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Rio Grande Village
- Category : Retail & Office
- Date : Summer 2020
- Tags : Retail, Office
Financed Retail Project
First conceptualized at an ICSC Conference, the project took seven years to come to fruition. St. Ives Realty and Rio Grande Village, LLC, a Dallas based group of national developers will transform over 150 acres of land in Rio Grande City to serve as the basis for a multi-mi l l ion dollar investment endeavor for the area.
Total Project Investment
The group will master develop the mixed-use property to include retail , commercial , national restaurant chains, lodging, office space and industrial facilities, among other potential prospects.
Construct ion of realignment of FM 755 had to be finalized and operational Secure FEMA approval of CLOMR to remove site from Flood Zone
Completion of al l phases will result in $50MIL-$70MIL of direct investment. By Summer of 2020 will see shops and other retail start to open creating approximately 500-700 jobs to be created with nearly $10MIL of new Annual Salaries.
Direct project impact will generate an estimated $1.4MIL in advalorem taxes and over $1.1MIL of sales tax annually when completed in its entirety.