Center City News
The owners of Dallas' iconic Trammell Crow Center are making major upgrades to attract and retain downtown workers. They've purchased a site across the street where they plan on creating 350 apartments, a 200-room hotel and approximately 25,000 square feet of retail and restaurant space. Source: Dallas Morning News, August 6, 2015.
Developers buying the Cabana Motor Hotel have made plans to replace it with a six-story high-tech data center. The data center would be one of the largest near downtown Dallas and would address a growing need for managing internet, telecommunications and data transfer traffic. Source: Dallas Morning News, August 20, 2015.
Real Estate News
This campus, which will be CoreLogic's new regional headquarters, is scheduled to open in 2017 and will include more than 1,300 staff relocated from elsewhere in the region. They will join Nationstar Mortgage, 7-Eleven, and British Telecom as a major employer in the new development. Source: Dallas Morning News, August 11, 2015.
Opened in 2012, the award-winning park has not only replaced concrete with green space and a pedestrian-friendly environment. It has also driven huge growth in the commercial real estate world, with Dallas developers snapping up every square inch of land within close proximity of the park. Source: D Magazine, August 21, 2015.
Scheduled to open in December 2016, the dual-branded hotel will anchor a planned mixed-development complex one mile from Dallas Love Field. The hotel, which is expected to receive the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) certification, will be part of West Love, a proposed 37-acre development that will also feature apartments and more than 24,000 square feet of retail space. Source: Business Wire, August 10, 2015.
Small Business News
Local economic development nonprofit Business & Community Lenders (BCL) of Texas has opened a new Business Assistance Center (BAC) in the Sammons Small Business Center at Dallas' Jonsson Central Public Library. This partnership is BCL of Texas' first ever with a public library. Source: The Dallas Weekly, August 17,
2015.
Agency Entourage is expanding from its current 7,000 square foot space in the Alto 211 building to a new 26,000 square foot location near downtown Dallas. The move is expected to allow the agency to hire 60 or more new employees. Source: Dallas Business Journal, August 6, 2015.
This is the fourth year in a row that Dallas has garnered an A or higher in Thumbtack's survey of almost 18,000 people. The city earned A+ grades from small business owners in every regulation measured, including licensing, tax and labor rules. Source: Dallas Culture Map, August 19, 2015.
Southern Dallas News
The Nazerian family company expects to break ground on streets and underground utilities for its Bishop Arts project this month. The project's first two buildings, which will comprise about 30,000 square feet with retail on the ground floor and office space above, could start going up by the end of the year. Source: Oak Cliff Advocate, August 12, 2015.
While stagnant or falling home prices have traditionally plagued neighborhoods south of the Trinity River, this may be changing. Two of the city's three hottest residential real estate markets are south of the river, a trend that experts say bodes well for efforts to stabilize and revitalize southern Dallas neighborhoods. Source: Dallas Morning News, July 31, 2015.
Economic Review
Source: Federal Housing Finance Agency, Quarterly House Price All-Transactions Index, 100 Largest Metropolitan Statistical Areas, 2015; Dallas Office of Economic Development, 2015. Values not seasonally adjusted.
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The Federal Housing Finance Agency House Price Index is calculated using home sales price information gathered from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.
- Home prices in the Dallas-Plano-Irving Metropolitan Division increased 3.8 percent in the second quarter of 2015. Over the same time period home prices for the entire U.S. rose 1.9 percent.
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