McAllen, Texas is Built for Business

Written by mcallenretail on . Posted in Media Releases

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 over $600 million since 2016 in residential, commercial, and quality of life development. 

“The millions of dollars being invested by local developers and companies from around the country and the world, demonstrates that there is money to be made in our city,” said City of McAllen City Manager Roel “Roy” Rodriguez, P.E. “McAllen is THE place to work, live and play.”

Retail

McAllen is the leader in retail sales and development along the Texas/Mexico border. The city grosses approximately $3 billion in annual retail sales tax revenue with leading global mall developer Simon’s multi-million- dollar mall expansion opening in late 2017 to bustling crowds, eager for the first-to- market additional shops. The mall added 50 stores, six restaurants and two parking decks to La Plaza, further solidifying McAllen’s status as the ultimate luxury shopping destination in deep South Texas. Other retail development includes The Shops at 29, a $40 million, 200,000-plus square foot shopping, dining and entertainment power center by Terracor Real Estate Services. Located one block south of the McAllen Performing Arts Center, Shops at 29 features Dave & Buster’s, Burlington, Ulta and Freddy’s. Washington Prime Group’s Palms Crossings, strategically placed adjacent to the McAllen Convention Center, is 580,000 square feet of retail space that boasts multiple retail and dining options, with new eateries including Cowboy Chicken, Il Forno and a first-ever location for Reserva Coffee Roasters. 

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

Residential construction continues to grow steadily throughout the city, with multiple new subdivisions, in just the last year alone. Additionally, a Texas A&M School of Engineering, BioMedical, Agriculture and Lab Sciences located within the 2,500-acre Tres Lagos subdivision, will be opening its doors to students later this year. Tres Lagos, a master planned community, will not only feature state-of- the-art smart homes at every available price point, the TIRZ agreement with the City of McAllen and Hidalgo County created for the development allows for multiple parks; hike and bike trails; and volleyball, basketball, and tennis courts, to name just a few of the amenities. A charter school along with mixed use shopping centers will make this the most sought-after community in McAllen.

Commercial

Commercial development has skyrocketed, with new offices, hotels, restaurants, and even, schools and hospitals breaking ground or expanding to accommodate the growth of the city. 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 Spectrum transforming a vacant Kmart space into a regional bilingual call center that has already added 700 new jobs. Additionally, a new nursing school expansion, multiple hospital and medical center renovations and a soon-to- be completed research facility by
the University of Texas Rio Grande Valley Medical School in McAllen are spurring the medical industry growth.

Quality of Life

The City of McAllen state-of- the-art McAllen Performing Arts Center, features 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 grounds of the McAllen Convention Center campus, the facility offers patrons a chance to take in shopping and enjoy a meal before or after the show.

For those seeking to make their mark in business, McAllen is built for you.

mcallenretail

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