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.