team conducted a detailed analysis of the current economic and market conditions within three-to-five-mile radii of the site to determine the best use (residential, retail, hospitality, office uses) for the development. The analysis also led to the creation of a development budget for public and private uses, as well as infrastructure, and a 10-year operating pro forma.
Conceptual Plan And Public Engagement
With the support of teaming partners, the team drafted a conceptual site plan that contained allowable density and infrastructure estimates that aligned with market potential. Our team supported city efforts to survey the public regarding desired uses, hosted visioning exercises and presented to a specially formed citizen committee.
Transaction Structure
Our team defined an optimal delivery method (procurement, contracting and financing) that provides the best combination of value, control and risk sharing for the City of Pflugerville.
Solicitation Development and Proposal Evaluation
In close concert with city staff, our team crafted an RFQ/P to solicit qualifications, development programs, value offers and community benefits from teams of proposed developers. Our team will lead proposal evaluation efforts, in support of the city’s evaluation committee.
Transaction Negotiation
Following developer selection, Hayat Brown will support negotiation of a Pre-Development Agreement as well as definitive Development Agreement/Ground Lease business terms. Our goal will be to imbed language within the project agreement that reflects the city’s financial and programmatic requirements, as well as the agreed upon risk allocation between the city and the selected developer.
