Southern Dallas News
D ECONOMY EXCLUSIVE: Notice of Funding Availability (NOFA) for Southern Dallas food desert grocery store development
The City of Dallas is pleased to announce the availability of funding in an amount up to $3 million to assist in the development and/or location of one or more high quality grocery stores of at least 25,000 square feet within or adjacent to a southern Dallas food desert. Source: www.DallasEcoDev.org, July 15, 2016.
Deep Ellum-based ISP begins offering 10 Gbps broadband
Internet service provider Ellum.net has announced it will offer its new 10 Gbps fiber network to its customers, most of whom are based in Deep Ellum and surrounding neighborhoods. The company is one of the first in North Texas to make the jump from 1 to 10 Gbps, a speed that is more than 700 times faster than the average internet speed currently offered in the U.S. Source: Dallas Business Journal, June 27, 2016.
Business News
Workforce, productivity, air connections sharpen Dallas' competitive edge
The latest edition of the Dallas Economic Profile provides a wide range of demographic and economic data for the City of Dallas and the greater DFW area. Included is information on local workforce, education, public and private companies, transportation, cost of living, logistics and more. Source: Source: Dallas Business Journal, July 12, 2016.
CBRE ranks the Dallas area sixth on tech talent
CBRE has released a report that ranks the Dallas area the sixth best large market for tech talent. CBRE's study focused on the 50 largest markets in the U.S. and Canada, ranking each for its appeal to tech employees and the employers who hire them. The Dallas area is especially appealing to tech talent due to its lower cost of living than the top five markets. Source: BisNow, July 7, 2016.
Kohl's hiring 300 for its Dallas customer service center
In preparation for this year's holiday season Kohl's has announced it will be hiring approximately 300 people for its Dallas facility, located at 17655 Waterview Parkway. The 300 hired will be a mix of full-time, permanent and seasonal jobs. Currently more than 700 people work at the facility, providing customer service support for Kohl's.com and Kohl's store-branded credit card. Source: Dallas Morning News, July 11, 2016.
City Center News
An inside look at the lofty apartments in the Butler Brothers Building
The $90 million redevelopment of the nine-story building in downtown Dallas, across the street from Dallas City Hall, is nearing completion. Located at 500 South Ervay Street, the nine-story building has 238 New York loft-style apartments, 15,000 square feet of retail and restaurant space, 11,000 square feet of boutique office space, and a 274-room Marriott Hotel. Source: Dallas Business Journal, July 5, 2016.
Real Estate News
Construction completed on Ulta's new Southern Dallas distribution hub
Ulta's new 760,000 square foot distribution center, located in Southern Dallas' Mountain Creek Business Park, has been completed. The project developer was Prologis, the Conlan Company was the general contractor, and Alliance Architects was the designer. Ulta is one of a number of new industrial tenants that have recently moved into North Texas. Source: Dallas Business Journal, June 29, 2016.
Dallas' Cypress Waters lakeside project begins with offices, apartments, retail
Developer Billingsley Co. has announced plans to start on the latest part of its popular Cypress Waters project, which will be built on the south shore of 360-acre North Lake and will include a 250,000 square foot office building designed by Gensler, 500 apartments and several retail buildings. Referred to as The Sound, this phase is considered the centerpiece of the 1,000-acre Cypress Waters community. Source: Dallas Morning News, July 7, 2016.
Knox Street district apartment and retail project on track for opening in early 2017
Knox Heights, the latest project from High Street Residential, is on schedule to open early next year. The six-story development, located on McKinney Avenue just north of Knox Street, will have 182 high-end apartments, 13,500 square feet of retail, and a 363-space underground parking garage. Source: Dallas Morning News, June 27, 2016.
Uptown Dallas' landmark Crescent gets a $33 million upgrade
Dallas landmark The Crescent has received $33 million worth of renovations that include more pedestrian-friendly areas, a new Ascension coffee shop, signage, lighting and outdoor furniture. While there's some work still to be done, such as the completion of a new Shake Shack building and landscaping, the majority of work has been completed. Source: Dallas Morning News, June 28, 2016.
Economic Review
City Unemployment Rate Rises with Increase in Labor Force
  Source: Texas Workforce Commission; Preliminary values, not seasonally adjusted.
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The preliminary unemployment rate as reported by the Texas Workforce Commission for the City of Dallas for June 2016 increased to 3.9 percent. The rate reflects a 3,040 person increase in the size of the city’s labor force, while employment remained virtually unchanged.
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June was the 16th consecutive month that the reported unemployment rate within the City of Dallas has outperformed the state’s unemployment rate, and the first month on record that the unemployment rate within the City of Dallas was lower than the total unemployment rate for the Dallas-Fort Worth MSA.
- The increase in the reported size of the city’s labor force is likely due to recent graduates seeking employment.
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