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The Rio Grande Valley: Past, Present, Future - 2012
- 1. Past, Present &Future
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- 3. - 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000 1980 1990 20002010 San Antonio (Bexar County) McAllen Metro Paralleled Growth U.S. Census Bureau
- 4. Services & InfrastructureStressed ―Push‖ ―Pull‖ effect
- 5. Labor Force: Large, Young& Trainable McAllen Chamber of Commerce 55% 47% 37.90% 34.20% 10% 20% 30% 40% 50% 60% Mexico RGV Texas United States 47% of Population under 25 of Age (2008)
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- 7. Agribusiness Retail Medical Community Foreign Trade Zone Tourism What drivesour economy? Multi-Faceted Economy
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- 11. Foreign Trade Zone Whatthe FTZ offers: • 775 Acre Industrial Park Warehousing & Storage Low Cost manufacturing $1.3 Billion in products handled annually
- 12. Medical Community Only SectorShowing Significant Growth! Rio Grande Regional –Increased Size: 200 to 320 beds., Doubling size of hospital, Increased Trauma Service to Level 3. Only hospital in the Valley offering pediatric cardiovascular care. Doctors Hospital at Renaissance- Bringing the latest technology in CAT scanners, MRI devices and cardiac catheterization to our area. McAllen Medical Center- Opened area’s only kidney transplant program. Mission Regional Medical Center – Expanded Neonatal ICU and added S.A.F.E Place (Sexual Assault Forensic Unit)
- 13. Tourism Birding Center 9Sites along a 120 mile corridor (SPI to Roma) Over 500 species migrate through the Valley 26 species specific to the Valley Ecotourism boosts economy
- 14. South Padre Island Beautifulbeaches, deep sea fishing, dolphin watching, parasailing, fine dining, shopping & an array of events and activities guaranteed to delight everyone.
- 15. Mexico Recent reports ofcivil unrest and drug violence have created a negative perception of our area. If the conditions in Mexico do not improve, it could have a long-term negative impact on our economy.
- 16. Perception vs. Reality Media Driven 5 state dilemma lead to a global crisis
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- 19. “Economic policy canresult from governmental inaction as well as governmental action.” -John F. Kennedy TARP Money Abused Too Big To Fail Mentality
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- 23. McAllen MSA rankedone of the top 100 Leading Locations for doing Business in 2011 - Area Development Magazine, 2011
- 25. Brookings Metro Monitor McAllenMSA ranks among Top 20 Strongest Metros in the US March 2011 — Metro Monitor: Tracking Economic Recession and Recovery in America’s 100 Largest Metropolitan Areas
- 26. McAllen ranked No.1 mid-market cities for the top emerging restaurant markets & restaurant expansions the U.S. - QSR magazine, 2011 Quick Service Restaurant
- 29. La Plaza Mall Simon Owned Top Sales-Producing Retail Mall in Nation Avg. $650/psf sales 1,203,000 sf Macy's, Dillard's(#1 in nation), JCPenney, S ears, Joe Brand
- 30. Palms Crossing Expwy. 83& Ware Rd. 100% Community & Lifestyle Center 322,000 sf development Bealls, Chocolate Factory, Cavenders, PF Chang’s
- 31. The Shoppes atRio Grande EDINBURG 1.1 million sf open-air center on 130 acres $80 million development, $ 90 million economic impact JC Penny, TJ Maxx, Academy (just added 90,000 sf)
- 32. ―Information is the currencyof democracy.‖ -Thomas Jefferson
- 33. Rapid Response Center 280-acreresearch & educational park Mind to market in 30 days Creating a Culture of Innovation! Creates Competitive Advantage The New Silicon Valley!
- 34. Santana Denim Plant “Welcometo Denimburg!” $180 million denim-manufacturing plant 23-acre site along U.S. Expressway 281 Will create an estimated 800 new jobs by 2015 and 3,200 indirect jobs to Valley suppliers Will pump millions of dollars into local economy
- 35. McAllen MSA 0 500 1000 1500 2000 2500 3000 2006 20072008 2009 2010 2011 2579 2714 2565 2465 2335 1180 Total Units Sold - YTD 115 130 145 160 2006 2007 2008 2009 2010 2011 138 143 147 148 147 146 Avg. Days on Market - YTD 0 25000 50000 75000 100000 125000 150000 2006 2007 2008 2009 2010 2011 $128,990 $129,690 $122,617 $119,525 $124,751 $126,446 Average Sold Price - YTD 0 50 100 150 200 250 300 350 400 2006 2007 2008 2009 2010 2011 $333 $351 $313 $294 $298 $148 Total Sold Dollar Volume - YTD In Millions
- 36. Housing Starts Jumpstart Economy Pre-Construction •Title Companies • Mortgage Co. • Insurance Co. • Contractors • Realtors • Attorneys • Engineers • Surveyors • Architects • CPA’s • Bankers Construction • Plumbers • Electricians • Painters • Brick Layers • Carpenters • Inspectors • Appraisers • Lumber • Brick • Flooring • Concrete Post Construction • Furniture • Appliances • Electronics • Landscapers • Hardware • Window Coverings • Security System • Interior Decorators • Home Entertainment • Pool Maintenance • Sprinkler Company
- 37. Valley Resourcefulness • ContinuedJob & Population Growth • Emergence of New Innovations • Construction Expansion • Increased Presence in Global Economy
- 38. CHARLES MARINA, CCIM,CRB, GRI First American Realty Co. 3827 N. 10th St. Suite 105 McAllen, TX 78501 (956) 682-3000 Email: cmarina@firstamrlty.com Website: www.FirstAmericanRealty.com http://www.facebook.com/chasmar1 http://twitter.com/FarcRGV http://www.linkedin.com/in/cmarina37
Editor's Notes
- #3 If you had visited the Valley 30 years ago, you would find the frontage roads along the Expressway lined with Groves and some even nestled in between commercial developments on 10th Street, lots of Palm trees and not much else. However that was all about to change, the real estate boom was in its infancy, We began to experience Urban Sprawl and soon the fresh scent of the orange blossom was replaced with the smell of fresh lumber.
- #5 Growth and development are wonderful but they bring new challenges with themI call this the “Push” “Pull” effectFor every push, there is a corresponding pullThe push is the Growth and development and the pull is the strain placed on our infrastructure. We must plan ahead to accommodate our projected population growth. Our City services may be compromised, Stressed and tested: Police, fire and ambulance service may not be able to address the needs of a growing population. If not scenes like this portrayed in the photo will become a daily common occurrence, and not only on the Expressway but within our city streets. We are already seeing sign of traffic congestion on 10th and Noalna and other major arteries.
- #18 Some want to blame the recent recession on the Real Estate industry, calling it a real estate crisis, nothing could be further from the truthI say, it was a Financial Meltdown led by Bad Lending Practices that not only took down the real estate industry but had a far and wide reaching negative impact on the global economy. Mortgage companies were spring up seemly overnight; many were fly- by-night operationsLoan applications were approved with ease; some were called no doc loans with no or very little down paymentYou could even borrower money online and have the money deposited into your account the next day All this was driven by “greed and rampant speculation”
- #19 The old financial lending model was simple but sound Money comes into the bank in form of deposits the banks in turn loan the money to consumers (Jokingly) Artie, maybe you can help me explain the new system? (Jokingly)Looking at the New System, I find it difficult to explain, all I can really see is Greed. The new system, driven by greedy Wall Street speculators said, lets create Securities, Bundle them up sell them to Warehouse Lenders who in turn sell them to Mortgage banks and then finally the consumer.
- #20 John Kennedy said, “Economic policy can result from governmental inaction as well as governmental action”.TARP is an example of government Action,Which fell miserably on its face, the Fed with their infamous wisdom wanted to stimulate the economy by supplying banks with huge sums of money which in turn they were suppose to loan to the public what instead what did they do the large mega banks gobbled up smaller weaker banks putting money back into the economyInstead, banks used it to acquire more banks gobbling up small weaker banksWith no oversight, TARP proved to be a disaster Another example of Governmental action was when the feds bailed out AIG, “The Too Big to Fail” mentality was at work and for the most part, I agree with their decision. However, Governmental inaction allowed the 4th largest financial institution in the country to fall flat on its face and go into bankruptcy. The Feds sat back and did nothing .Lehman Brothers stock plummet from almost 70 dollars a share to 2 dollars a share. Warren Buffet attempted a hostile takeover at 40 dollars a share but was denied. This was the Too Big To Bail mentally” This type Government inconsistency led to fear in the market place and created a rippling effect throughout Global marks. Whoever coined the phrase, “The do nothing Congress had it right”. Gridlock and personal agendas seem to be the order of the day. The Country is faltering and looking for direction. Washington is completely4 largest banks – last qrt $3.6trill46 next largest – last qrt $2.6 trill
- #23 To further proof the resilience of the Valley and that it truly is Recession Proof, Experts say the Valley entered the recession 2ndQrt 08, almost one year after the rest of the country entered the recession. The Valley was last to enter and emerged the same time the official date for the rest of the country occurred.
- #28 Forbes ranked McAllen as the least toxic city in the US.I had to really think about this it even took me back, I asked what is the significance of this and why do we care. The answer is before a family moves or relocates, they want to know they will have a clean environment to live in, and industry wants the same for the workers.Based on: Air QualityWater QualityLand Fill (Management/Size)Green Initiative
- #37 While we are on the topic of real estate, I want to share with you something I have been working on. Multiplier effect Pulls economy out recessions, props up economyNAR every house purchased two jobs created.Housing starts will jumpstart the economy, when you consider the components that make up a new house. And who all is involved and which sectors of the economy it touches. Land sale, title co., ins. Co., Mortg. Co., appraiser, bldg. inspector, realty, atty, surveyors, engineers, landscaping, irrigation , concrete ., plumbing, elect. Lumber, hardware, brick, flooring, Appliance, Furniture and much much more.