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City-County leaders receive update on 'Lake Padre' development on Padre Island

The multimillion-dollar project will be built in different phases over the next 12 years and will include a mixed use residential and entertainment district.

CORPUS CHRISTI, Texas — The transformation of the 'Lake Padre' area at Park Road 22 and Highway 361 is slated to get underway before the end of the year.

It would turn over 100 acres on Padre Island into a mixed residential and entertainment district.

The Tax Increment Reinvestment Zone or TIRZ 2 Board was able to see a glimpse of what could be a real game changer for the Island and the city.

"Adding a destination per say to Padre Island, mixed use everything from a marina to commercial to retail to entertainment area," Corpus Christi District 4 Councilmember Dan Suckley said.

The project will be developed in different phases over the next 12 years, and has already seen significant ground work with dredging and bulk heading of the lake. 

"The water exchange bridge should be opening hopefully in the next 60-90 days.  That is exciting, connects the two sides of the road, eastside and westside of Park Road 22 to have better mobility," he said.

Corpus Christi Mayor Paulette Guajardo said that the development won't only benefit the island economically but the entire city.

"Very exciting, were talking about $7.5 million tax revenue increase for the city, not to mention a lot of community areas that will be made available to our citizens and tourist," she said. 

Along with that estimated tax revenue, an economic impact study estimates the addition of 500 permanent jobs that will be created. Once infrastructure is in place, phase one is expected to begin this year. 

Phase one includes an investment of $188 million with the marina, some of the apartments, hotel, and canal retail, residential and a boardwalk. 

Phase five is not expected to be completed until 2035.

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