RxGibbs

Wait a minute...someone named a sports team after a yappy little dog?

 

Yep, and it was hugely controversial. Probably a marketing gimmick intended to get people talking.

El Paso is experiencing its biggest development boom in 40 years. Part of it is the big expansion at Ft. Bliss, another element is the steady growth of the border logistics hub. When the Verde Group sold out to Brookfield properties for $888 million, the area got hooked up to a $150 billion development powerhouse with a direct line to Wall Street. The formation of a major regional bank is also underway which will finally match local needs with a lender that actually cares about El Paso. Finally, El Paso has a Fortune 500 benefactor in Western Refining and billionaire Paul Foster who was behind the new ballpark. Throw in the New Medical Center of the Americas and Texas Tech Medical Center and the stars are aligning for El Paso.

Some highlights:

New William Beaumont Army Medical Center: $1 billion

Montecillo new urban development: $700 million

TXDOT projects $1-2 billion

Tenet Healthcare hospital projects: $120 million

New ballpark: $50+ million

MCA-Texas Tech Medical center: $500+ million

Aldea SmartCode development: $100+ million

Union Pacific intermodal hub at nearby Santa Teresa NM: $400 million (this eliminates a major east west bottleneck for the railroad)

15 story downtown hotel

11-12 story downtown apartment building

And a variety of retail and residential projects including the $70 million Fountains at Farah.

ASARCO stack is gone, City Hall is gone, the El Paso Chihuahuas new stadium is midway through construction and an 11-12 story apartment tower has been proposed for a site nearby. Fountains at Farah, a 600,000 sq. ft. shopping complex has opened and Montecillo is moving deeper into its phased development with a town center shopping development on tap. More later...