D Economy - August 2015

City of Dallas: Dallas Economic Development
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August 2015

Here are the highlights and news stories you may have missed from the past month:

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Center City News

Downtown Dallas building will add parking, retail, apartments and hotel

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.

Huge data center will replace old hotel near downtown Dallas

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

CoreLogic breaks ground on new North Texas office campus

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.

How Klyde Warren Park has changed Dallas real estate

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.

Starwood Hotels & Resorts to open dual-branded Aloft and Element Hotel development near Dallas Love Field Airport

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

BCL of Texas awarded 3rd contract by City of Dallas to operate Business Assistance Center

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.

Digital marketing group Agency Entourage to triple its Dallas footprint

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.

Entrepreneur-friendly Dallas crowned one of the best cities for small business

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

$42-million Bishop Arts project to break ground this month

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.

Editorial: A southern Dallas housing boom

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.

D Econ Yellow Line 2

Economic Review

Dallas area home prices rise during Q2 2015

FHFA Q2 2015

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.

  • 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.

More Dallas Economics

In this edition you'll find

Center City News

The latest developments and projects happening in the downtown core

Real Estate News

The latest real estate development projects and progress

Small Business News

The latest announcements in small business development

Southern Dallas News

The latest developments and projects based in the southern half of Dallas

Economic Review

Unemployment data and more

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