Real Estate Investing is All the Rage Again. Should You Cash In?

Forbes / September 13, 2010

By: Francesca Levy

I wrote last weekabout the housing markets that were the best bets for residential real estate investors, suggesting that home buyers could use the advice as a clue to which markets would turn around soonest.

The top picks were Raleigh, N.C., McAllen, Texas and Austin, thanks to their strong  

pre-recession population growth, slowing home-price drops and a mix of jobs that’s weighted toward growth industries like government and education (the entire top ten list is past the jump).

Our list, compiled by Cary, N.C. real estate research firm Local Market Monitor, wasn’t looking at the markets that were currently the healthiest, but rather which had the greatest chance for price appreciation.

You can, of course, invest in real estate without buying a home. Commercial real estate investment has also picked up dramatically. Real estate funds and companies brought in $9.18 billion for all types of property acquisitions in August — more than double what they raised in July, according to real estate investment adviser CoStar.

Of course, $63.26 billion raised this year is pocket change compared to the
industry’s pre-2007 heyday, when REITs took in $200 billion annually, but there is money to be made in careful commercial investing.

Investors looking for a way into the market should seek an adviser with low fees, who can acquire nimbly and quickly, and has a multi-year track record in the industry, says CoStar consultant Norm Miller, but they should closely watch commercial market conditions.
“It’s not a bad time to buy, but I’m not going to tell you we’re at the bottom on prices,” he says.

If, however, you’re looking at the investing trees (individual housing markets) rather than the investing forest (pension funds, mutual funds, REITs, hedge funds and other companies that put money into all types of real estate classes, but mainly commercial), here are the top markets for conservative investors (see the article for more detail on why):

1.

Metropolitan Statistical Area: Raleigh-Cary, N.C.

Q2 2010 Home Price Change: -3%

Three- year home price forecast: 0%

Population Growth, 2000-2005: 18%

2.

Metropolitan Statistical Area: McAllen-Edinburg-Mission, Texas

Q2 2010 Home Price Change: 1%

Three- year home price forecast: 7%

Population Growth, 2000-2005: 16%

3.

Metropolitan Statistical Area: Austin-Round Rock, Texas

Q2 2010 Home Price Change: ...


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Mexico ranked most cost competitive for industry; McAllen takes top spot in the U.S. market

Mexico ranked most cost competitive for industry; McAllen takes top spot in the U.S. market
June 14th, 2010
McAllen Economic Development Corporation Blog

Leave a comment Based on the low costs of doing business and business’ ability to compete on the global scale, Mexico ranked No. 1 in overall competitiveness according to a recent report released by KMPG. This organization is a “global network of professionals in the audit, tax and advisory business. The study found that Mexico represents the lowest cost country for companies. The McAllen Economic Development Corporation has a team of industrial specialists focused on recruiting and expanding manufacturing, warehousing, logistics operations in Mexico, specifically Reynosa.

For the U.S., KMPG ranked McAllen as the most competitive city in the United States and Canada, based on low cost of business. There are hundreds of companies on the U.S. side that supply the manufacturing sector in Reynosa, Mexico. Click here to read the full report.

Ridge Property Trust Leases Over 200,000 Square Feet Of Space To Tenants At Facilities In The Mcallen/Reynosa Area

Ridge Property Trust Leases Over 200,000 Square Feet Of Space To Tenants At Facilities In The Mcallen/Reynosa Area
McAllen, Texas, Apr 27, 2010 (PRWeb.com via COMTEX) --

Ridge Property Trust, a private REIT specializing in industrial property development and management, today announced leasings totaling 218,812 square feet, including recently signed Andrew Corporation and Karlee Company at the company's properties at Sharyland Business Park in McAllen, TX.

This comes on the heels of significant leasing activity in 2009 of 78,500 square feet to ProTrans International and ProTrans Reynosa at Ridge facilities in McAllen, TX and Reynosa, MX.

The Sharyland Business Park, located near the Miller International Airport, serves companies as a logistics hub that allows efficient transportation to and from Mexico, as well as quick access to both Highway 281 and U.S. Route 83. The industrial development is also near the newly opened Anzalduas International Bridge which provides an essential link to and from Reynosa, MX, and further south to Monterrey, MX.

"Ridge Property Trust combines state-of-the-art amenities with ...

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Mike Blum with NAI RGV Comments on the New 5 Story Hotel Being Built in McAllen

New 5 Story Hotel Being Built in McAllen

By Roberto Hugo Gonzalez

TexasBorderBusiness.com

A new 5 story hotel is being built by local businessmen; its location is possibly one of the most strategic locations in McAllen, easy to get in and easy to get out, close to everything that is important for any traveler. The new Hampton Inn & Suites hotel is being built on the corner of Col. Rowe (2nd Street) and Expressway 83, just a few steps east of the overpass.

The owners are Castle Hospitality locally owned by Larry Fallek, Michael Fallek, Bob Wallace, and Rick Guerra. They also own and operate the Courtyard by Marriott, Fairfield Inn & Suites, SpringHill Suites, Romano's Macaroni Grill, and Tony Roma's in McAllen. In Laredo, they own and operate Embassy Suites, Fairfield Inn and Tony Roma's.

Mike Blum, NAI-RGV managing partner was the one who put together this deal and worked on it for about a year before it became a reality. “These 3 acres of land are in the center of McAllen, along the Expressway, in the heart of the medical center and between the Pharr exit and the Mission exit plus they are surrounded by high-end development and retail shopping. This is one of the most prime real estate pieces left on the Expressway in McAllen,” Blum stated.

Bill Moschel and Jim Moffit were the previous owners and Blum did a Master plan for them back in 1993. They have owned the property for the last 20 years or more. “I think that the fact that this property is owned, developed, built, banked and sold by local people; when you look at the economic multipliers, the strength of the local economy is felt,” Blum stated. He added that this transaction resulted in multiple transactions and became huge so he does not know the number of multipliers in this single transaction.

Rick Guerra is the Vice President of Operations of Castle Hospitality and the management company that runs the hotels and is also ...

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Perryman: McAllen Has Been a Great Place to Weather the Recession

Perryman: McAllen Has Been a Great Place to Weather the Recession

By Joey Gomez

Rio Grande Guardian

McALLEN, March 30 - When considering the best place destined to weather the current recession, there is no place better than McAllen, according to renowned economist Ray Perryman.

As the keynote speaker at the city's 2010 Economic Forecast Summit on Tuesday morning, Perryman gave his predictions on how the region will fare as the recession moves into the recovery phase.

“You couldn't find a better state to be in than Texas during something like this, you can't find a better city to be in than McAllen at this time,” Perryman told summit attendees. “That's not to say there haven't been hardships like job losses, but on virtually every truth that is right in evaluating cities and how they did, McAllen is somewhere in the Top 5 best cities to weather this whole situation.”

Tantamount to the region's success in the current downturn include some early net job growth, steady employment, and a “healthy set” of banks, Perryman said. The region has also piqued the interest of companies, who are looking for an ideal place for low-cost production.

“Companies are becoming absolutely obsessed with cost control in the economy, and that makes us more attractive in a lot of areas. So, we are forecasting growth over the next term,” Perryman said. "

By the numbers, experts at the summit predicted that jobs in border MSAs will likely grow from 1 to 4 percent in 2010 as a forecasted improvement in electronics and auto manufacturing will stimulate job growth along the border. Job growth in Texas will likely...

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McAllen economy recognized — again

McAllen economy recognized — again

March 23, 2010 9:56 PM
Sean Gaffney
The Monitor

McALLEN — Greater McAllen has topped another list for economic performance, this time as the only U.S. metro area among the nation’s 100 largest to register net job growth since the onset of the recession.

McAllen area employment grew 0.7 percent...

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McAllen economy ranked among nation's strongest by Brookings Institution

McAllen economy ranked among nation's strongest by Brookings Institution
The Brookings Institution - March 2010 MetroMonitor
March 17, 2010

The McAllen area ranked among the 20 strongest-performing metropolitan economies in the nation during the last three months of 2009, according to a study to be released today by the Brookings Institution, a public policy think tank in Washington, D.C.

Austin, San Antonio, El Paso and Dallas-Fort Worth also ranked in the top 20 in economic performance among the 100 largest U.S. metro areas, according to the institution's MetroMonitor barometer.

Click here for full report

Mayor Cortez, supporters lobby for youth park expansion, sale of Westside Park

Mayor Cortez, supporters lobby for youth park expansion, sale of Westside Park
McAllen voters will decide in May special election

March 16, 2010 9:13 PM
Nick Pipitone
The Monitor

McALLEN — Mayor Richard Cortez and several supporters urged voters Tuesday to approve two separate ballot propositions that would usher in big changes to the city’s parkland and change the city’s tax rate for the first time in over a decade.

McAllen voters will decide in a May special election whether the city should issue $35 million worth of bonds to build a youth baseball and softball complex, expand the city’s lone youth soccer complex, build a giant new tennis center and renovate Municipal Park.

A second proposition will authorize...

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McAllen Named Among Cities with Best Jobs for 2010

McAllen Named Among Cities with Best Jobs for 2010
Full Post

McAllen has been ranked fourth in a list of the ten cities with the best jobs for 2010 by Payscale.com


The site writes: “McAllen has been coming on strong in the list of top cities over the past few years, driven by its top ranking for employment growth and high-tech GDP growth between the years of 2003-2008. The area has been luring companies with its low business costs, which has fueled employment growth numbers and helped to increase population. As a result of this and population growth of gainfully employed folk, the service-based industry, which has taken such a hit elsewhere, continues to prosper.”

McAllen Mayor touts city's sound financial footing in the annual State of the City address

McAllen mayor touts city's sound financial footing in address

By Nick Pipitone The Monitor, Mc Allen, Texas
Publication: The Monitor (McAllen, Texas)
Date: Friday, January 22 2010
NAI Rio Grande Valley

Jan. 22--MCALLEN -- Mayor Richard Cortez said the city is well-positioned to rebound from the recession and touted several completed and future city projects during the annual State of the City address at the McAllen Convention Center Thursday.


In front of a few hundred people -- including some U.S. and Mexican dignitaries -- Cortez said McAllen was on strong financial footing despite the economic malaise of the past two years.

Cortez cited the $226 million in the city's total fund balance at the end of the 2008-2009 fiscal year and a recent study by the Brookings Institute, a Washington, D.C. think tank that reported that the Greater McAllen area was No. 1 in the nation in job growth in the third quarter of 2009.

"Just as we didn't wait around for the recession to begin, we won't wait around for it to end," Cortez said in the large conference room with three large video screens mounted behind him and several elaborate displays showcasing the city's new "green" movement.

But Cortez, who is approaching his fifth year as mayor, also said many of his grandest visions are on hold because of the nationwide credit crunch. Delayed projects include the landing of a much-coveted auto manufacturing plant and the Boeye Reservoir redevelopment, a proposed 67-acre retail and residential complex that was set to be located above the reservoir.

The city has been in negotiations to land an auto manufacturer here for the past several years but has steadfastly refused to divulge any details because of the delicate nature of the talks.

"Yes, we continue to have dialogue with them and we're still in competition with other areas," Cortez said of the negotiations. "But we're hopeful that if we can resolve the differences in what they want and what we're willing to give, we may be fortunate to bring them here."

Full Article

MEDC/MFTZ Trains for a Marathon Year of Economic Development

MEDC/MFTZ Trains for a Marathon Year of Economic Development

Friday, January 15th, 2010
By Keith Patridge, President/CEO of McAllen Economic Development Corporation www.texasborderbusiness.com

It seemed like a great idea back in November when staff decided to sign up for the Fiesta Marathon Relay in McAllen. Twenty employees from the McAllen Economic Development Corporation and Foreign Trade Zone formed four teams of five to conquer the 26.2-mile relay early on a Sunday morning in mid-December.

This race became the buzz in the office as several employees met on weekends to train and run laps around the trade zone after business hours. And on race day, we all gathered at the start line before sunrise to take on this marathon.

MEDC/MFTZ staff, joined with friends and family, stood along the race route to cheer on our teams and offer words of encouragement during that foggy, cold morning. Less than six hours later, we all completed the race and despite some soreness, it proved to be a great day. The mileage challenged us, but it drove home the importance of teamwork, efficiency and strategy. It also reminds us of the expression that sometimes in life -and business- it is a marathon, not a sprint. And while we sprint when we have to, this past year tested the endurance of everyone in business.

Economic development in 2009 was a long, grueling marathon. The slow economic conditions have caused some companies to be more cautious and hesitant, but it doesn’t mean we give up. This “marathon” challenges the MEDC team to be patient, more innovative and aggressive.

We have talked about the auto plant for some time, and it is still moving forward. McAllen continues to be in that race and hopefully we will have some positive news to report in 2010. And although the year has proved slower than usual, we have secured 18 new companies in Reynosa and McAllen, plus existing companies added 723,000-square feet of industrial space in the McAllen MSA and in Reynosa.

Also, we have seen an influx of companies transferring divisions and their corporate headquarters to McAllen. In part because of the region’s large local workforce, strategic location and low costs of doing business, Fujitsu-Ten, Panasonic, Hi-Tec and ALPS have located their North American corporate headquarters to McAllen. Bettcher has transferred all of its North American corporate and manufacturing operations to McAllen and Reynosa. Hutchinson Manufacturing has also started transferring several divisions to McAllen.

For more than 17 years, the MEDC team has worked with ALPS, a global leader and manufacturer of electronic and automotive components. Over time, we have helped the company relocate families, hire local students from South Texas College and University of Texas-Pan American and expand their McAllen/Reynosa operations.

Recently, MEDC, along with officials from STC, UTPA, Mission Economic Development Authority and Hunt Valley Development, traveled to ALPS’ headquarters in Japan to meet with Mr. Masataka Kataoka, president/CEO of ALPS and tour their advanced technology and manufacturing centers. Mr. Kataoka announced that ALPS will bring their North American headquarters to McAllen, along with an additional division and 40 more jobs.

This represents a great opportunity to strengthen the partnership we have forged with ALPS over the years. We will continue working with company officials to help them create a global headquarters in McAllen.

The management teams of ALPS and all of our companies have become more like family to us, as we have known many of them for almost 20 years. Like training for a marathon – or even a fun relay- economic development and partnerships take practice and commitment.

And the MEDC team is committed to creating economic opportunity in the Rio Grande Valley and Northern Mexico. If you know of a company that is interested in learning about the advanced manufacturing opportunities in McAllen/Reynosa, contact the MEDC team today at 956.682.2875 or info@medc.org.

Keith Patridge is President and C. E. O. of McAllen Economic Development Corporation.

McAllen-Edinburg-Mission Metropolitan Area is Number One in the Nation in Positive Job Growth!

McAllen-Edinburg-Mission Metropolitan Area is Number One in the Nation in Positive Job Growth!


Friday, January 15th, 2010
Written by: Dr. Gilberto de los Santos
Professor Emeritus The University of Texas—Pan American
www.texasborderbusiness.com

The prestigious Brookings Institution released in its 2009 third quarter MetroMonitor, a “quarterly, interactive barometer of the health of America’s 100 largest metropolitan economies.” In this report it cites the changes in employment of the 100 largest United States Standard Metropolitan Areas.

From the 2nd to the 3rd quarter of the year 2009, only 11 of the 100 metro areas experienced positive increase in jobs. The other 89 metro areas lost jobs during this time period. The McAllen—Edinburg—Mission metro area is the number one in the United States in job creation with an increase of 1.3% in one quarter! The 1.3%, if annualized, would be 5.2%! Below is a list of the top five metro areas with their percentage increases in jobs:

McAllen-Edinburg-Mission, TX with a 1.3% growth

New Orleans-Metairie-Kenner, LA = 0.6%

New York-Northern New Jersey-Long Island, NY-NJ-PA = 0.5%

Omaha-Council Bluffs, NE, IA = 0.5%

Columbia, SC = 0.3%

The MetroMonitor also compared the largest 100 metro areas’ peak employment quarter to the most recent 3rd 2009 Quarter. Only one metro area in the United States, The McAllen—Edinburg—Mission metro area increased job placements with an increase of 1.4%! Since their peak employment, the 100 largest metro areas have decreased an average of -4.3%, compared to a -4.6% decrease in employment for the entire United States.

The McAllen—Edinburg—Mission metro area is the only metro area in Texas that achieved an employment growth rate from October 2008 to October 2009!!! (See Table 1)

There seems to be much healing to go—and the McAllen—Edinburg—Mission metro area is leading the way in the entire United States—and in Texas.

While most of the major metro areas in the United States are suffering loss of jobs, our metro area is number 1 in job growth. One can rightfully ask, what are the reasons for this unique growth in employment? Someone else might give a different answer, but this writer’s impression is that some of the reasons include that The Rio Grande Valley has wonderful people who have created a high quality standard of life which has attracted a higher than average increase in population growth.

We are blessed with great weather, a good school system from the K-12 grades levels to the post secondary education level, a family-oriented community, and a reasonably low cost of living. Although most local residents think the real estate prices have “sky rocked” we are considered a “bargain” compared to other metro areas.

The public schools, The University of Texas—Pan American, and South Texas College are among the fastest growing institutions in the country, and continue to increase programs and in number and quality.

Our excellent weather and shopping facilities encourage Mexican and Winter Texan tourists to continue coming. Our job growth is also fueled by the only three industries which experienced growth in Texas—Education and Health Services, Government, and Other Services.

Being adjacent to Mexico is an asset for our retail growth which also spurs jobs. The Maquiladora industry has promoted a huge increase in jobs in our sister cities near us in Mexico, and has also helped create jobs for us in the United States. Our agriculture market is strong, and we are attracting more manufacturing industries. We are also experiencing a huge increase in capitol influx from Mexican investors.

The fact that our metro area increased in jobs, does not mean that unemployment has decreased. Our metro area has been the first, second, or third fastest growing area in the United States for the past two decades, and we also have been the leaders in decreasing the unemployment rate. In the 1980’s and early 1990’s the unemployment rate was in the high “teens” and it was gradually lowered to less than 10%. At this time our metro unemployment rate is 11.2%, still among the highest unemployment rates in Texas. (See Table 1) So if the population growth rate is faster than the job creation rate, the unemployment will increase.

Nonetheless, we should definitely celebrate being number one in the United States and in Texas in job creation, and to hopefully be at the forefront of economic recovery!

Reynosa, McAllen celebrate new link

Reynosa, McAllen celebrate new link
By Lynn Brezosky
Express-News REYNOSA, Mexico —

The first new Southern border crossing to open in a decade was inaugurated Monday with plenty of pomp and a few polite laments about a process that dragged on nearly 18 years.


The 3.2-mile Anzaldúas International Bridge, crossing rural fields and the Rio Grande, is the second bridge to connect the Reynosa and McAllen areas. The new route promises to open the western end of the Rio Grande Valley to one of Mexico's busiest factory hubs, bypassing downtown Reynosa to cut travel time to the Mexican industrial city of Monterrey by half an hour.

Mexican President Felipe Calderón made a dramatic helicopter arrival on the Mexican side, joining U.S. trade representative Ron Kirk in a coordinated march of U.S. and Mexican officials toward a dais of dignitaries atop the span. At least 1,000 people attended.

“This bridge is more than a link between Mexico and America, between north and south. It is also a potent symbol of our connectiveness,” Kirk said. “You all knew that a new crossing would bring benefits to this entire region, and those benefits begin today.”

Calderón said the bridge was part of a new future for Mexico's northern border and for all of the country.

“It signifies jobs,” he said. “It signifies competitiveness.”

Planning for the bridge started in 1992. President Bill Clinton signed a presidential permit in 1999, an exchange of diplomatic notes came in 2001 and ground was broken in 2007, with the two sides contributing about $100 million for land acquisition and construction costs.

The bridge opened to pedestrians and small vehicle traffic Dec. 15 but does not yet have the permits needed for commercial traffic.

Juan Molinar Horcasitas, a Mexican trade official, said the bridge's “green” construction — it is largely made of recycled materials — made it “not just a bridge between two nations but between the past and the future.”

Along with the addition and expansion of other border crossings, he said, Anzaldúas will help establish Mexico as the “logistical platform” for North America.

It is a long crossing, running past a flood control levee that functions as a border barrier in Hidalgo County and over a no man's land of flood plain along the ribbon of the Rio Grande. South of the river comes another mile or so of rural Mexican dwellings, grazing goats and finally Mexican customs officials.

Officials on both sides say the need for new ports of entry on the border is clear. One million vehicles — and commerce amounting to $1 billion — cross it each day. Mexico is the No. 1 trade partner of 22 states of the union. Some 60 percent of Mexican exports enter the U.S. through the Mexican state of Tamaulipas, which fronts the Texas border from Brownsville to the eastern end of Laredo.

Border cities fight intensely to be the site of new international bridges in hopes of landing stopover business, factories, and a housing market for managers and workers. The last new crossing to open was in Laredo in 2000.

“It takes us 18 years on average between when both governments agree on something and we reach this stage,” Tamaulipas Gov. Eugenio Flores said.

“We need a new procedure, a more adequate standard, a shorter time of formalities.”

Link to Article

McAllen MSA posts highest annual growth rate in 2009

TWC: McAllen MSA posts highest annual growth rate in 2009
MEDC Blog

January 4th, 2010 No comments A recent report from the Texas Workforce Commission indicates that the McAllen MSA has 9,300 jobs, followed by the Dallas-Plano-Irving area

with 7,200 jobs. The McAllen-Edinburg-Mission MSA posted the highest percentage of over-the-month growth with 1.0 percent.

Overall, the annual growth rate for total nonagricultural employment decreased throughout Texas; however, the McAllen MSA maintained a positive and the highest annual growth rate of 1.2 percent. Recently, numerous outlets have featured the McAllen MSA has one of the top metros for growth in employment and small business opportunities. See all of the recent rankings here.

View the full Texas Workforce Commission Report by clicking here.

McAllen’s Downtown Is a Destination

McAllen’s Downtown Is a Destination
Click Here for Full Story

McAllen continues to pump more lifeblood into its heart.

In 2004, during the city’s 100th birthday celebration, McAllen officials introduced a Heart of the City initiative. The goal of the project was to restore vitality to the historic downtown area by attracting new businesses‚ providing adequate parking‚ attracting international shoppers‚ creating new jobs and increasing property values.

Six years after the initiative began, city officials point out that downtown McAllen has become much more energetic, having attracted many more shoppers and several new businesses to the district. Examples of a revitalized look include venues like Buda Bar & Espana that welcomes a more affluent clientele, and the McAllen Chamber of Commerce that has moved into a beautiful downtown building along Ash Avenue.

In addition, the historic Marriott Renaissance Casa de Palmas hotel has been renovated but remains a reminder of the city’s colorful past, and Nuevo Santander Gallery now has a Mediterranean look that reflects McAllen’s history and heritage among the fine art, antiques and Old West collectibles it sells.

Other recent improvements throughout the downtown community include a new bus terminal along with decorative lights along several downtown sidewalks. In addition, a five-story parking garage was constructed and opened downtown in 2007, and the historic El Rey Theatre has been revitalized.

Heart of the City officials point out that continued development of a strong retail sector in the downtown area will bring in even more shoppers to contribute to sales tax revenues, while a more scenic and decorative district further enhances the overall civic image. Future goals for the district include registering McAllen in the Texas Main Street Program, installing a trolley system, creating an arts culture destination for the Rio Grande Valley, and attracting large anchor stores to support and attract new businesses and merchants.

Also, the city hopes to establish more parks and green space areas, and have more high-rise condominiums and lofts available for people looking to live in a downtown environment.

Story by Kevin Litwin
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Just one metro area (McAllen) regained its pre-recession peak employment level...reported recently by The Brookings Institution

In a Recent Report by The Brookings Institution: Just one metro area (McAllen) regained its pre-recession peak employment level
The Brookings Institution
December 2009 — MetroMonitor:
Tracking Economic Recession and Recovery in America’s 100 Largest Metropolitan Areas Cities, Regions and States, U.S. Economy, Unemployment, Housing

Click Here to Read Full Report

Nationwide, the recession is over—at least in the view of most economists in light of third quarter 2009 indicators. They revealed a real U.S. gross domestic product (GDP) increasing at a 2.8 percent annual rate, after four consecutive quarters of contraction. Most interpreted that rate of output growth, along with other signals such as increasing housing prices, as indication that the economic recovery is underway.
...
Six metro areas—Albuquerque, Austin, McAllen, San Antonio, Virginia Beach, and Washington, DC—had regained their pre-recession peak level of output by the third quarter. Just one metro area (McAllen) regained its pre-recession peak employment level. No metropolitan area had a lower unemployment rate in September than it did one year earlier, though increases over that period ranged widely, from a little over 1 percentage point to more than 8 percentage points.

...

McAllen MSA makes top Forbes list

McAllen MSA makes top Forbes list
Action 4 News
Valleycentral.com

With people trying to get the most for their money during this economic crisis, it looks like the Valley just might be the place to do that. Click Here to Watch Video

America's Best Bang-For-The-Buck Cities: McAllen-Edinburg-Mission, TX Metro Area Ranks 7th Out of 100

America's Best Bang-For-The-Buck Cities
Forbes.com
Francesca Levy, 11.30.09, 06:00 PM EST

Solid housing markets, relatively stable employment, enviable cost of living and quick commutes make these metros among the country's most affordable to live.

1 - Omaha-Council Bluffs, NE-IA Metro Area
2 - Little Rock-North Little Rock-Conway, AR Metro Area
3 - Jackson, MS Metro Area
4 - Des Moines-West Des Moines, IA Metro Area
5 - Augusta-Richmond County, GA-SC Metro Area
6 - Wichita, KS Metro Area 
7 - McAllen-Edinburg-Mission, TX Metro Area
8 - Chattanooga, TN-GA Metro Area
9 - Colorado Springs, CO Metro Area

Click Here for Complete Article

Rooms To Go opening store in McAllen, Texas

Rooms To Go opening store in McAllen, Texas

Furniture Today Staff -- Furniture Today, November 12, 2009

Location will include Rooms To Go Kids showroom

MCALLEN, Texas — Rooms To Go will open a 35,000-square-foot main store and attached Rooms To Go Kids showroom here Nov. 21.

The main store at 1400 E. Expressway 83 near La Plaza Mall will feature the Top 100 retailer's room packages of living room, dining room and bedroom furniture. The "Kids and Teens" lineup at the RTG Kids showroom next door will feature various Disney collections - including Hannah Montana, Princesses, Pirates of the Caribbean and High School Musical - as well as an NFL collection.

The Seffner, Fla.-based company noted in a press release that at least 90% of the products shown at the new location will be available for quick delivery, including its popular Cindy Crawford Home Collection.

RTG CEO Jeff Seaman said the more than 130-store company has been looking for a site here for several years and is "thrilled to be opening our first store in McAllen."

"We're committed to providing unparalleled service, selection, value and a terrific shopping experience," he added.

The retailer said it will make an opening day donation to the McAllen Food Bank.

McAllen awards Bicentennial extension contract

McAllen awards Bicentennial extension contract
November 11, 2009 10:40 PM
Nick Pipitone
The Monitor

McALLEN — City commissioners on Monday awarded the contract for the long-awaited extension of Bicentennial Boulevard to an Edinburg company.

Construction could begin as early as January.

The awarding of the nearly $5.3 million contract to IOC Co. LLC brings the city closer to beginning the 2.2-mile extension of Bicentennial from Nolana to Trenton Road.

Plans for the extension have been 15 years in the making and have faced several obstacles along the way.

City officials say the addition of another north-south corridor in North McAllen will alleviate traffic congestion in the city, especially on 10th and 23rd streets.

“The No. 1 problem cited in our city among constituents in any district is traffic,” City Commissioner Marcus Barrera said. “It will lighten the load for all roads.”

More than a decade ago, city officials originally envisioned extending Bicentennial all the way to University Drive in Edinburg, but they faced opposition from residents there who fought the prospect of a heavily trafficked road running across their property.

The city eventually settled on a four-lane roadway extending to Trenton with an adjacent hike-and-bike trail.

“It’ll probably be very similar to how Second Street is,” Barrera said, referring to the combination of a north-south thoroughfare paralleled by a greenway. “(It will be) a more scenic way when trying to get to work or get the kids to school or get to the airport. It’ll be a boon for everybody.”

The major obstacle in the way of the plan was the crossing of two railroad tracks just north of Nolana and near Bill Schupp Park. The rail lines are owned by Rio Valley Switching Co. and the city had to close two crossings at Highland and Beech avenues earlier this year to offset the planned crossings farther north and continue with the project.

Another obstacle was the irrigation canal and drainage ditch running along Bicentennial. The city worked out an agreement with the irrigation district to convert the open canal into an underground canal on the east side of the extension, City Engineer Yvette Barrera said. The drainage ditch will remain open but will be moved slightly to the east, following the entire length of the extension.

The city also had to negotiate with property owners along the planned path of the extension to buy up the necessary land, a process it completed earlier this year, Yvette Barrera said.

The contractor, IOC, must turn in all construction plans and documents and then set up a pre-construction conference with the city, which Yvette Barrera estimates will take about three weeks. After the conference, the company would have 10 days to start construction.

Along with building the road, the company will lay down the concrete hike-and-bike trail. The landscaping aspect of the greenway will be handled by another company. The city plans to submit a grant application to the state for that part of the project, City Commissioner Marcus Barrera said.

The timing of the contract for the road was “serendipitous” for the city because of how competitive construction bidding is at the moment, he said. That’s in contrast to a few years ago when cost estimates were rising because development was rampant.

“We were able to take advantage of the situation and save the taxpayers millions” of dollars, the city commissioner said.