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Developer says Pecan District plan will be amended to reflect post‑pandemic office market; comprehensive update expected by fall
Summary
Presidium told the TIRZ board it will pursue a PUD amendment for the Pecan District after concluding that the original entitlements relied too heavily on speculative office; the developer said it plans to decouple office from other asset classes and expects to present a more detailed, finance-backed plan by the fall TIRZ meeting.
Michael Piano, a representative of Presidium, updated the Tax Reinvestment Zone No. 1 board on the status of the Pecan District and described why the developer intends to pursue an amendment to the original planned-unit district (PUD).
Piano said the initial entitlements relied on a financing model that assumed a larger speculative office component than the current market supports. "We didn't quite get the entitlements right, and we need to redo them," he told the board, adding…
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