PGA of America to Move HQ to $520M Dallas-Area Development
- Dec 06, 2018
The PGA of America will leave its current home in Palm Beach County, Fla., to set up shop in Frisco, Texas, roughly 30 miles north of Dallas. The golfers’ association will build a 100,000-square-foot headquarters at a mixed-use development, as part of a $520 million public-private investment.
The PGA’s partners at the 600-acre mixed-use project, which will be erected on the 2,500-acre Fields site being master planned by Hunt Realty Investments, are: Omni Stillwater Woods, a joint venture led by Omni Hotels & Resorts with Stillwater Capital and Woods Capital; the City of Frisco, including the Frisco Economic Development Corp. and Community Development Corporations; and the Frisco Independent School District.
“Texans are known for thinking big, and we understood early the potential for a mixed-use project anchored by the relocation of the PGA of America, and their commitment to bring major championships to this world-class golf destination,” Robert Elliott, co-founder, Stillwater Capital, said in a prepared statement. The association will bring four championship tournaments to the city, including the KitchenAid Senior PGA Championship in 2023.
In addition to the PGA headquarters, the upscale work-play destination at Rockhill Parkway and Legacy Dr. will feature: the 500-key Omni resort, the second Omni hotel in Frisco, and 127,000-square-foot conference center; a high-tech retail village; two championship golf courses and a 35,000-square-foot clubhouse to be owned by the City; and open space and trails. OSW will invest $455 million in the acquisition of the land for the mixed-use project and development of the hotel, conference center, retail and golf courses. The PGA will shell out $30 million for the construction of its new home base, which will include a training and education facility where FISD student golfers will practice.
The long arm of the PGA
Eventually, the PGA will increase its staff from the 100 employees that will initially occupy the new headquarters to 250. However, the impact of the association’s relocation will extend far beyond the creation of new jobs. The PGA tournaments and the training facility will have an estimated 20-year direct economic impact of $342 million to the City.
“The PGA of America decision to move its headquarters to Frisco will motivate other high-quality developers to consider Frisco as their ‘new home’, as well,” Ron Patterson, president, Frisco Economic Development Corp., told Commercial Property Executive. “We’re expecting the PGA of America project will attract new business from outside the state since the brand has national, even international appeal.”
Construction of the PGA headquarters is scheduled to get underway in 2020 and reach completion in 2022, along with the remaining segments of the mixed-use project. For the next step, Patterson, said, “Development partners will be working with city staff, who will guide them through our zoning, planning processes.”