(McAllen, TX) Nestled in the bustling epicenter of the Rio Grande Valley, McAllen, Texas is built for business. Well known as a leading retail power-house for shoppers from throughout the southern region of Texas and northern Mexico, the City of McAllen offers investors and businesses an opportunity to partner with them and tap into a market that is growing and prospering, as evidenced by the increase in construction valuation of a whopping $350 million for the past fiscal year, up 47% for residential, commercial, and quality of life development.
“The millions of dollars being invested not only by local developers, but also by companies from around the country and the world, demonstrates that there is money to be made in our city and that McAllen is THE place to work, live and play,” said City of McAllen City Manager Roel Roy Rodriguez, P.E.
McAllen continues to lead the surge in retail sales and development along the Texas/Mexico border. The city grosses approximately $3 billion in annual retail sales tax revenue and with leading global mall developer Simon’s multi-million dollar mall expansion adding 50 stores, six restaurants and two parking decks to La Plaza Mall, it will further solidify McAllen’s status as the ultimate luxury shopping destination in deep South Texas. Other retail development throughout the city includes the Shops at 29 developed by Terracor Real Estate Services, an over 200,000 square foot shopping, dining and entertainment power center that will feature the eagerly anticipated Dave & Buster’s, slated to be open later this year. Washington Prime Group’s Palms Crossings, strategically placed adjacent to the McAllen Convention Center, is also gearing up for construction, with 580,000 square feet of retail space once complete.
In fact, McAllen is a proactive and innovative city that leverages consumer and market analytics through Buxton, a leader in the industry of site selection analytics. Through its partnership with Buxton, the city provides developers, brokers and potential businesses with access to market intelligence to better understand the current economic conditions and available retail opportunities.
Residential construction continues to grow steadily throughout the city, including 63 new subdivisions and 1,049 townhomes, condominiums and apartment complexes throughout the city, in just the last year alone. Additionally, a Texas A&M School of Engineering, BioMedical, Agriculture and Lab Sciences located within the Tres Lagos subdivision, will be admitting students later this year.
Commercial development has skyrocketed, with new offices, hotels and restaurants breaking ground or expanding to accommodate the growing need for professional office space and hospitality industries. Visitors to McAllen are able to stay in any number of new hotels, including Embassy Suites, La Quinta and Cambria Suites Hotel, adding over 500 hotel rooms to the McAllen Convention Center campus. Additionally, public-private partnerships, combined with innovation, is priority to McAllen city leaders as demonstrated by a former Walmart transformed into the world’s largest single story public library and a vacant Kmart space being redeveloped into a call center that will add 1,000 new jobs.
QUALITY OF LIFE
The City of McAllen recently opened its doors to the state-of-the-art $52 million McAllen Performing Arts Center, featuring acts as diverse as Tony Bennet and Tito Puente, Broadway’s Jersey Boys and the Moscow Ballet’s Nutcracker, as well as regular performances by the Valley Symphony Orchestra. Located on the lush grounds of the McAllen Convention Center campus, the stunning facility offers guests an opportunity to fully immerse themselves in an exhilarating entertainment and cultural experience. Along with entertainment, visitors can treat themselves to plenty of retail therapy and dining all within walking distance.
For those seeking to make their mark in business, McAllen is built for you.