Frisco, Texas is one of the fastest growing cities in the country, and now, it has another feather it can add to its cap.
The PGA of America is moving its headquarters from Palm Beach County, Florida to Frisco, where it will anchor a 600-acre, mixed-use development with an initial investment worth more than half a billion dollars.
The PGA of America will initially employ at least 100 people at the Frisco-based headquarters. Under this agreement, two PGA Championships, two KPMG Women’s PGA Championships and potentially a Ryder Cup will be held in Frisco.
This groundbreaking agreement is estimated to have an economic impact of more than $2.5 billion over the next 20 years based on a city commissioned tourism feasibility study. The study considered the economics of golf course activities, including tournaments, plus the additional impact from the new conference center.
The PGA of America is teaming with Omni Stillwater Woods (OSW), a joint venture led by Omni Hotels & Resorts with Stillwater Capital and Woods Capital; the City of Frisco, as well as its Economic and Community Development Corporations; and the Frisco Independent School District.
“Our move to Frisco will be transcendent for the PGA of America,” said Seth Waugh, CEO of PGA of America. “Everything great starts with a dream. This is the beginning of a bold, new journey as we bring together world-class partners in a world-class location – to deliver innovative and differentiated experiences for our nearly 29,000 PGA Golf Professionals, golfers of all abilities and our staff.”
Two championship golf courses, a short course, and practice areas totaling 45 holes; a clubhouse; Class AA office space; a 500-room Omni resort and 127,000-square-foot conference center; a technologically advanced retail village; parks and open space plus several miles of trails, will complement this unique, signature development.
The PGA’s Northern Texas Section will also move to PGA Frisco, where state of the art connectivity will provide opportunities to pilot promising new growth-of-the-game programming for all 41 Sections of the PGA of America.
The entire project will have an initial, estimated public-private investment totaling more than $520 million. The PGA of America will invest $30 million to build its 100,000-square-foot global headquarters and education facility. OSW will invest $455 million to purchase the land, construct the hotel, conference center, retail space, parking facilities, and golf courses. The golf course, clubhouse, practice areas and associated public facilities will be owned by the city. More than 300 FISD high school golfers will practice at the facility on a weekly basis.
The agreement calls for the City of Frisco and its development corporations (each funded by a half-cent of Frisco’s sales tax) and FISD to contribute no more than $35 million toward development of the public facilities.
The initial 25-year agreement calls for the land and conference center to be publicly owned by the City of Frisco and operated by OSW, which will pay $100,000 a year in rent to the city. That lease will increase two percent after the fifth year of the development agreement. OSW is responsible for all maintenance and capital expenses while retaining revenues. Omni Hotels & Resorts will own and operate the resort.
“For years, the PGA of America has served its membership all across the nation where they engage their local communities, and help to raise over $4 billion annually,” said Governor Greg Abbott. “The decision to relocate their headquarters to Texas because of our business-friendly climate is a welcome one. I thank the PGA of America for the new jobs and investment that they will bring to the City of Frisco, wish them continued success, and welcome them to the Lone Star State, the home of champions.”
“Today is both historic and transformational for the City of Frisco,” said Mayor Jeff Cheney. “Not only will this signature development change the future of Frisco’s northern landscape, it will transform the sport, growing a new generation of pros, fans and golf enthusiasts.”
The golf courses are expected to open in summer 2022. The hotel, convention center, and other facilities are expected to open within six months of that date. The development will host the KitchenAid Senior PGA Championship in 2023.
