EDINBURG - The 194-unit Residence at Edinburg, 4590 Professional Dr., has opened and is the first major development of Edinburg’s medical corridor being designed to cater to its growing number of health professionals.
Although apartments in the $9.1 million complex are already available for lease, the Residence Property Company is expected to finish construction by May on the eight-building complex located at 4590 Professional Dr.
Rents range from $750 to $1,150 for various one- and two-bedroom plans.
The complex is part of an overall effort by Edinburg to develop the area between Sugar and McColl roads as a medical corridor.
Bookended by two of the city’s largest employers in South Texas Health System and Doctors Hospital at Renaissance, the area also features a number of other medical-related employers.
The Edinburg Economic Development Corp. sold 11.5 acres at slightly below market value to a Houston-based developer.
An economic development study estimated the construction activities for the apartment complex resulted in 115 jobs, representing a payroll of more than $3.7 million. Local and state tax revenues are projected to increase by about $352,000 as a result of the development.
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