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It was a Rio Grande Valley legend that closed its doors but it may soon reopen under a new name bigger and better than ever.

Pepe's On The River closed years ago but new investors are hoping to revive it as a regional attraction.

The Mission watering hole was opened along the banks of the Rio Grande River back in 1964 enjoying decades of popularity.

But the landmark restaurant couldn't bounce back from flooding following Hurricane Alex, Tropical Depression Two and Hurricane Hermine during the summer of 2010.

The property languished until six months ago when McAllen concert promoter Angel Gonzalez and Reynosa media mogul Heriberto Deandar teamed up to buy the property.

New Plans

Both Deandar and Gonzalez spoke to Action 4 News about plans.

The tentative name for the venue is "The River Club" and if all goes well, it could be open as soon as June.

Gonzalez said a total of $2 million dollars will be spent in several stages to transform the 11.9-acre property.

Deandar said the first items on the list are opening a restaurant, a bar, a nightclub and then building a 2,000-square foot "beach-style" swimming pool for summertime visitors.

Located next to the Riverside Club Bar & Grill and across the Rio Grande River from the Reynosa zoo, both Deandar and Gonzalez are hoping the area will become a regional destination.

Deandar, whose family owns the El Mañana newspaper in Reynosa, said he often crossed the border to go to Pepe's On The River during his youth.

The media mogul said he hopes that adding the beach-style pool and other features will provide a local alternative to the one and a half hour drive to South Padre Island.

Concert Venue

Gonzalez, on the other hand, earned his chops as a concert promoter with the Old Ice House in McAllen.

Among the plans for the new venue, are a stage that can accommodate an audience from 3,000 up to 15,000 people.

Gonzalez said the most immediate plans are to team up with music promoters from South Padre Island to bring DJs and electronic dance music shows along the shores of the Rio Grande River.

But Gonzalez said the venue will also be able to host a variety of other acts from rock to country to pop acts from both sides of the border.

The McAllen concert promoter said he plans for the venue to host everything from superstar DJs to musical acts such as Alejandra Guzman or even Paulina Rubio.

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Over/Under on how many times a month someone on the other side of the river takes a shot in it

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