Business News
General Datatech has been growing at 40 percent every year for four years, with over 400 employees coast to coast. They’re now doubling
their Dallas headquarters from 100,000 sq ft at 999 Metro Media Place
to include two adjacent buildings at 8000 and 8120 Ambassador Row. Source: Dallas Business Journal, Nov. 14, 2013.
Real Estate News
In July of this year, construction crews began excavating the site for
a new residential and retail development on McKinney Ave at Routh St. The eight story building will include 17 townhomes and 222 apartments
opening in early 2015. The anchor retail tenant will be a 38,000 square
foot Whole Foods. Source: Dallas Morning News, Oct. 30, 2013.
Toronto-based developer Great Gulf enters the US market with a luxury
residential high-rise at Turtle Creek Blvd and Fairmount St in Dallas.
The 22-story high-end luxury residence will offer 60 units for sale, with
the smallest around 3,400 sq ft. Emphasis is on a luxurious green-space
feel, with open floor plans, large terraces and outdoor living spaces
including outdoor fireplaces, kitchens and lawns. Source: Dallas Business Journal, Nov. 7, 2013.
Southern Dallas News
Trammell Crow Co. and Prudential Real Estate Investors are building
an 823,379 sq ft industrial project on Beckleymeade Avenue at Interstate
20 in southern Dallas. It is the largest speculative warehouse under construction in the Dallas area. Source: Dallas Morning News, Oct. 17, 2013.
City Center News
Dallas Area Rapid Transit on Monday launched D-Link, a circular bus
route that takes riders through south Uptown, downtown and north Oak
Cliff. The route offers free access to and from places like the
Kay Bailey Hutchison Convention Center, American Airlines Center, Klyde
Warren Park and the Bishop Arts District. Source: Dallas Morning News, Nov. 3, 2013.
Ross Avenue is becoming a desirable location in downtown Dallas, as
old buildings change their names and new buildings configure their
design to secure the street’s address. The street continues its evolution, from the grand mansions of Dallas
business leaders in the late 1800s; to an automotive row in a mixed
commercial district of auto dealers, motels, and more in the 1930s; to
Arts District prospect in the 1970s and 80s. Skyscrapers and cultural
facilities have replaced dealerships and industrial buildings in the
last few decades. Source: Dallas Morning News, Oct. 31, 2013.
The Omni Dallas Hotel lawn at Young St and Lamar St will soon be
under construction, bringing four new restaurants and 350 underground
parking spaces to the Convention Center area. Both are a response to
higher-than-anticipated demand. Source: Dallas Morning News, Nov. 1, 2013.
In July of last year Breitling Energy Companies moved to downtown
Dallas. This year they're increasing their office at Pacific Place by an
additional 10,695 square feet. The almost 10-year old business was
previously located near Dallas/Fort Worth International Airport. Boxer
Property bought the tower in 2010. Source: Dallas Morning News, Nov. 6, 2013.
A $100 million transformation of One Dallas Center is the latest in a
string of downtown redevelopments. The office tower, located at the St.
Paul DART station, will soon have 276 “ultra-cosmopolitan” apartments on
the top 15 floors. Resort-style amenities include a pool and cabanas wrapping the apex
of the building, a 5,000 sq ft fitness center three times the typical
size, a bar and lounge, and an adjacent one-acre community park designed
by famed architect Chuck McDaniel. Source: Dallas Business Journal, Nov. 8, 2013.
General News
The Dallas-Fort Worth area has the fifth highest total trade value of
U.S. metro areas, at $420.5 billion in 2010. Trade is almost balanced,
with only a $1.8 billion deficit (0.42%). The food and agricultural trade
leads in imports with a $10.5 billion trade deficit and the textiles trade deficit
totaled $6.06 billion. Source: Dallas Morning News, Oct. 21, 2013.
 Economic Review
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The City’s unemployment rate decreased by 0.3 percentage points to 6.4 percent.
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Despite the decrease in the number of employed Dallas residents, a portion of the decline was due to a number of working age citizens leaving the labor force (see Table 2).
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