State
BY SHELBIE HAMILTON
Kalahari to open in Allen by 2030
The details
The resort will offer day passes and season passes for locals, and restaurants and select other amenities on site will be open to the public. As many as 1,000 jobs are expected to be gener- ated by the project and would draw workers from across the region, city documents state. “It really puts us on the map for bringing visitors and bringing in tourism dollars that we can then use to augment our local tax base,” said Daniel Bowman, executive director and CEO of the Allen Economic Development Corporation. The project would join a number of entertain- ment-focused attractions under development along the SH 121 corridor, including the Cannon Beach Surf Park, the Sunset Amphitheater and The Farm in Allen, featuring entertainment venues Chicken N’ Pickle and High 5. McKinney Mayor George Fuller said the city was in the running to have the project developed in McKinney, but that the development in Allen will still benefit McKinney residents and the surrounding community. “It drives traffic to our ... community region,” Fuller said.
Kalahari is on track to open a $950 million resort in North Texas by 2030. Company officials are looking to develop the project on a 123-acre site on Allen’s northern border with McKinney, located at the southwest corner of SH 121 and Stacy Road. Allen City Council unanimously approved an economic incentive agreement for the project at a Feb. 25 meeting, with council member Tommy Baril absent from the meeting. The performance-based agreement includes potential tax rebates for the resort company, as well as requirements for details of the project like hotel rooms and convention center space, according to a presentation at the meeting. Kalahari Resorts and Conventions is the creator of America’s largest indoor waterparks.
Proposed location
SRT TOLL
N
The family-owned company operates full-service resort properties in four states, with each offering vacation amenities as well as meeting and convention spaces. The company has one existing Texas location in Round Rock, as well as locations in Ohio, Pennsylvania and Wisconsin. The company is also developing a location in Virginia, according to its website.
The situation
The proposed Allen resort would span 1.2 million square feet, and include:
the completion of the 38-year term, the city would collect about $26 million annually in local tax revenue. The “pay for performance” rebate incentive also includes waivers of certain city fees, a grant of a 15-acre parcel on the site already owned by the city, and future bonds issued by the Allen Community Development Corpo- ration and the Allen Economic Development Corporation, city documents state. City officials are also considering establishing a public improvement district, a type of special financ- ing district, for the resort.
The economic incentive agreement for the project is dependent on performance by the developer. If resort officials meet minimum require- ments for tax payments made to the city, they would be provided a partial rebate of city taxes over the course of the 38-year deal. If perfor- mance requirements or project milestones are not met, the city would not pay out rebates and would retain the land. An estimated $390 million in new tax reve- nue would be collected by the city as a result of the agreement, city documents state. Following
At least 900 guest rooms
An indoor and outdoor waterpark
A 165,000-square-foot convention center
At least 14 food and beverage outlets, including a steakhouse
A family entertainment center/arcade
SOURCE: CITY OF ALLEN/COMMUNITY IMPACT
Looking ahead
The process will include public hearing opportunities during the zoning review and prior to a vote on the site plan by the Allen City Council. City officials also plan to collaborate with Kalahari representatives to conduct additional informational meetings for the public.
Following the project site being secured, architectural and site plans for the project are expected to take a year to create. Public outreach will begin following the initial planning phase, and the project plans will then proceed through review processes by city staff, the Allen Planning and Zoning Commission and the Allen City Council.
While the economic incentive agreement requires the project to be operational by 2033, the resort could open as soon as 2030, Bowman said. “Kalahari has exceeded our expectations in terms of direct revenue to the city, as well as growth in the area in which they were built,” Round Rock City Manager Brooks Bennett said.
28
COMMUNITYIMPACT.COM
Powered by FlippingBook