The city of McAllen announced an estimated $230 million investment to develop the Boeye Reservoir property on Tuesday, with officials saying it will put the city on the map and transform the region as a whole.

According to city officials, the development will feature a recreation district anchored by “a sterling waterfront.”

“It will include a full-service luxury hotel and an artisan village with vibrant, local retail stores and fine dining,” City Manager Isaac “Ike” Tawil told a crowded room Tuesday.

Tourist destination

“This is more than a project. It’s a promise to shape McAllen’s future as a regional destination where opportunity and innovation thrive,” Tawil said.

The city manager compared the development to other tourist destination cities across the state and said the project is anticipated to have a significant economic impact.

City officials expect construction to support at least 2,200 jobs and generate over $95 million in labor income. When completed, they estimate 460,000 people will visit the development every year, spending about $35.6 million annually and sustaining almost 900 permanent jobs worth about $26 million in wages and salaries.

“We’re not talking about just adding a new development. We’re building a destination that will redefine what it means to live, learn and invest in South Texas,” Tawil said.

The city began soliciting bids from a master developer for the project Tuesday.

Bids are due in mid-December. Tawil said the city has been weighing plans for the reservoir property for decades. It considered similar ideas for the property in the past.

Mayor Javier Villalobos said the city ‘s current plans for the property are the right ones. He says there’s vision behind them.

“This project is, I think, one of the biggest projects the city has ever done,” he said.

Redevelopment at a Glance

Total investment:

• Estimated $230 million mixed-use project

Projected construction impact:

• 2,200 jobs supported during construction
• $95 million in labor income
• $136 million contribution to GDP
• $330 million in total economic output

Long-term economic impact:

• 460,000 visitors annually
• $35.6 million in yearly visitor spending
• 900 permanent jobs sustained
• $26 million in annual wages and salaries

Planned features:

• Recreation district anchored by a “sterling waterfront”
• Full-service luxury hotel
• Artisan village with local retail and fine dining
• Mixed-use development combining recreation, retail, and hospitality