General News
EXCLUSIVE: Notice of Funding Availability (NOFA) for Southern Dallas Food Desert Grocery Store (Issued July 2016)
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, August 23, 2016.
EXCLUSIVE: The 2016 Dallas Economic Profile is now available
The Dallas Office of Economic Development is pleased to announce that the 2016 Dallas Economic Profile is now available. The 2016 edition provides a snapshot of demographic and economic statistics as well as the latest on what’s happening in the City of Dallas. Looking to relocate your business to Dallas? Need the right workforce? Or find lifestyle options that work for you? The 2016 Economic Profile has all the information you need and more. Source: www.DallasEcoDev.org, August 22, 2016.
Business News
Studio Movie Grill reels in larger headquarters
Entertainment company Studio Movie Grill has moved its Dallas headquarters into a 20,200 square foot space at 12404 Park Central Drive to accommodate growing staff. While Studio Movie Grill currently employs 52 at its headquarters, the company stated it was likely to add more staff as it opens additional theaters. Source: Dallas Business Journal, July 28, 2016.
City Center News
Dallas' Butler Brothers Building is ready for residents
The former warehouse known as The Butler Brothers Building is now ready for residents, having been converted by Alterra International into a hotel and residential building. Approximately 20% of the 238 apartments are now occupied or under lease. There are plans to add three restaurants, with the adjoining Marriott Hotel scheduled to open in December. Source: Dallas Morning News, August 8, 2016.
From motor bank to skyscraper: work starts on notable downtown Dallas corner
The site of the former Bank of America motor bank, at the corner of Field Street and Woodall Rodgers Freeway, is being prepared for demolition by developer Hillwood, who bought the site almost two years ago. While preliminary designs for an office skyscraper have been done by Hillwood, the developer is looking for tenants for the proposed buildings before breaking ground. Source: Dallas Morning News, July 26, 2016.
Landmark Dallas skyscraper gets a new name and redevelopment plan
The landmark First National Bank building is getting a new name – The Drever – as part of a major redevelopment by Drever Capital Management. Plans include a 236-room five-star hotel, 348 apartments, a spa and wellness center, restaurants, retail and entertainment options. The project will include a terrace rooftop deck, complete with pool, fire pits, fitness center and dog park. The tower is scheduled to open in 2018. Source: Dallas Morning News, August 9, 2016.
Dallas architect Corgan expanding its downtown headquarters in the West End
Dallas architect Corgan is making a major expansion to its downtown Dallas headquarters in the West End district, adding on to its 10-year old building at Houston Street and Ross Avenue. Construction will begin this fall and should be completed mid-2018. Corgan has over 500 staff worldwide, including Dallas, Houston, New York, Phoenix, Los Angeles, San Francisco, Beijing and Hong Kong. Source: Dallas Morning News, August 4, 2016.
Real Estate News
Dallas' newest Uptown tower opening its doors with high design
Designed by award-winning architect Pelli Clarke Pelli Uptown’s newest tower, McKinney & Olive, is about to open its doors. The project includes the high-rise, all in silver, as well as a two-story shopping center and a parking garage clad in ribbons of stainless steel. A 1-acre park runs along the Olive Street side of the project. The $225 million, 20-story complex expects its first tenants by the end of this month. Source: Dallas Morning News, August 4, 2016.
Small Business News
Dallas Entrepreneur Center expands its footprint
Local startup hub the Dallas Entrepreneur Center (The DEC) has expanded its West End offices, expanding its coworking space on its third floor, dubbed the “Innovation Hub.” Current tenants include Dallas-area startups Mend, which offers house calls to sick kids, and Glass-Media, which creates high-tech digital displays for storefronts. Aspiring entrepreneurs can also sign for new educational program Project Edu, with classes on topics such as startup law and finance. Source: Dallas Morning News, August 4, 2016.
Southern Dallas
Ulta Beauty to employ 500 at new southwest Dallas distribution center
Ulta Beauty, the largest beauty retailer in the U.S., is scheduled to open its new 700,000 square foot distribution center by the end of this month. The new facility is located in southwest Dallas in the Mountain Creek Business Park on Interstate 20, and is Ulta Beauty’s largest distribution center in the country. The company plans to start with 280 employees, ramping up to approximately 500 by 2018. Source: Dallas Morning News, August 17, 2016.
 Economic Review
FHFA House Price Index Q2 2016
 Source: Federal Housing Finance Agency, Quarterly House Price All-Transactions Index, 100 Largest Metropolitan Statistical Areas, 2016; Dallas Office of Economic Development, 2016. 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 3.33 percent during the second quarter of 2016. Over the same time period home prices for the entire U.S. rose 1.9 percent.
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