EL PASO, Texas (KFOX14 / CBS4) —
The area around Interstate 10 and Zaragoza Road in the Lower Valley is one step closer to being developed with an entertainment and retail district.
The 30-acre site, which is just north of Blackie Chesher Park and south of I-10, has been vacant for decades, and council approved a memorandum of understanding (MOU) with First Hartford Realty Corporation related to the development.
The MOU means the city will work with First Hartford to create a development that could include retail, dining, hospitality and entertainment uses.
It also identifies any infrastructure improvements that must be completed in order for development to take place.
The MOU acknowledges that First Hartford Realty will be seeking an incentive and development agreement from the city within one month.