A total of 271 jobs are expected to be created with the completion of a proposed Cambria Suites Hotel neighboring the McAllen Convention Center.
The project involves development of 2.31 acres and the construction of 74,848 square feet of total building area. The hotel will include 121 suites and 117 parking spaces.
McAllen Strategic Group, LLC, a Delaware Limited Liability Company and its affiliates Fulcrum Management and Sharkin Enterprises have applied to the McAllen Regional Center for funding of the $8 million project through the EB-5 Visa program. As part of the McAllen EB-5 Regional Center, the project will create a total of 271 jobs, with 164 being EB-5 qualified. The household income for the direct jobs created within the regional center totals $6.47 million.
In addition, according to the McAllen Economic Development Corporation, “the business relationships and employee spending created by the regional center business activity will result in induced and indirect combined household income impacts of $1.74 and $1.33 million respectively in household income.