A former water reservoir near the McAllen International Airport is closer to being redeveloped.

City leaders told Channel 5 News they want to convert the prime real estate off the expressway between 23rd Street and Bicentennial Boulevard into new businesses and housing.

The city says it's taken nearly 30 years to get concrete plans on what to do with the site.

“We contemplate spending some serious money out there,” McAllen City Manager Roy Rodriguez said. 

Rodriguez says the city is willing to spend up to $75 million dollars on the redevelopment, which is already in the design stage.

McAllen commissioners previously approved a resolution that would allow them to recover whatever money the city spends on the project through a bond issue.

McAllen District 3 City Commissioner Omar Quintanilla voted against the resolution that would allow the city to spend money on the project.

“We have turnover at city hall right now,” Quintanilla said. “Our city manager is retiring, our finance director has recently left – for me, it's not the right time, and it's too big of a project.”

Quintanilla says he prefers McAllen voters decide on the bond to pay for the project.

The city plans on showing what the redevelopment will look like by the end of February 2025.

Watch the video above for the full story.