American Ventures Announces Elgin City Council Approval Clearing Path for Major Elgin Development Project

AUSTIN, Texas--(BUSINESS WIRE)--American Ventures announced that the Elgin City Council has approved an Economic Development Agreement allowing the Elgin development project to move forward in partnership with the Elgin Economic Development Corporation (“EEDC”) and the City of Elgin. The approval represents a significant milestone for American Ventures and reflects the Company’s long-term commitment to responsible growth, job creation, and economic development in Elgin.

The Project is envisioned as a high-quality, mixed-use destination that will serve as a welcoming gateway to Elgin along U.S. 290. Planned elements include thoughtfully designed retail and dining options, hospitality and entertainment venues, and complementary commercial components that respond to strong regional growth and demand. The development is intended to enhance Elgin’s tax base, create meaningful employment opportunities, and provide new amenities that benefit residents, visitors, and neighboring communities.

Significant planning and predevelopment work has already been undertaken, including site evaluation, conceptual design, market analysis, and coordination with city staff and the EEDC. American Ventures continues to actively advance these efforts and remains focused on delivering a project that reflects Elgin’s vision for responsible, high-impact development.

Shravan Parsi, Chief Executive Officer of American Ventures, emphasized the company’s long-term commitment to Elgin, stating:

“We believe deeply in Elgin’s growth trajectory and in the strength of our partnership with the city and EEDC,” said Shravan Parsi. “This project represents an opportunity for American Ventures to create a landmark development that brings jobs, energy, and lasting economic value to the Elgin community, and we are fully committed to executing that vision.”

The Company looks forward to continuing its collaboration with public and private partners as it strives to deliver a high-quality, mixed-use project that brings lasting economic value to Elgin and the surrounding region.

About American Ventures

American Ventures is a privately held real estate development and investment firm specializing in large-scale mixed-use development, retail development, hospitality, entertainment, and commercial real estate projects in high-growth markets across Texas and the United States. Founded and led by Chief Executive Officer Shravan Parsi, American Ventures is known for delivering transformational developments that serve as economic catalysts for cities and regions.

American Ventures works in close partnership with municipalities, economic development corporations, and strategic partners to advance projects that create jobs, expand tax bases, attract national and regional tenants, and support long-term economic growth. With a disciplined, execution-driven approach, the firm focuses on projects that combine thoughtful planning, strong market fundamentals, and collaborative public-private partnerships.

Under the leadership of Shravan Parsi, American Ventures has built a reputation for responsible development, transparent collaboration, and a long-term commitment to the communities in which it invests.

This release contains forward-looking statements within the meaning of applicable securities legislation, including the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements included herein, other than statements of historical fact, are forward-looking statements such as projections and predictions and are subject to a variety of known and unknown risks and uncertainties that could cause actual events or results to differ materially from those reflected in the forward-looking statements. The forward-looking statements in this release include, without limitation, statements regarding expected macroeconomic and market conditions, economic impact of the project, political risk, and other known and unknown future contingencies. Often, but not always, these forward-looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations. Any forward-looking statement made herein is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.