Booming Population, Explosive Commercial and Real Estate Markets in Mission, Texas!
MISSION, Texas, Nov. 14 /PRNewswire/ — The 2007-2008 Demographic Market Area (DMA) estimates released by The Neilson Company reveal the border market of Mission, Texas ranked 88th among the nation’s largest DMAs. Successfully jumping three spots from last year’s 91st ranking, Mission is the only market in the top 100 to jump 3 spots in one year.
Mission is located along the South Texas-Mexico border and in the heart of the Rio Grande Valley, an area bustling with dynamic business and trade opportunities. Just a decade ago this area held slightly more than half a million residents. Since the passage NAFTA, Mission and its neighboring population has more than doubled and is now one of the most attractive metropolitan areas in the country to live.
Inc. magazine recently named the Mission MSA among the top 5 boomtowns in the nation. Fortune Magazine named the Mission MSA the best place to buy real estate in the nation and reported median home price in the area is expected to rise 8.5 percent during 2007 and 9.8 percent the following year, making Mission the fastest growing housing market in the nation.
“To accommodate the high demands of the rapidly growing real estate market in Mission, new residential communities are now in development throughout different areas of the city,” explains Pat Townsend, President of the Mission Economic Development Authority. “At least a dozen new subdivisions, schools and businesses are expected to be completed within the coming year.”
High-end communities like Bentsen Palm Development, Sharyland Plantation and Mission San Patricio range from 500 to 6,000 acres and offer families some of the finest neighborhoods in which to live. These master-planned developments feature $80,000 to over $1,000,000 homes in gorgeously landscaped subdivisions complete with schools, community centers, nature parks and conservation areas, sports/parks complexes and retail centers all within a walking distance from their locations.
Another new real estate development in Mission is the Vantage Luxury Hotel Condominiums. These mid-rise, luxury hotel condos are available on one of the most premier locations in the city. Vantage offers high level guest services, state-of-the-art amenities including a business center, fine dining, fitness centers and more. Preconstruction prices for these condominiums start at $169,500 per unit.
In addition to the growing real estate market, Mission is also luring a higher caliber of commercial and industrial developers spurred by construction of the nation’s newest crossing into northern Mexico. The Anzalduas International Crossing, scheduled to be competed in 2009, will connect the most efficient and modern distribution route between Mexico, U.S. and Canada — an added bonus to major developers.
New business developments stirring the economy in Mission have also increased sales tax revenue by at least 12 percent each year, a steady and persuasive sign Mission is continuing its phenomenal growth.
Mission Economic Development Authority
SOURCE Mission Economic Development Authority
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