McAllen, TX, June 28, 2019 (GLOBE NEWSWIRE) —
The City of McAllen’s retail development team are attributing strong economic performance to the city’s pro-business initiatives. McAllen, located in deep south Texas on the US-Mexico border, reported a 13.7% increase in year-to-date retail sales as of June 2019. As reported by the McAllen Chamber of Commerce its highest economic index of the past five years was achieved in January 2019. McAllen has become the main retail center for a region serving over 10 million people from both nations. The city’s retail success follows its ascent as an epicenter for international trade, manufacturing, logistics, agriculture, and an emerging medical research industry.
“Investment opportunities are abundant in our bi-national market with more than $3 billion in gross retail sales every year.” said Rebecca Olaguibel, the City of McAllen’s Director of Retail and Business Development. “Large investments are coming to market at a rapid pace and we are committed to providing them with exclusive market intel to facilitate site selection.”
The city’s young and skilled workforce and strong quality-of-life factors ranked McAllen #10 in Magnify Money’s Biggest Boomtowns in America list. McAllen City leaders foster development through an exclusive retail investor empowerment program focused on expediting all projects to market.
“This is an incredible testament to the opportunity available here in McAllen,” said City of McAllen Mayor Jim Darling. “This represents the dynamic partnership that exists between the business community and local government to do the type of things that attract people and industry to our city.”
Through the retail development department, investors are provided in depth knowledge including site selection guidance, regional market research, and McAllen’s fast track development policy to expedite the process from site selection to ribbon cutting. Led by a cohesive city management team who work harmoniously with developers, this attitude and process has propelled McAllen’s continued growth and success.
“The City of McAllen is committed to providing an environment for successful developments and projects through customer friendly processes,” said City of McAllen City Manager Roel “Roy” Rodriguez, P.E. “This ensures a prosperous business environment for companies to open and expand, attracting more employees and customers. It’s a win-win for us all.”
Projects Executed Under McAllen’s New Fast Track Approach:
- 2,500-acre North McAllen Tres Lagos subdivision: Developed as a TIRZ in partnership with Hidalgo County, the development features 5,000 single-family homes, 200+ acres of public parks, pools, sports fields, playgrounds, picnic areas, and over 20 miles of hike and bike trails. Commercial development also compliments the distinctive project with an impressive 1.5 million square feet of retail space slated for the master planned community. Rounding out the amenities and convenience of this exciting development is the new Texas A&M Higher Education Center McAllen campus. Tres Lagos is one of many developments, projects and business plans that highlight just how creative the city can become when working in concert with developers.
- Simon-owned, La Plaza Mall 250,000 square foot expansion: While other malls across the country are shuttering, La Plaza’s aggressive 250,000 square foot expansion proudly showcases two new parking garages and first-to-market retail stores and restaurants, including Kendra Scott, Zara, H&M, as well as Buddy V’s, Carlos Bakery, Texas de Brazil and Yard House. As the premier retail destination in South Texas, the mall drawa over 18 million visitors from Mexico, South Texas and beyond.
- New Retail and entertainment power centers: Shops at 29, anchored by Dave & Busters, Ulta, and Burlington. Palms Crossing, a development by Washington Prime Group, now in its third phase of development, conveniently located steps away from the McAllen Convention Center, offers fabulous shopping, dining and entertainment within its 580,000 square foot campus. Along McAllen’s famous 10th Street, an eclectic six-mile stretch of home-grown restaurants and retail, there is a cafe or boutique for just about any taste. Development, growth and opportunity are on every corner in McAllen.
McAllen Investment Data
- McAllen was ranked #1 in the list of boomtown cities of rising salaries – CNBC, 2018
- Top 10 City in The US with The Biggest Influx of People, The Most Work Opportunities, and The Hottest Business Growth – ATT.NET, 2018
- McAllen MSA ranked #1 in job creation at a state level according to real estate center, 2017
- McAllen MSA is 5th largest metropolitan statistical area in Texas, surpassing El Paso
- Highest real and tax revenue in the MSA and region, State of TX Comptroller’s office