CORPUS CHRISTI, Tx — The owners of Barisi Village properties received the green light from the Corpus Christi City Council when the tax increment reinvestment zone (TIRZ) #6 was passed on Tuesday, Oct. 15, while council was in session.
Councilman Jim Klein stated afterward that he had some concerns but not enough to vote against the TIRZ.
The TIRZ will have a 20-year period ending in December of 2044.
The Barisi Village is a European-style village that would be located in the city’s Pharaoh Valley area. The village will be located on the 127 acres that made up the former Pharoah Valley Country Club. The land has a Planned Unit Development (PUD) and deed restrictions that will require it to be developed as a high-density village.
Village-type development will include 1,350 multifamily units, 210 townhomes, 350 age-restricted units, 57 single-family homes, retail space, 120 key hotels and more.
The estimated timeline for the Barisi Villiage to be built is between 10 and 12 years, with an anticipated taxable value between $800 million and $1 billion.
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