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...
Click here to read more
Wednesday, March 24, 2010
Wednesday, March 17, 2010
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
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...
Click here to read more
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...
Click here to read more
Tuesday, March 16, 2010
NAI Rio Grande Valley's own Mike Blum weighs in on the importance of border infrastructure and why it is crucial to the growth of McAllen/Reynosa
NAI Rio Grande Valley's own Mike Blum weighs in on the importance of border infrastructure and why it is crucial to the growth of McAllen/Reynosa
McAllen Economic Development Corporation
Building up the infrastructure between the Rio Grande Valley of Texas and Northern Mexico has long been a goal for citizens and public officials. Even with the recent opening of the Anazalduas International Bridge, the fastest growing area on the U.S.-Mexico border faces challenges, in part to the burgeoning population.
Mike Blum, former city planner for the City of McAllen and current partner and managing broker for NAI Rio Grande Valley offered his insight and opinion on “Building Up Border Infrastructure.”
Click here to hear the full report from the Ron Whitlock Reports show.
McAllen Economic Development Corporation
Building up the infrastructure between the Rio Grande Valley of Texas and Northern Mexico has long been a goal for citizens and public officials. Even with the recent opening of the Anazalduas International Bridge, the fastest growing area on the U.S.-Mexico border faces challenges, in part to the burgeoning population.
Mike Blum, former city planner for the City of McAllen and current partner and managing broker for NAI Rio Grande Valley offered his insight and opinion on “Building Up Border Infrastructure.”
Click here to hear the full report from the Ron Whitlock Reports show.
New Owner for 'Empire State Building of the Valley'?
New Owner for 'Empire State Building of the Valley'?
The Brownsville Herald
HARLINGEN (Brownsville Herald) – Some call it “the city’s biggest eyesore.” Others say it’s the Empire State Building of the Rio Grande Valley.
But the 81-year-old Blaschka Tower has survived three hurricanes and served as a fallout shelter in World War II. And now the nine-story, mostly vacant structure may get a new owner.
Grupo Ayusa, a Brownsville-Matamoros development company, has approached owner Wayne Blaschka and the city about purchasing the 40,000-sf building.
Officials said the group wants to rename it Centennial Tower and use the top two floors for its own office. Grupo Ayusa also plans to turn the first floor into a restaurant or café and lease the remaining floors as office space.
Downtown District board member Bill DeBrooke said it would cost about $4 million to clean and inspect the inside of the building to make it inhabitable for business.
Click Here to Read More from The Brownsville Herald
The Brownsville Herald
HARLINGEN (Brownsville Herald) – Some call it “the city’s biggest eyesore.” Others say it’s the Empire State Building of the Rio Grande Valley.
But the 81-year-old Blaschka Tower has survived three hurricanes and served as a fallout shelter in World War II. And now the nine-story, mostly vacant structure may get a new owner.
Grupo Ayusa, a Brownsville-Matamoros development company, has approached owner Wayne Blaschka and the city about purchasing the 40,000-sf building.
Officials said the group wants to rename it Centennial Tower and use the top two floors for its own office. Grupo Ayusa also plans to turn the first floor into a restaurant or café and lease the remaining floors as office space.
Downtown District board member Bill DeBrooke said it would cost about $4 million to clean and inspect the inside of the building to make it inhabitable for business.
Click Here to Read More from The Brownsville Herald
Tyco flows into $20M expansion in Harlingen - Rio Grande Valley, TX
Tyco flows into $20M expansion in Harlingen
Harlingen Economic Development Corporation
02/10/2010
(Harlingen) - Tyco Flow Control plans on a multimillion dollar investment to add a 33,000-sf expansion and additional equipment to its 80,000-sf facility. The expansion could bring the total investment in the Harlingen facility to nearly $20 million.
Tyco Flow Control currently employs 120 people with plans for over 50 new jobs with the expansion.
Construction will commence as soon as plans are complete and the estimated new jobs are planned to be added within one year of occupancy.
The expansion will allow Tyco Flow Control to provide four product brands including industry-leading valves and controls, services, and other solutions, to customers in more than 60 countries.
“Harlingen has always been a productive location for Tyco Flow Control,” according to Ed Rushing, vice president of operations. “The continued positive business climate of Harlingen and work by the Harlingen Economic Development Corporation helped us to decide to expand our Harlingen facility.”
Source: Harlingen Economic Development Corporation
Harlingen Economic Development Corporation
02/10/2010
(Harlingen) - Tyco Flow Control plans on a multimillion dollar investment to add a 33,000-sf expansion and additional equipment to its 80,000-sf facility. The expansion could bring the total investment in the Harlingen facility to nearly $20 million.
Tyco Flow Control currently employs 120 people with plans for over 50 new jobs with the expansion.
Construction will commence as soon as plans are complete and the estimated new jobs are planned to be added within one year of occupancy.
The expansion will allow Tyco Flow Control to provide four product brands including industry-leading valves and controls, services, and other solutions, to customers in more than 60 countries.
“Harlingen has always been a productive location for Tyco Flow Control,” according to Ed Rushing, vice president of operations. “The continued positive business climate of Harlingen and work by the Harlingen Economic Development Corporation helped us to decide to expand our Harlingen facility.”
Source: Harlingen Economic Development Corporation
88,000-SF Boys & Girls Club of Los Fresnos construction
88,000-SF Boys & Girls Club of Los Fresnos construction
The Brownsville Herald
2/16/2010
(Los Fresnos) - The Boys & Girls Club in Los Fresnos should have a new 88,000sf home at Memorial Park by April.
The new complex will cost about $1.4 million. A full-sized gym is part of the first phase of construction. The next stages will add more offices, an exercise center and storage space.
The new space will allow better service to the city’s student population of a little more than 9,000 children.
Click Here to read more from The Brownsville Herald
The Brownsville Herald
2/16/2010
(Los Fresnos) - The Boys & Girls Club in Los Fresnos should have a new 88,000sf home at Memorial Park by April.
The new complex will cost about $1.4 million. A full-sized gym is part of the first phase of construction. The next stages will add more offices, an exercise center and storage space.
The new space will allow better service to the city’s student population of a little more than 9,000 children.
Click Here to read more from The Brownsville Herald
Mixed-use space under construction in Brownsville
Mixed-use space under construction in Brownsville
The Brownsville Herald
3/2/2010
Retail options near the University of Texas at Brownsville and Texas Southmost College (UTB-TSC) campus are expanding. University Plaza, a 6,000-sf shopping mall between Burger King and Expy. 77/83 on University Blvd., is under construction and should be open by late March.
No tenants have signed leases yet, though a restaurant should be among them, according to Claudia Ayarzagoitia, an agent for Southern Commercial Real Estate Group, which is leasing the mall for the developer, Servicios Integrales de Arrendamiento LLC of Matamoros.
The development includes office suites as well.
The development sits on 1.4 acres inside Brownsville’s historic overlay district. An additional 2,000 sf of the parcel probably will be developed after the initial phase is finished, and could include another small restaurant.
Click Here for more from The Brownsville Herald
The Brownsville Herald
3/2/2010
Retail options near the University of Texas at Brownsville and Texas Southmost College (UTB-TSC) campus are expanding. University Plaza, a 6,000-sf shopping mall between Burger King and Expy. 77/83 on University Blvd., is under construction and should be open by late March.
No tenants have signed leases yet, though a restaurant should be among them, according to Claudia Ayarzagoitia, an agent for Southern Commercial Real Estate Group, which is leasing the mall for the developer, Servicios Integrales de Arrendamiento LLC of Matamoros.
The development includes office suites as well.
The development sits on 1.4 acres inside Brownsville’s historic overlay district. An additional 2,000 sf of the parcel probably will be developed after the initial phase is finished, and could include another small restaurant.
Click Here for more from The Brownsville Herald
Thursday, March 11, 2010
NAI Global Named Global Broker of the Year
NAI Global Named Global Broker of the Year
By Private Equity Real Estate Magazine
The readers of Private Equity Real Estate (PERE) magazine named NAI Global the Global Broker of the Year in the PERE Awards 2009.
“Each year, the readers of PERE magazine and PERENews.com nominate and choose the firms, individuals and deals they believe stood out from the crowd the previous year,” said Zoe Hughes, Senior Editor, Real Estate. “2009 was a year in which the private real estate investing world experienced a tremendous amount of turmoil, so to be selected in this year’s awards is a tremendous accolade from our readers and a vote of confidence in what lies ahead for NAI Global.”
“This award is a testament to the quality and commitment of NAI Global and its professionals around the world in serving the private equity and financial sectors,” said Jeffrey M. Finn, NAI Global President & CEO. “Looking ahead, we will continue to innovate and add value with focused service offerings like our Special Asset Solutions group or the Commercial Property PowerSale™ program, to deliver exceptional results for clients around the globe.”
NAI Global offers a wide range of services for the commercial real estate investment sector, including asset management, acquisition/disposition, property management, leasing/agency services, valuation and advisory, market analytics, auction and portfolio optimization. The Global Broker of the Year award from PERE serves as recognition that NAI Global is the best at identifying and anticipating a client’s investment and brokerage needs.
By Private Equity Real Estate Magazine
The readers of Private Equity Real Estate (PERE) magazine named NAI Global the Global Broker of the Year in the PERE Awards 2009.
“Each year, the readers of PERE magazine and PERENews.com nominate and choose the firms, individuals and deals they believe stood out from the crowd the previous year,” said Zoe Hughes, Senior Editor, Real Estate. “2009 was a year in which the private real estate investing world experienced a tremendous amount of turmoil, so to be selected in this year’s awards is a tremendous accolade from our readers and a vote of confidence in what lies ahead for NAI Global.”
“This award is a testament to the quality and commitment of NAI Global and its professionals around the world in serving the private equity and financial sectors,” said Jeffrey M. Finn, NAI Global President & CEO. “Looking ahead, we will continue to innovate and add value with focused service offerings like our Special Asset Solutions group or the Commercial Property PowerSale™ program, to deliver exceptional results for clients around the globe.”
NAI Global offers a wide range of services for the commercial real estate investment sector, including asset management, acquisition/disposition, property management, leasing/agency services, valuation and advisory, market analytics, auction and portfolio optimization. The Global Broker of the Year award from PERE serves as recognition that NAI Global is the best at identifying and anticipating a client’s investment and brokerage needs.
Wednesday, March 10, 2010
Santana Textiles receives $10M loan to build plant in Edinburg
Santana Textiles receives $10M loan to build plant in Edinburg
Published: Tuesday, March 9, 2010 3:48 PM CST
The Edinburg Review
Full Article
AUSTIN -- Santana Textiles has been awarded a $10 million, 15-year loan for its upcoming Edinburg facility, State Sen. Juan “Chuy” Hinojosa, D-McAllen, announced on Monday.
The award comes from the Texas Product Development Fund, a Texas fund administered by the governor through the Texas Economic Development Bank, and funded by bonds issued and backed by the state.
Loans made available through the Texas Product Development Fund may be used for working capital, machinery, equipment, and fixtures. Awards range in size from $500,000 to $10 million. Hinojosa praised the award as a continued investment in South Texas' economic generating capacity.
"In the past year, South Texas has seen sizeable investments in our transportation infrastructure, health care service delivery systems, and institutions of higher education,” Hinojosa said in a statement. “This latest award to Santana maintains our momentum. Edinburg and the entire Rio Grande Valley stand to benefit from the jobs and service contracts Santana will bring to the region. The Texas Product Development Fund chose well in awarding a loan of this size to our fast growing county."
In July 2008, Texas Gov. Rick Perry announced plans to invest $1.65 million through the Texas Enterprise Fund (TEF) to assist Santana in building the denim manufacturing plant in Edinburg. But a significant size increase of the plant, by more than 200,000 square feet, coupled with an economic recession in 2008 left city officials and Santana representatives scrambling to finance the project in four phases.
The project had been delayed for nearly a year and half before high level discussions with Perry in Austin in December finalized the project for construction. Meetings with the Governor focused on production details, global economics, market share, labor costs, transportation costs, and economic stability, according to attendees present at the meeting. Among those in the series of meetings were Santana representatives, Edinburg Mayor Richard Garcia, Texas Economic Development Bank CFO Michael Chrobak, Michael Bryant, an assistant general counsel in the Governor’s Office, and Jerry Haddican, from state Sen. Hinojosa’s Austin office.
Santana, a denim fabric manufacturer with operations in Brazil and Argentina is expected to create 800 jobs and bring $80 million in new investment. Construction of their proposed 500,000 square foot complex is slated to begin this spring, and will be completed...
Full Article
Published: Tuesday, March 9, 2010 3:48 PM CST
The Edinburg Review
Full Article
AUSTIN -- Santana Textiles has been awarded a $10 million, 15-year loan for its upcoming Edinburg facility, State Sen. Juan “Chuy” Hinojosa, D-McAllen, announced on Monday.
The award comes from the Texas Product Development Fund, a Texas fund administered by the governor through the Texas Economic Development Bank, and funded by bonds issued and backed by the state.
Loans made available through the Texas Product Development Fund may be used for working capital, machinery, equipment, and fixtures. Awards range in size from $500,000 to $10 million. Hinojosa praised the award as a continued investment in South Texas' economic generating capacity.
"In the past year, South Texas has seen sizeable investments in our transportation infrastructure, health care service delivery systems, and institutions of higher education,” Hinojosa said in a statement. “This latest award to Santana maintains our momentum. Edinburg and the entire Rio Grande Valley stand to benefit from the jobs and service contracts Santana will bring to the region. The Texas Product Development Fund chose well in awarding a loan of this size to our fast growing county."
In July 2008, Texas Gov. Rick Perry announced plans to invest $1.65 million through the Texas Enterprise Fund (TEF) to assist Santana in building the denim manufacturing plant in Edinburg. But a significant size increase of the plant, by more than 200,000 square feet, coupled with an economic recession in 2008 left city officials and Santana representatives scrambling to finance the project in four phases.
The project had been delayed for nearly a year and half before high level discussions with Perry in Austin in December finalized the project for construction. Meetings with the Governor focused on production details, global economics, market share, labor costs, transportation costs, and economic stability, according to attendees present at the meeting. Among those in the series of meetings were Santana representatives, Edinburg Mayor Richard Garcia, Texas Economic Development Bank CFO Michael Chrobak, Michael Bryant, an assistant general counsel in the Governor’s Office, and Jerry Haddican, from state Sen. Hinojosa’s Austin office.
Santana, a denim fabric manufacturer with operations in Brazil and Argentina is expected to create 800 jobs and bring $80 million in new investment. Construction of their proposed 500,000 square foot complex is slated to begin this spring, and will be completed...
Full Article
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