Seguin is officially putting public backing behind one of its largest commercial retail projects to date.
The Seguin City Council authorized City Manager Steve Parker last week to move forward with an economic development agreement with NewQuest for a 543-acre tract at the northwest corner of I-10 and Highway 46, within the Austin-San Antonio corridor. The San Antonio Business Journal reported that the deal advances plans for Seguin Town Center, a master-planned project that could ultimately deliver more than 600,000 square feet of retail and anchor the city’s fast-growing north side.
NewQuest, a Houston-based retail and mixed-use developer, spent years assembling and entitling large sites across Texas. In Seguin, the firm is positioning Town Center as a regional draw rather than a neighborhood strip center, city officials told the outlet.
The agreement approved by council is tied to a Tax Increment Reinvestment Zone created last year that covers the NewQuest site. Under the structure, a portion of the new tax revenue generated by development can be reinvested back into the project area. Guadalupe County has agreed to participate in the TIRZ, while Seguin is capturing part of the increment, allowing additional revenue from the site to flow into the city’s general fund.
City leaders emphasized that the incentives are fully performance-based. No upfront payments are required, and if NewQuest fails to build, the city pays nothing.
To qualify for incentives, the developer must meet minimum thresholds, including at least $75 million in capital investment, construction of at least 200,000 square feet of retail and a lease from a nationally branded anchor tenant of at least 60,000 square feet, according to meeting documents. If those benchmarks are hit, NewQuest could receive up to $23.5 million in incentive value over a 20-year term, capped at roughly 10 percent of the project’s anticipated value and limited to retail components.
Economic Development Director Alora Wachholz, who took the role in November, said the agreement signals alignment between the city and the developer and moves the project closer to construction.
NewQuest is preparing to begin infrastructure and drainage work required before vertical construction can start. Groundbreaking for the first phase of retail is expected before mid-2026, with additional tenant announcements anticipated throughout the year.
The timing reflects Seguin’s growth trajectory. The city’s population has climbed from about 27,550 in 2015 to nearly 39,000 currently and is projected to top 50,000 by 2030, according to U.S. Census Bureau estimates.
— Eric Weilbacher
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