Negotiations are underway for a European-style development. This is what's in play.

Shown is a conceptual rendering of the planned Barisi Village, proposed to be a mixed-use development that would be constructed on the former Pharaoh Valley Golf Course.
Contributed Graphic/Courtesy of City of Corpus Christi

Corpus Christi Caller-Times
Kirsten Crow, Corpus Christi Caller Times
November 16, 2023

Work is underway to broker a tax incentives agreement for a mixed-use development on what is currently fallow land, and previously a long-abandoned golf course.

City officials are working on a preliminary project and financing plan for what has been described as a European-styled development known as Barisi Village, a project that was first proposed roughly a decade ago.

Under the current proposal, documents show the 127-acre former Pharaoh Valley golf course vastly redeveloped, to include construction of about 350 single-family homes, 1,350 multifamily units and commercial space, coupled with public amenities such as a nature preserve, plazas, sport courts and a bell tower, records show.

The former Pharaoh Valley tennis courts on Tuesday, Nov. 15, 2023, in Corpus Christi, Texas.
Angela Piazza/Caller-Times

Nueces County – among the taxing entities requested to participate in a tax incentives agreement – has shown early signs of interest, with commissioners whose precincts include portions of the property speaking Wednesday in strong support of it.

The proposed project would be an opportunity to further connect and revitalize the space, said Nueces County Commissioner John Marez, adding that should financing come together it would be “an excellent addition to fixing up that once-vibrant area.”

He noted that Jeff Blackard, CEO of Blackard Companies, previously developed the Lighthouse Point Apartments on North Beach.

“I know this would be a great surge of attention and focus on more people wanting to move, develop, rebuild in subdivisions that are surrounding that area,” Marez said of the Barisi Village proposal. “It’s going to capitalize not only for your property, your investment, but obviously all the areas around.”

It’s anticipated that should the development reach fruition, it would represent a taxable value between $800 million to $1 billion, according to public presentations.

Blackard has requested creation of a tax incentives reinvestment zone – an economic agreement with taxing entities in which a portion of property taxes collected within a prescribed area are used to cover costs for certain improvements within the boundaries of that area.

In total, the requested $82.6 million in tax incentives would be divvied up between three taxing entities via reimbursements for eligible projects over a 20-year period, according to documents.

Records show certain infrastructure, public parking and public areas such as the plazas, bell tower, sports courts and nature preserve among projects proposed to be eligible for tax incentive funding.

The request to the city would be for as much as $44 million of the $82.6 million, officials have said.

Nueces County, too, is being asked, as a taxing entity, for tax incentives of as much as $21 million, according to a presentation made to commissioners Wednesday.

Doing so would likely involve the county entering into an interlocal agreement – the actual zone and the actual funding would be in the control of the city, officials said.

What’s being requested of the city is “a larger ask” than those requested in any of the city’s other TIRZs, said Heather Hurlbert, city of Corpus Christi assistant city manager – both in contribution amounts and in terms of projects considered eligible for reimbursement.

The City Council had discussed the proposal in executive session Tuesday.

The item was allowable for private conversation based on a provision in the Texas Open Meetings Act addressing economic development and tax incentives.

It’s anticipated there will be negotiations with the developer regarding a potential agreement, Hurlbert told commissioners, adding that there were a couple of items that “the council is not wanting to move forward with as far as reimbursements.”

“This is an area that does need to be redeveloped,” she said. “It is a great redevelopment process. We’re just going to walk through the asks.”