Whitecap Improvement District Makes Way for NPI Development
City of Corpus Christi
CORPUS CHRISTI (News Release) –The Corpus Christi City Council held a public hearing and then approved the establishment of the Whitecap Public Improvement District # 1. This is the first step in the process for a proposed $800 million development on North Padre Island. The Whitecap Preserve will be a 242-acre multi-use project located at the former site of the Waves Resort Waterpark.
Whitecap Preserve developer Ashlar Development submitted a Public Improvement District (PID) petition to the City in September 2021 and an amended petition in February 2022. The PID, at the request of the Developer, adds an assessment on the property within the district, which is used to pay for the cost of public infrastructure that benefits the properties within the district and the community at large.
Whitecap Preserve will consist of 50-acres of commercial development, and the balance will be residential, hotel, marina, mixed-use, and a nature preserve.
“This has been a concerted effort by Ashlar Development and the City of Corpus Christi,” said Mayor Paulette Guajardo. “The Whitecap Preserve will lead to sustained economic growth, upgraded infrastructure, and steer the development of North Padre Island.”
The project is anticipated to break ground in the summer of 2022 and be developed in phases. Company officials expect the project will reach full occupancy in 7 to 10 years.
