The first step in an $800 million development on North Padre Island, where Schlitterbahn once stood, was made in Tuesday's city council meeting with the establishment of the Whitecap Public Improvement District #1.
The latest version of the public improvement district adds an assessment, which is a payment which will be used to pay for public infrastructure such as roads, water lines and drainage installation.
The Whitecap Preserve will be a 242-acre multi-use project with commercial and residential development. It also is expected to have a hotel, a marina, and a nature preserve.
“This has been a concerted effort by Ashlar Development and the City of Corpus Christi,” said Corpus Christi 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 scheduled to break ground in the summer of 2022, and be developed in phases. Company officials expect the project will reach full occupancy in seven to 10 years.