RIO GRANDE CITY, RGV – Starr County Industrial Foundation has announced that developers have finalized the acquisition of more than 150 acres of land in Rio Grande City.
St. Ives Realty, LLC and Rio Grande Village, LLC, a Dallas based group of national developers, are planning a multi-million dollar investment on the land, which is opposite the Walmart on U.S. 83. In the first phase, 40 acres of mostly retail development is planned.
Rose Benavidez, president of Starr County Industrial Foundation (SCIF), said the two groups will master develop the mixed-use property to include retail, commercial, national restaurant chains, lodging, office space and industrial facilities, among other potential uses.
“Strategically located on premium frontage property off of US Highway 83 in the Rio Grande City business district, this development will serve as a catalyst for economic growth and job creation for our community,” Benavidez predicted.
“This project is a result of years of extensive negotiations and productive collaboration that was only made possible with the support and partnership of the City of Rio Grande City, RGCEDC and the County of Starr.”
SCIF has been Starr County’s main economic development corporation for the past 40 years. The group has been working on the project with St. Ives Realty, Rio Grande City, Rio Grande City Economic Development Corporation and Starr County for much of the past decade. The work has included taking approximately 90 acres of land out of a flood plain.
Starr County Judge Eloy Vera is delighted the deal with St. Ives Realty, LLC, and Rio Grande Village, LLC, is finally complete.
“We understand that once it’s fully complete this project will bring in over 500 jobs and will be the mecca for retail in Starr County,” Vera said. “We are excited and applaud the efforts of the Starr County Industrial Foundation, who never gave up on this project, created regional partnerships and with the support of the City of Rio Grande City and RGCEDC made this a reality.”
In a news release, SCIF described the project as historic.
“This historic undertaking began its strategic development planning over seven years ago, but is expected to move forward swiftly. Aside from creating hundreds of jobs the project is also anticipated to infuse millions of dollars of new sales and ad valorem tax into the community,” the news release stated.
“Phase I of the project is expected to break ground in the next few weeks and will continue with an aggressive recruitment and construction timeline.”
In a previous Rio Grande Guardian story about the project, Rio Grande City Mayor Joel Villarreal said the transformation of his city will be phenomenal.
“As I’ve said before Rio Grande City is a place for your family to thrive, and is second to none,” Villarreal said.
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