Business News
Halycon is bringing new coffeehouse concept to Lower Greenville
Halcyon Coffee Bar and its coffeehouse/lounge concept is coming to Lower Greenville. In the morning customers will be able to get their standard caffeine fix, then return in the evening for that same fix, but spiked with wine or beer. During the day brunch and desserts will be offered. In addition, customers will be able to build custom s’mores at their table, complete with sterno. Halcyon is scheduled to open in March. Source: Dallas Culture Map, February 2, 2017.
City Center News
Popular home decor company picks Dallas Farmers Market for flagship store
Oklahoma-based Urban Farmhouse Designs, known for its one-of-a-kind home furnishings, is opening a store at 1011 S. Pearl Expressway, across the street from the Dallas Farmers Market. It’s anticipated that 60 new jobs will be created. Owners Jason and Cherami Thomas, who say they sell “Reclaimed furniture made by reclaimed people,” will look to employ workers from half-way houses and local artisans who need assistance. Source: Dallas Culture Map, January 26, 2017.
The first phase of Dallas' "Smart City" initiative to launch at the end of February
Big changes are coming to Dallas’ historic West End, courtesy of the Dallas Innovation Alliance. New, cutting-edge technology will be added, including free public Wi-Fi, energy-efficient streetlights and sensors that measure air pollution and detect noise. The additions are part of a “smart cities” initiative, where technology and big data can be used to boost safety and overall quality of life. The first phase of the project will be unveiled at the end of this month. The Dallas Innovation Alliance is a private-public partnership between the City of Dallas and more than two dozen large companies and local foundations. Source: Dallas Morning News, February 6, 2017.
Downtown Dallas tower gets reboot as data center
Downtown Dallas’ 2020 Live Oak tower has just been renovated into a state-of-the-art data center by new owners Provision Data Services. Provision CEO Clay Hill said they’re looking to “Provide best-in-class infrastructure technology for Fortune 500 enterprises to small independents.” Because of its location, the building has access to redundant power sources and high-capacity fiber telecommunications, which means "There's plenty of power and plenty of communications" says Hill. Source: Dallas Morning News, February 13, 2017.
Real Estate News
Aloft, Element hotels open at Dallas' West Love project
The Aloft and Elements hotels, part of the new West Love development on Mockingbird Lane, have opened. Located just west of Dallas Love Field Airport, the hotels "Will cater directly to the growing demands of travelers near the airport and the Medical District" per Perry Molubhoy of the Atlantic Hotel Group, which built the hotel with Civitas Capital Group. Additional phases of the West Love project include a 370-unit apartment community currently under construction and a 150,000-200,000 square foot office building. Source: Dallas Morning News, February 14, 2017.
Lakeside apartment and retail projects kick off at Cypress Waters
Cypress Waters’ developer Billingsley Co. is breaking ground on the next phase of the project, lakeside apartments and retail space in a new area of the development called The Sound. The Sound is where the headquarters of jewelry retailer Zale Corporation will be located. Architect Hensley Lamkin Rachel Inc. designed the new buildings. Source: Dallas Morning News, February 14, 2017.
Publicis’ Hawkeye gets creative with their new Uptown HQ
Marketing agency Publicis Hawkeye is moving to new Uptown headquarters, where it will be able to house all 300 of its employees. The new, expanded space will be built around the concept of neighborhoods or branded working groups, allowing groups to work in an environment that reflects the team’s work and culture. Plans are for the company to move into the new space this summer. Source: Dallas Business Journal, February 14, 2017.
Redevelopment of Valley View Center area continues with Macy’s building demolition
Demolition has begun on the Macy’s building in the Valley View Center, considered the latest step in the multi-billion-dollar, multi-developer redevelopment of the Dallas Midtown area. The Macy's site is owned by EF Properties, a real estate and investment firm that owns about 20 acres in the area. Per EF's CFO Karen Owens, “We have to get the Macy’s down to start the multifamily project.” The demolition of Macy’s is expected to be complete by May 1. Source: Dallas Business Journal, February 16, 2017.
Southern Dallas News
Co-op brings fresh food, business incubator to Oak Cliff
New co-op Recipe Oak Cliff has opened near the Dallas Zoo, offering local health food businesses incubator space. Founder Tisha Crear, who also founded the Susu Cultural Business Incubator, wanted to offer the neighborhood something other than the usual options of liquor or convenience stores. In addition to the incubator space, Crear will offer cooking classes to local residents, to teach them how to prepare healthy meals. Source: Dallas Innovates, February 2, 2017.
The District Incubator to Bring DEC Model to Fair Park Area
The Fair Park District Entrepreneur Center, also known as The District, will open this spring. The District is a collaboration between the Dallas Entrepreneur Center (DEC), the City of Dallas, and the United Methodist Church, with the aim of benefitting entrepreneurs in the Fair Park neighborhood. The District will be located at the corner of Martin Luther King Jr. and Malcolm X boulevards. Source: Dallas Innovates, January 25, 2017.
 Economic Review
Dallas Area Home Prices Rise During Q4 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 by 1.71 percent during the fourth quarter of 2016. Over the same time period, home prices for the entire USA rose by 0.80 percent.
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