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Best Buy headed for 10th and Trenton - 10/2/2006
(McAllen-Edinburg-Mission: Retail)(McAllen) - The Plaza Del Norte shopping center, is set to be built at the corner of Trenton Road and 10th Street by next summer. Best Buy and an unnamed department store are slated to anchor the 45-acre shopping center at the intersection's northwest corner. A bookstore, linens store, houseware store and pet supply store are listed as possible major tenants for the location

Valley construction still sizzling - 9/22/2006
(McAllen-Edinburg-Mission: Housing)News of a declining home construction front is starting to sound like Chicken Little to local home builders. The latest national U.S. Census Bureau estimates show the number of residential building permits taken out in August was down 6 percent from July and at its lowest levels since 2003. But to local builders those numbers look more like a falling acorn than a crystal ball. "The construction level, in Texas, is still going about the same pace as last year," said Jim Gaines, a research economist at Texas A&M University's Real Estate Center in College Station. "The general slowdown that is being reported by the national press doesn't appear to be present in Texas." In fact, new homes are still hot in the Rio Grande Valley. The McAllen-Edinburg-Mission metropolitan area had 4,603 new residential construction permits from January through July of this year, according to Texas A&M University's Real Estate Center. It is about a 10 percent increase over the same period last year. Major developments are being planned in Edinburg, Pharr and Alamo and home builders said smaller developments have not lost their momentum. In June, McAllen-based Obra Homes opened the new phase of a large development called Saddle Creek off North 29th Street and Oxford Road in McAllen. "We had that opening back in June and we had probably 60 plus registered buyers," said Jaime Garza, Obra Homes' marketing director. "There is no lack of interest in the market place here." A strong job market and cheap land is helping to fuel the sustained home growth, said Ramiro Garza Jr., executive director of the Edinburg Economic Development Corp. The Valley's lack of a housing bubble has also helped regulate the market and avoid letdown, said Gaines. With land prices relatively low throughout the Valley, building a home is more affordable and buyers are not restricted to existing homes on the market. But that could hurt builders if the market does slow, he said. "I would say right now in Texas the real risk is that we've got, is that if builders are a little slow to react, we might find ourselves in a slightly overbuilt situation," he said. Some builders, however, said they can already see some signs of a slowdown. "Right now the home market in the Valley is still going well, but it's been slowing down," said Onesimo Martinez, owner of Designer Homes in McAllen. "I think it's due to the higher interest rates and the price of property has gone up," he said. But Gaines said the area shows all the necessary signs to keep a strong construction market; a growing population, cheap labor and a strong economy. However, he said he predicts the market may start leveling off by the end of the year.
[McAllen Monitor]

Valley among least expensive places to live - 9/17/2006
(McAllen-Edinburg-Mission: Economy)The Rio Grande Valley's three largest cities are among the nation's least-expensive places to live, according to a recent index compiled by a national economic development research organization. It costs less for more affluent middle-class people to live in McAllen, Harlingen and Brownsville than it does in many other areas of the United States. The low cost of living also makes it easier for the cities to attract investment, development professionals said. The second quarter 2006 ACCRA Cost of Living Index places McAllen as the fourth least expensive urban area in the United States, with a cost of living more than 16 percent below the national average. For April, May and June, Harlingen ranked tenth, at 15 percent below the national average. Brownsville, while not cracking the top ten or ranked on the list, wasn't far behind at more than 13 percent below the national cost of living. "You all are across the board an enviable place to live," said Sean McNamara, administrative director for the Arlington, Virginia based, Council for Community and Economic Research, a research association that produces the index, which charts prices for housing, utilities, groceries, transportation, healthcare and other goods and services. The index measures the cost of living for a household where at least one person earns between $70,000 to $100,000 a year. This group of households is in the top fifth of the professional and managerial income bracket that includes entry-level executives and project managers. Many people in the Valley don't fall into that group, but they are nonetheless tied to the reasons why money earned by the more affluent stretches further. Cheap labor is a major factor in keeping the Valley's cost of living down, local economic experts say. The Valley's relatively young population is also a factor in the area's low cost of living. But in the Valley, demand for construction, retail and services workers is high because those sectors are booming, Jose A. Pagan, an economics professor at the University of Texas-Pan American, said. That demand can increase wages. So, whether the cost of labor increases or decreases in those sectors depends on whether the demand for labor is stronger than the supply of workers. The Valley's lack of a strong union presence also helps keep labor costs relatively low, he said. If the area's unemployment rates continue to fall, the area's cost of living should rise compared to the national average because it will be harder for employers to fill positions, and they will have to offer better wages, Pagan said. For now, the Valley's low cost of living is a selling point for cities trying to attract business. "That's obviously one of the big factors when bringing companies into the area," said Orlando Campos, director of recruitment and development with the Brownsville Economic Development Council. Firms that relocate to the area have the option of paying lower wages to adjust for the lower cost of living than they would in other areas of the nation, he said. Keith Patridge, president and CEO of the McAllen Economic Development Corp., added that the low cost of living also benefits Winter Texans and other retirees, a group that brings millions of dollars to the Valley economy. "From a fixed income standpoint, it's a very attractive thing," he said.
[Brownsville Herald]Sales taxes in McAllen continue to rise - 9/15/2006
(McAllen-Edinburg-Mission: Economy)McAllen's revenues surged to $4.12 million from $3.56 million over the same period. So far this year, the city has collected $22.8 million, up from $20.3 million last year at this time. The following lists city sales tax comparisons for August. *Brownsville: $2.38 million (2006), $2.06 million (2005), 15.7 percent gain. *Harlingen: $1.38 million (2006), $1.27 million (2005), 8.5 percent gain. *McAllen: $4.12 million (2006), $3.56 million (2005), 15.6 percent gain. Texas Comptroller Carole Keeton Strayhorn reported that the state collected $1.64 billion in sales tax last month, a 10 percent rise from the previous month.
[Brownsville Herald]Weslaco opens spec buildings for business - 9/15/2006
(McAllen-Edinburg-Mission: Industrial)(Weslaco) - The City of Weslaco has unveiled two new facilities, hoping to attract businesses looking for affordable options to building ownership. The 3,000- to 5,000-square-foot buildings will be leased to smaller businesses seeking a centralized location in the city's Mid Valley Industrial Complex. Hernan Gonzalez, Executive Director at Weslaco EDC, said the buildings consist of well-constructed "shells" of buildings that are easily expandable to accommodate various uses. The location is strategically useful as the industrial complex is positioned to accommodate any customer distance in the Valley.
[Rio Grande Business Weekly]More stores revealed for Mercedes outlet mall - 9/13/2006
(McAllen-Edinburg-Mission: Retail)(Mercedes) - Rio Grande Valley Premium Outlets mall announced 50 more stores set to inhabit the 54-acre facility just 50 days to go until its opening. The announcement - including A'Gaci, Aeropostale, Carter's and Perry Ellis - comes a little more than a week before a job fair in Mercedes to hire many of the 800 to 1,200 employees they'll need to serve the millions of visitors expected each year. Simon properties, the mall operator, announced the first 14 stores last month. The 403,000-square-foot mall is scheduled to open Nov. 2. The remaining 40 or so stores should be announced in the coming weeks.
[McAllen Monitor]Mercedes outlet mall will need employees - 9/13/2006
(McAllen-Edinburg-Mission: Employment)(Mercedes) - Rio Grande Valley Premium Outlets mall announced 50 more stores set to inhabit the 54-acre facility. It is estimated that 800 to 1,200 total employees will be needed to serve the millions of visitors expected each year to the facility. The 403,000-square-foot mall is scheduled to open in early November.
[The Monitor]9/11 Moves business to Valley area - 9/10/2006
(McAllen-Edinburg-Mission: Economy)When shipping restrictions went up in Long Beach after 9/11, many Asian manufacturers decided it was easier - and faster - to ship goods to Mexico's western coast then truck them through central Mexico and into Reynosa. Long Beach had been the key distribution center for goods coming into the country, and in many ways still is. But when security concerns slowed down business and paperwork mounted, some manufacturers had to shake up the way they had done business for years, making the Rio Grande Valley a crucial stop for goods coming into the United States. "We are seeing a lot of companies doing North American distribution through the Rio Grande Valley," Keith Patridge, president and CEO of the McAllen Economic Development Corporation. The economic aftermath of the Sept. 11, 2001, terror attacks stunned the national economy overall, but losses in other parts of the country helped the Rio Grande Valley become a powerful industrial center. In the rest of the country, national unemployment rates soared after the attacks to 6 percent in 2003, the highest in ten years, and growth in U.S. exports dropped below zero in 2001. At the same time, unemployment rates in the Rio Grande Valley continued to dip and have been declining ever since, now at a record low 7.1 percent, about 2.1 percent lower than before the attacks. Tax revenues, bank receipts and other economic indicators show a similar surge. There were some immediate problems due to security concerns, but those have since disappeared. Truck traffic entering the United States at the Hidalgo International Bridge dipped in 2001 by about 6,000 vehicles from the previous year, mostly from tighter security at the border in the months following 9/11. Traffic quickly rebounded the next year, though, to a record of 390,000, according to the U.S. Department of Transportation, and increased each year since to 491,000 in 2005. But the biggest changes for maquiladoras are the increased security at the border. Customs broker Jim McNamara of Maquilogistics said the added restrictions and security measures have increased the time it takes to cross the border, threatening revenue. And many maquilas have had to adhere to new sets of government rules to travel across the border frequently.
[The Monitor]STC campus upgrade to fit 3,500 students - 9/5/2006
(McAllen-Edinburg-Mission: Education)(Weslaco) - The entire city is watching as South Texas College's Mid-Valley Campus expands and reshapes the center of town. "It's getting rid of facilities that were part of our old economy and giving them new life," said Hernan Gonzalez, executive director of the Weslaco Economic Development Corp. "A college is important to a community, but it is also a major employer, a purchaser of goods and services." Monte Churchill, site coordinator, said the campus is expected to fit about 3,500 students in the fall semester. The campus has more than 40 acres bordered by West Huisache, North Border Avenue, U.S. Business 83, and Calle de Colorado and has enough room to accommodate students for at least the next five years. The most visible progress is at the intersection of U.S. Business 83 and North Border Avenue across from the post office. A paper warehouse and barbecue restaurant that once sat on 2.5 acres is being demolished to make way for parking and green space. The college spent about $1.2 million on the property and demolition. The college is also spending $489,000 on a parking lot on its eastern side accommodating 212 vehicles.
[McAllen Monitor]Pharr Value Place opens doors to extended stay property - 8/30/2006
(McAllen-Edinburg-Mission: Hotel)(Pharr) - A Value Place extended stay hotel is now open in Pharr, Texas - the first for the area and the fourth for the state. The 121-unit extended stay property is located three miles west of the McAllen-Miller International Airport at 207 W. Expressway 83, at the Sugar Road exit. Weekly rates are $179. Three other Value Place extended stayed properties are currently open in Lubbock, Killeen and Brownsville. Two additional Texas properties are under construction in Harlingen and Fort Worth.
[Company News Release]$1.25M to South Texas border project - 8/28/2006
(McAllen-Edinburg-Mission: Infrastructure & Transportation)Border communities McAllen and Mission will receive $1.25 million in federal funding to help the cities make ongoing infrastructure improvements in support of the Anzalduas International Crossing. The Anzalduas International Crossing is a bridge project that will be jointly undertaken by the communities of McAllen, Hidalgo and Mission. The partners designed the project - with the backing of the U.S. and Mexican governments - to ease traffic congestion between the two countries. The entire project will span 2.7 miles. It will have two northbound lanes, two southbound lanes and a pedestrian walkway. The bridge should open by 2008. The federal investment should help create 81 jobs and leverage $2.6 million in private investment.
[San Antonio Business Journal]Edinburg firefighters use GPS to change traffic lights - 8/27/2006
(McAllen-Edinburg-Mission: Infrastructure & Transportation)(Edinburg) - Edinburg Volunteer Fire Department has installed a new system installed that allows fire trucks to give themselves green lights en route to emergencies. With a high-tech flick of a switch inside any of the city's 17 trucks, a signal is transmitted through a Global Positioning System (GPS) to satellites that tell the other end of the system - posted on ten intersections throughout the city - not only how far away the fire truck is, but also how quickly it is moving. The system will change the light before fire crews reach the intersection and then return the crossroads to normal rotation after the truck safely passes through. The system should help alleviate the common panic drivers feel when stopped at an intersection with a screaming, flashing truck coming up behind them. Now, instead of drivers making the mistake of inching into the intersection - into oncoming traffic - to make way for fire crews, cars traveling the same direction as the trucks can enjoy the same green light and safely move out of the way. So far, the system has cost the city about $115,000.
[McAllen Monitor]Hidalgo courting stores - 8/27/2006
(McAllen-Edinburg-Mission: Retail)(Hidalgo) - Hidalgo, the city of almost 11,000 that hosts millions of travelers each year crossing in from Reynosa, is gearing up for its very first full-service supermarket and a fast-food restaurant. The 25,000-square-foot Hidalgo Supermarket slated for the city is going up on the corner of 15th Street and El Texano Drive, east of downtown and is expected to be ready for customers in early November. Just down Highway 281, Stars Restaurant is building its first location in Hidalgo. The fast-food spot should also open in November and employ between 30 and 40 people.
[McAllen Monitor]Hidalgo location draws Titan expansion - 8/27/2006
(McAllen-Edinburg-Mission: Industrial)Hidalgo's location on maquila routes has drawn Titan Industrial Development to expand an existing development on International Boulevard west of Dodge Arena. Titan Industrial Development chose to expand an existing development on International Boulevard west of Dodge Arena. Titan is using 60 acres to build facilities for light manufacturing and distribution. The location is on the main route for maquila managers and truckers going to Reynosa and back.
[Brownsville Herald]Future neighborhood breaks ground - 8/24/2006
(McAllen-Edinburg-Mission: Housing)(Edinburg) - La Sienna, a 700-acre development in the city's north side, ceremonially broke ground last week. It will take at least seven years to completely finish the project at the intersection of Monte Cristo Road and U.S. Highway 281 behind the Flying J Travel Plaza. The development will be home to municipal police and fire substations, commercial businesses and at least 1,400 Spanish Colonial homes. The project will attract at least 4,500 residents and spur additional growth in the city. Some lots should be available for purchase in the first quarter of next year, said Kent Burns of SKC Development. The first phase calls for 97 homes, with Dan Sitterle Homes Inc. of McAllen building about 70 of them. Home values should begin at $140,000.
[McAllen Monitor]Edinburg construction activity $113 million - 8/24/2006
(McAllen-Edinburg-Mission: Economy)(Edinburg) - Edinburg is poised to set another record for total construction during a calendar year, with the latest figures from June showing that the three-time All-America City has seen almost $113 million in building activities midway through 2006. That figure compares to $87.5 million in total construction activities during the first six months of 2005. The construction of new commercial facilities leads the way between January and June, approaching almost $46 million in activities, according to the Edinburg Economic Development Corporation, while new homes built at that period were valued at almost $38 million. During the same six-month period last year, Edinburg had reported almost $25.4 million in new commercial buildings and more than $36.3 million in new homes. Those figures do not include the value of any construction activities at the University of Texas-Pan American. For the month of June - the latest report compiled by the city's Code Enforcement Department - Edinburg reported almost $11.7 million in new commercial construction, lower than the almost $16.4 million mark set in June 2005. However, home construction for June 2006 was slightly ahead of the pace a year ago, with the latest figures showing $7.3 million in new homes built in June 2006, compared to $6.7 million the same month last year.
[Edinburg Economic Development Corporation]McAllen Industrial Market Overview - 8/22/2006
(McAllen-Edinburg-Mission: Industrial)According to Verde Corporate Realty Services, as of Q1 2006, McAllen's industrial market size was 15,785,171 square feet with a market occupancy of 97.8 percent. As of first quarter, the market has absorbed 301,624 square feet and has an average rental rate of $4.00 per square foot, up from $3.96 in 2005. Currently, 204,000 square feet of industrial space is under construction, with another 1,131,560 square feet planned. For Q1 2006, the market has already delivered 47,000 square feet of space.
[Texas Real Estate Business]The Economic Development Corporation of Weslaco - 8/21/2006
(McAllen-Edinburg-Mission: Economy)(Weslaco) - Economic development organizations are finding ways to attract and retain the companies they seek. The population of Weslaco, Texas, measures only 30,000 strong but the trade area population, which is about 200,000, shows just how successful the city's economic development efforts have become. The Economic Development Corporation of Weslaco assists new businesses by creating jobs, attracting investors and creating wealth. The companies that the Economic Development Corporation of Weslaco retained during the past year include Woodcrafters, a cabinet and vanity manufacturer, which created 350 jobs; International Wood, a wood finishing company that created 125 jobs; and Southern Mechanical Air Conditioning, a commercial Air Conditioning, Heating and Ventilation contractor that created 40 jobs.
[Texas Real Estate Business]Valley Housing market shows healthy signs - 8/21/2006
(McAllen-Edinburg-Mission: Housing)(McAllen) - According to the McAllen MLS Residential Housing Activity report, dollar volume for home sales in June 2006 was $34,140,000, an all-time high. For the month, 261 sales were reported with an average price of $130,800 and a median price of $107,000.
[Rio Grande Business Weekly]H-E-B Plus Superstore opens in Rio Grande City - 8/21/2006
(McAllen-Edinburg-Mission: Retail)(Rio Grande City, Starr County) - In Rio Grande City, home to about 13,000 people, the area's second big-box grocery store opened its doors. The Rio Grande City location is now the biggest H-E-B in the Rio Grande Valley. The new store, about 112,000 square feet and employing about 350 people, is about three times as large as the old grocery store in Rio Grande City. The location of the new H-E-B Plus is set to serve the entire region.
[Brownsville Herald]

New Wal-Mart in the works for McAllen - 2/3/2006
(McAllen-Edinburg-Mission: Retail)(McAllen) - Ewing Construction Co. of Corpus Christi is building the Rio Grande Valley's newest Wal-Mart SuperCenter at the northeast corner of Nolana and 29th Street. The 203,000-square-foot location is expected to open this fall. The new SuperCenter will be a relocation from the current Wal-Mart store at 23rd Street and Nolana. McAllen's third Target store, scheduled to open this fall, is going up nearby at Nolana and Ware Road. Target stores typically employ about 200 people. Ewing Construction also built the Valley's first Kohl's department store at the Trenton North shopping plaza on North 10th Street in McAllen. That store opened in October with more than 200 employees.
[The Monitor]Officials negotiating to construct $17M complex - 1/14/2006
(McAllen-Edinburg-Mission: Retail)(Alamo) - City officials are negotiating with a Dallas-area real estate developer to construct a $17 million medical and commercial complex on Tower Road, just south of Expressway 83. Under the proposal presented this week, Guiding Angels Inc. in Addison would develop 200,000 square feet of commercial space to house medical clinics, doctors' offices, restaurants, retail shops and even a six-screen movie theater, according to City Manager Luciano Ozuna Jr. Construction is expected to take between a year and 18 months, but first the city must work out a sale price for the 20 acres of land, which sits behind City Hall and is valued at roughly $330,000. Under the project's first phase, which accounts for roughly one third of the total commercial space available, Guiding Angels estimates 115 new jobs. Guiding Angels reports it already has commitments from tenants to fill 45 percent of the commercial space.
[The Monitor]Palms Crossing shopping development planned - 1/12/2006
(McAllen-Edinburg-Mission: Retail)(McAllen) - P.F. Chang's China Bistro, Carrabba's Italian Grill and BJ's Brewhouse are three of the seven new tenants confirmed for a $17.2 million shopping development on South Ware Road and U.S. Expressway 83. The city of McAllen sold 70 acres of the land - adjacent to where the new $38 million McAllen Convention Center is under construction - to Simon Property Group Inc. for the company to build an approximately 600,000-square-foot Palms Crossing shopping development. Simon expects to break ground in the summer and complete construction in time for Palms Crossing to open some time in 2007.
[The Monitor]Edinburg to see slew of new businesses - 12/6/2005
(McAllen-Edinburg-Mission: Retail)Major Texas-based and nationally known businesses plan to open locations in Edinburg in the next two years. Trenton Crossroads Plaza at the northeast corner of Trenton Road and Jackson Road will be home to Quizno's Subs, Applebee's, CVS Pharmacy, Big Apple Bagels and Alamo Drafthouse. Alamo Drafthouse will be Trenton Crossroads' anchor. The six-screen business will occupy 30,000-square-feet of the 101,653-square-foot development, said Paul Garza, the developer of Trenton Crossroads. Katy-based Academy Sports & Outdoors has tentative plans to build a 100,000-square-foot structure at the southwest corner of Trenton Road and McColl's intersection. The other end of Trenton Road is expected to be the location of a new retail development opening in late spring or early summer 2007. Edinburg's planning and zoning commission gave initial approval to changing the zoning of 61.25 acres at the northwest corner of Trenton Road and U.S. 281 from single-family residential to general business district.
[The Monitor]Health and spa plans booming in Edinburg - 12/5/2005
(McAllen-Edinburg-Mission: Retail)In early January, Six Hundred Plus, a combination gym and spa on Trenton Road in the Cornerstone development is opening. Six Hundred Plus is a 24,000-square-foot two-floor gym-spa. Pump Inc. will open the 6,000-square-foot Pump Diva for women and Pump Core at the intersection of Freddy Gonzalez Drive and Sugar Road in February. By next November, Pump Kids will open a 10,000-square-foot in an upscale shopping development at the corner of Trenton Road and McColl Road. Pump Burn in The District may be open by next spring at the corner of McColl Road and Fern Avenue in McAllen.
[The Monitor]McAllen/Mission retail market - 12/1/2005
(McAllen-Edinburg-Mission: Retail)The retail market has been strong along the United States/Mexico border, with the McAllen/Mission MSA having the largest increase in activity. It is anticipated that all the developments will break ground within the next 12 to 18 months. Vacancy rates in the prime retail centers in McAllen and Mission are less than 10 percent. The northeast quadrant of Sharyland area's Hunt master-planned community of residential and industrial development has a 500,000-square-foot retail power center being developed by Weingarten/RIOCO. The northwest quadrant of Expressway 83 and Shary Road has a new The Home Depot with pads including a national bank and a Denny's Restaurant as a neighbor. The hard northwest corner is being developed into a pad site for Chase Bank. The southeast quadrant has attracted a Bed Bath & Beyond contiguous east of the Wal-Mart SuperCenter. There are more than 500 acres just south of Wal-Mart that are being positioned for commercial development. The new Anzalduas International Bridge is projected to be completed by the fourth quarter of 2007. A new loop from the Monterrey-Reynosa Toll Road to this bridge will expedite the crossing time for Mexican shoppers. The city of McAllen has sold off the northeast corner of the Expressway 83 and Ware Road intersection for a Simon power center. The southwest corner of Expressway 83 and Ware Road has a 16-acre tract that is under contract and being developed into a hotel/retail site with more than 250,000 square feet to be leased or sold. At the southwest quadrant development at Expressway 83 and Jackson Road, new activity is expected on a 12-acre tract being marketed by a local hospital on the northwest corner of Jackson and Jackson, to the north of Best Buy. The northwest corner of North McColl and Trenton is being developed by Davis Real Estate and will be anchored by a Wal-Mart SuperCenter with shadow boxes and pad sites. This area will have more than 250,000 square feet of retail space. Weingarten/RIOCO is developing the northeast corner of Nolana and North 29th Street, which spans 40 acres. AMREIT is developing a 30-acre tract on the northeast corner of North 10th and Dove. In Mission, on the new North Conway Corridor, a 40-acre tract has been developed at North Conway and Three Mile Line. In Edinburg, on the northeast corner of Expressway North 281 and Monte Cristo, the La Sienna master-planned community will be developed on 740 acres. La Sienna will have more than 1,900 home sites and about 100 acres of commercial development.
[Texas Real Estate Business]Wingstop opens first store in Mission - 10/20/2005
(McAllen-Edinburg-Mission: Retail)Wingstop Restaurants, Inc. has opened its first Mission location. Johnny Collins, of South of the Border Wings, Inc., opened the new location at 2310 E. Expressway 83, Suite 4 (Shary and Highway 83).
[PRNewswire]Hundreds line up for grand opening of Kohl's - 10/7/2005
(McAllen-Edinburg-Mission: Retail)The 88,000-square-foot Kohl's department store kicked off its grand opening celebration at the Trenton North shopping plaza at the 7900 N. 10th St. The one closest to McAllen is in Corpus Christi. Initially expected to provide 150 area jobs, the new Kohl's now has 205 employees, said Rudy Treviño, the store's manager. He said base pay is $6.50 an hour.
[The Monitor]New Target, H.E.B. coming to Mission - 10/4/2005
(McAllen-Edinburg-Mission: Retail)A new Target store and an H.E.B. will soon open in Mission. The new H.E.B. and Target stores will be two of the many retailers in a new commercial subdivision on the northeast corner of the intersection of Shary Road and Expressway 83. The Mission Planning and Zoning Commission approved the commercial subdivision for water and sewer lines and other improvements, and the department commission planned to rezone the area for commercial use next week. Mission has had substantial growth in the past 15 years, with a population that grew from 28,000 in 1990 to 45,000 ten years later. The current population is almost 60,000. Target and H.E.B. are the anchor retailers who plan to open at the new location, which is about half a million square feet. There are no numbers available yet on how many sales tax dollars either store will bring into the community or how many jobs they would create.
[The Monitor]Construction begins for Rio Grande Valley Premium Outlets - 9/29/2005
(McAllen-Edinburg-Mission: Retail)(Mercedes) - Simon Property Group, Inc. announced that its Chelsea Property Group division broke ground on Rio Grande Valley Premium Outlets. Officials from Roseland, NJ-based Chelsea Property Group were present as construction began on the 400,000-square-foot upscale, fashion-oriented manufacturers' outlet center located at the southwest corner of U.S. Expressway 83 and Mile 1-1/2 East Road in the city of Mercedes, Hidalgo County. The 54-acre property will include the outlet center and several parcels for complementary uses. Rio Grande Valley Premium Outlets, scheduled to open in fall 2006, represents an investment of over $50 million, will create approximately 800 quality jobs, and will generate millions of dollars in sales tax revenue. It will house over 100 outlet stores and will feature high-quality national brands serving the area's permanent population as well as visitors to the area.
[PRNewswire]Dallas firm to bring stores to Weslaco Kmart - 9/17/2005
(McAllen-Edinburg-Mission: Retail)Clearview Investments LLC of Dallas has purchased the abandoned Kmart building and will bring several stores to Weslaco. The 190,000-square-foot structure has been empty since 2003. Among the tenants expected to move into the building are stores like Dollar Tree, Ross, Melrose, as well as what is expected to be the largest Bealls store in the Valley. Additionally, a bank, a Starbucks and other retail stores are expected to eventually move in. The stores should begin opening by January. The stores will join several new businesses along the northwest side of Weslaco where a Home Depot, Chili's restaurant and Denny's restaurant have set up shop. Additionally, the city is preparing for the construction of a 150-shop outlet retail center that will include a hotel and 15,000-seat open-air entertainment center. The outlet center is expected to create 1,000 to 1,500 new jobs.
[Mid Valley Town Crier]Food bank buys Pharr property - 9/13/2005
(McAllen-Edinburg-Mission: Retail)The Food Bank of the Rio Grande Valley has purchased a 14-acre site in downtown Pharr, setting up their move out of McAllen in early 2007. The news is a welcome development for the Pharr Main Street Program. Once the nonprofit moves to Pharr, an eventuality that will be delayed by an estimated $4 million in renovations, it will bring with it 45 full-time employees, as well as between ten and 100 volunteers a week. In keeping with Pharr's efforts to create a historic downtown, the food bank will restore what was once the Valley Fruit & Vegetable Co. packing facility at the intersection of Business 83 and Cage Boulevard to its original 1930s look. And adding a further boon to the Main Street Program, the sale of the old Medco building across the street from City Hall is scheduled for later this week with plans for development.
[McAllen Monitor]Downtown garage expected to ease parking congestion (McAllen) - 8/16/2005
(McAllen-Edinburg-Mission: Retail)Downtown parking may get relief in spring 2007 with the opening of a $6.1 million, five-story parking garage on the east side of Main Street between Beaumont and Chicago avenues. The McAllen City Commission proceeding with design development, the second of the five major phases in the parking garage's development. The city hopes to bid out the construction in early December and break ground in January. The parking garage will have more than 15,000 square feet of leasable area on the first floor for offices, restaurants and public restrooms, and four levels of parking which will accommodate 435 cars. The city already has received letters of intent from Burger King and Pollo Loco. Dairy Queen and House of China also have expressed interest. Depending on the success of the parking garage, the city of McAllen may build another just two blocks east, between South Broadway and South 12th streets.
[McAllen Monitor]Mercedes leaders confirm outlet mall on its way to city - 7/29/2005
(McAllen-Edinburg-Mission: Retail)A multimillion-dollar outlet mall is headed to the Queen City. The first phase of construction for Rio Grande Valley Premium Outlets is still a couple of months away. The past project, formerly known as the Rio Grande Valley Factory Stores, Inc., took a slight detour earlier this year when developers merged with Chelsea Property Group. Chelsea, a subsidiary of Simon Properties, which owns La Plaza Mall in McAllen and Valle Vista Mall in Harlingen, plans to open the outlet mall in fall 2006. Plans for the center include a single-level, village style project with a southwest architectural theme. The 54-acre property, on the southwest corner of Expressway 83 and Mile 1 1/2 East, will house more than 100 brand name stores with amenities and a tourist center on site. The outlet center is expected to bring approximately 800 jobs to the city. While plans in Mercedes move along in the next several months, construction for a second outlet mall about five miles away in Weslaco is set to begin the first week of September. The Weslaco outlet will be completed in one phase. The project is expected to be complete in 18-20 months.
[McAllen Monitor]Changing face - 7/8/2005
(McAllen-Edinburg-Mission: Retail)The City of Pharr attributes the floundering residential and commercial construction -- indicators of economic prosperity -- to running out of land and not being able to attract high-dollar construction projects. By the end of May, Pharr recorded $20.3 million in residential building permits while Edinburg had $44.8 million and Mission $49.2 million, according to Rio Grande Valley Partnership Chamber of Commerce statistics. All three cities experienced a drop in these figures from the same period last year. Commercial construction permits in Pharr declined by nearly 75 percent to $3.3 million as of May from the same time in 2004. Edinburg's and Mission's declined as well but remained relatively stable at $15.5 million and $10.3 million. There have also been more high-dollar construction projects in Mission and Edinburg than in Pharr. That can inflate the total value of building permits even if fewer are issued because some properties can be worth far more than others.
[The Monitor]Officials approve residential complex (San Juan) - 6/16/2005
(McAllen-Edinburg-Mission: Retail)A 12.5-acre residential development on the north side of the city is expected to begin construction shortly. The South Ridge Estates subdivision, which will maintain housing for 112 families and ten commercial businesses, was given final approval by the City Commission. Located at the intersection of Raul Longoria Street and Nolana, South Ridge Estates is only the second major residential complex within the city limits.
[The Monitor]March building permit numbers (McAllen) - 5/20/2005
(McAllen-Edinburg-Mission: Retail)McAllen led the Valley in residential building permits issued during March with $19,573,790, according to the Rio Grande Valley Partnership. McAllen was also second in commercial building permits with $25 million, just behind Brownsville's $26 million. The Valley's four counties combined for $39,095,634 in commercial building permits during March, bringing the year to date numbers to $149,321,075. Other Valley numbers included: EDINBURG - $12 million commercial permits; MISSION - $11 million commercial permits and $9 million residential permits; WESLACO - $3.18 million commercial permits
[Brownsville Herald]Texas retail update- McAllen (Hidalgo County) - 5/1/2005
(McAllen-Edinburg-Mission: Retail)Developer AmREIT and owner El Pistolon II Ltd. are planning Las Fuentes, a 30-acre project at 10th and Dove streets - a prime retail corner in McAllen. El Pistolon II Ltd. owns the land; AmREIT will manage the development, construction and leasing of the project, which will be an estimated 400,000 square feet. Las Fuentes will break ground in January 2006 with the opening planned for fall of 2006. Simon Property Group is developing Palms Crossing, a 70-acre project located on Highway 83 between Ware Road and 29th Street in front of the new $50 million McAllen Convention Center. The project is scheduled to open in spring of 2006.
[Texas Real Estate Business]Chili's set for summer construction (Edinburg) - 4/26/2005
(McAllen-Edinburg-Mission: Retail)Construction is scheduled to start this summer on Chili's Grill & Bar on University Drive next to Denny's in Edinburg. The developer, Bricker International, is putting about $1.6 million into the project, which should be ready for business by early next spring. The amount includes the costs of infrastructure improvements. The restaurant typically employs 120 people, according to a fact sheet prepared by the company.
[McAllen Monitor]New Palmhurst Wal-Mart opens for business (update) - 4/14/2005
(McAllen-Edinburg-Mission: Retail)The new 40-acre Wal-Mart SuperCenter opened at Conway Avenue and Farm-to-Market Road 1924 in Palmhurst. The store is employing about 400 people and serving a population that has increased from 236 in 1990 to 4,872 in 2000. The new store will bring in about $1 million in annual sales tax revenue.
[McAllen Monitor]

"What I would say to anyone applying at a job fair is, get information about the products and the business first," said Edda Urrea, equity advocate counselor at Texas State Technical College. "Find out the hours, find out if it may or may not be a fit for you."

As many as 80 retailers will be present from 10 a.m. to 7 p.m. at a Sept. 21 job fair scheduled for the Rio Grande Valley Livestock Show Grounds Conference Center.

The 400,000-square-foot shopping center, which will open Nov. 2, is expected to hire 800 to 1,200 workers, said Jason Moreno, director of business services for WorkFORCE Solutions in Edinburg.

Persons looking for full-time positions should ask about insurance and benefits, Urrea said,

MCAllen, Texas - MERCEDES — Showing up for a job interview four and a half hours early is a heck of a way to impress a potential employer.

That’s what more than 700 hungry job-seekers did Thursday morning for a shot at up to 1,600 positions available at a job fair to staff the Rio Grande Valley Premium Outlets shopping center.

By noon, officials estimated more than 2,000 people had come out for the event at the Mercedes Livestock Showgrounds, with yet still another seven hours worth of interviews to go. And more than 3,000 people were expected throughout the day.

At 10 a.m., police were directing traffic and lines outside the showgrounds snaked through the area.

"We’re thrilled with the turnout," said A.B. Barrera, marketing manager for the new shopping center.

More than 1,000 people pre-registered with Workforce Solutions for the fair, their resumes tailored and pre-screened for the 70-plus employers in attendance.

Rio Grande Valley Premium Outlets is scheduled to open in six weeks. Most of the 100-plus store managers hoped to hire the 1,200 to 1,600 employees needed to run the shopping center during Thursday’s event.

The commerce is welcome in Mercedes, a city with an unemployment rate at 16 percent that until recently was still known as a suburb of Weslaco.

The jobs created are also an economic boost to the surrounding cities, as 4 to 5 million shoppers are expected at the center each year, said Mercedes Mayor Joel Quintanilla.

Merchants say whole class of shoppers has vanished 

Saturday Sep 30 | Austin American-Statesman

Luxury sport-utility vehicles bearing Mexican license plates dot the retail centers of border cities such as this one, but the bus station that used to bring scores of low-income shoppers is nearly empty.

INDIANAPOLIS, Oct. 27 -- Simon Property Group, Inc. (the "Company" or "Simon") (NYSE: SPG) today announced results for the quarter and nine months ended September 30, 2005:

* Diluted funds from operations ("FFO") of the Simon portfolio for the quarter increased 26.7% to $351.9 million from $277.7 million in 2004. On a per share basis the increase to $1.19 from $1.04 in the third quarter of 2004 was 14.4%. Diluted FFO of the Simon portfolio for the nine months increased 29.3% to $1.035 billion from $800.5 million in 2004. On a per share basis the increase was 15.9% to $3.49 per share from $3.01 per share in 2004.

* Net income available to common stockholders for the quarter was $74.4 million as compared to $74.1 million in 2004. On a diluted per share basis, earnings decreased 5.6% to $0.34 from $0.36 in the third quarter of 2004. Net income available to common stockholders for the nine months increased 48.1% to $286.2 million from $193.2 million in 2004. On a diluted per share basis the increase was 38.3% to $1.30 per share from $0.94 per share in 2004. The increase in net income for the nine months is primarily attributable to net gains on the sale of two Chicago office building complexes.

The Company considers FFO a key measure of its operating performance that is not specifically defined by accounting principles generally accepted in the United States ("GAAP"). The Company believes that FFO is helpful to investors because it is a widely recognized measure of the performance of real estate investment trusts ("REITs") and provides a relevant basis for comparison among REITs. A reconciliation of GAAP reported net income to FFO is provided in the financial statement section of this press release.

The Company's core fundamentals continue to demonstrate strength as evidenced by strong operating metrics within its three domestic business platforms

"We are pleased to report another quarter of strong financial and operational results," said David Simon, Chief Executive Officer. "Our growth in FFO can be attributed to the productivity of our high quality portfolio, the 2004 acquisition of Chelsea Property Group, and the completion and opening of several new development projects. During the first ten months of 2005, we opened two open-air regional shopping centers, one community center and two Premium Outlet centers -- one in the U.S. and one in Japan. Our development pipeline continues to be robust with five additional projects comprising nearly 3 million square feet of gross leasable area under construction and projected to open over the next 12 to 18 months."

We shop there regularly. I guess the biggest disappointment is that some of the stores are not outlets, they're just regular stores. That said, you will find bargains and brands that may be hard to find in your local and virtually all of the stores have some items deeply discounted. It pays to browse.

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