General News
The federal regulations that have restricted flights from Dallas Love Field for nearly 35 year were lifted in October. As a result, airlines operating at Love Field can now offer nonstop flights from Dallas to any city in the contiguous United States. Southwest Airlines has added 22 direct flights daily to seven new cities. Source: Dallas Morning News, October 12, 2014.
Real Estate News
New home sales in North Texas have risen to the highest level in six years. Since 2007, the median price of a new home in North Texas has also increased 33% to $275,000, and new home construction has risen 11.4% over last year. Source: Dallas Morning News, October 6, 2014.
A new report by commercial real estate firm Cushman & Wakefield ranks Dallas 9th in the world for real estate investment. Dallas recorded $14.1 billion in real estate investments between July 2013 and June 2014, which was a 32.5% increase over the previous 12 months. Dallas was also identified as a market where office purchases by investors are likely to increase in 2015. Source: Dallas Morning News, October 8,
2014.
Presbyterian Village North broke ground on a $93 million campus expansion. The development includes two new residential buildings, expanded assisted living facilities, and a fitness center. The 350,000 SF campus is expected to create 150 jobs and will house 200 additional seniors. Source: Dallas Business Journal, October 14, 2014.
High Street Residential plans to develop a 20-story mixed-use tower at 3230 McKinney Avenue in Uptown. In addition to 271 residential units, the project will contain 13,000 SF of retail and commercial space, including a new home for Cafe Express and a new McKinney Avenue Trolley Barn. Source: Costar Group, October 3, 2014.
City Center News
The Deep Ellum Crossroads project, a proposal to revitalize currently vacant and underutilized buildings along Main, Commerce, and Elm Streets in Deep Ellum, is moving forward. The $18.4 million redevelopment project will feature repairs and improvements to properties within the district's historic core, as well as infrastructure improvements. Source: Dallas Morning News, September 24,
2014.
The Dallas Farmers Market will soon be home to four new restaurants and an Italian coffee shop. The renovations to Shed 2, expected to be completed in spring 2015, will include Rex's Seafood and Market, Stock & Bondy, Nammi/Coolhaus, and Palmieri Cafe. Source: Dallas Business Journal, October 1, 2014.
Southern Dallas News
The State Fair of Texas had a record-breaking year, with an estimated $41 million in food and entertainment coupon sales. Proceeds from the fair help to preserve Fair Park, as well as fund scholarship programs for students pursuing agricultural degrees throughout Texas. Source: Dallas Morning News, October 19, 2014.
The Dallas Zoo had record attendance for the fifth straight year in 2014, welcoming more than 943,000 visitors. Promotions such as $5 admissions in January and February and the Safari Nights evening concert series contributed to a 3% increase over last year. Source: Dallas Morning News, October 18, 2014.
Kansas City based developer Flint Hills Holdings Group has purchased the 111-year-old Hughes Brothers Candy Factory building on Ervay Street in the Cedars. Plans include converting the 5-story historic landmark into loft apartments. Source: Dallas Morning News, October 17, 2014.
 Economic Review
- The Dallas preliminary unemployment rate for September decreased by 0.5 percentage points to 5.4 percent. Dallas outperformed the nation’s unemployment rate in September by 0.3 percentage points.
- The rate's change was the result of a decrease in the net number of unemployed despite an increase in the city's labor force.
- A likely contributor to the decrease in unemployed residents is the seasonal return of teachers.
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