McALLEN - The McAllen City Commission approved a $2 billion plan for a 2,571-acre master-planned development in far north McAllen.
The community, Tres Lagos, will include residential, commercial and government subdivisions using sustainable and smart technology.
McAllen commissioners approved an agreement between the City and Rhodes Enterprises (Tres Lagos developer) for Tax Increment Reinvestment Zone (TIRZ) number one, and adopted an interlocal agreement between the City and Hidalgo County for participation in the TIRZ.
Rhodes Enterprises will invest over $232 million in public infrastructure to grow the area into a great place to live, work and play for generations to come.
Private investment in construction of homes and businesses is projected to be over $2 billion over the 30-year build-out period with an estimated creation of 8,000 jobs.
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