Mixed use developments are areas designed to blend residential, retail and office/commercial spaces in a pedestrian-friendly environment. And they’ve done very well in the Dallas area. In Uptown, the West Village opened in 2001, and has been booming ever since. Starting at 125,000 square feet, it will soon grow to over 250,000 square feet, with shops and entertainment and rubbing elbows with offices and condos. In Plano, the Shops at Legacy are a similar success. Its been estimated that some […]
More good news for the construction industry
Universities all over the United States were, like other institutions, hit by the recession. But as the recovery continues, university finances are doing so as well. Which means construction projects that were put on hold are now roaring to life. Private universities are leading the way, not being dependent on state budgets. Yale, with its generous donors, has raised $500 million dollars to construct two new residential colleges. Massive projects are similarly underway at Notre Dame. And Texas, of course, is building […]
Texas Job Growth Continues
The business climate in Texas must be tempting. And the Texas Workforce Commission has the numbers to prove it. In October, Texas added over 35,000 new seasonally-adjusted jobs, bringing the yearly total up to nearly 422,000 total. And the good news doesn’t stop there. The state unemployment rate also fell from 5.2 percent to 5.1 percent. Altogether, Texas has set the record for adding jobs for three months in a row. Texas Workforce Commission Chair Andres Alcantar is reported to […]
Multifamily Housing Prospects in DFW
In June 2013, Greg Williams, national leader of KPMG LLP’s real estate division, predicted North Texas would be a major target for real estate investors due to the projected growth in the area. Almost a year later, that prediction seems to have been prophetic. According to Marcus & Millichap’s 2014 Annual Report, the multifamily market has shown a 40 percent increase in transaction velocity. The Q4 2013 report compiled by CBRE showed a 92% occupancy rate for existing multifamily units […]
Chan Patel: From $2 Million to $90 Million in 27 Years
In an April article, “Chan Patel turned to other motel owners to start State Bank of Texas“, Asian Hospitality journal reports how Chan Patel founded the State Bank of Texas in the 1980s with only $2 Million in capital, and then steadily built upon that to show $90 million in equity capital and total assets of $432 million now. The bank is particularly successful with commercial real estate (“CRE”) loans — so much so that the FDIC allows it to […]