Uber getting plans off the ground for air taxis in Dallas, Los Angeles

A year ago, Uber announced that Dallas would be the test ground for a new ride-hailing service that could allow customers to travel through the skies to work, home or a night out, thousands of feet above congested highways.

The tech company and its local partners have pushed ahead since then to make air taxis a reality. 

On Tuesday, the San Francisco-based company unveiled the latest prototype and design specifications for aircraft manufacturers that build the four-person flying taxis. The flying taxis — called electric vertical take-off and landing aircraft or eVTOLs — would be similar in size to helicopters, but quieter and more energy-efficient. They would be flown by a pilot, powered by an electric battery and available in dense urban areas.

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FC Dallas Considering Developing Land Next To Toyota Stadium

FC Dallas is looking at developing land next to Toyota Stadium in Frisco. The Dallas suburb is seeing significant real estate growth, and FC Dallas President Dan Hunt said, “We own probably around 30 acres of land.” That is part of the 145-acre site where the stadium was developed. Hunt said an initial focus for the land would be establishing a residential academy for young soccer players. 

Click to read more at www.sportsbusinessdaily.com

DFW office market cooling down

​​DALLAS (CBRE) – According to a CBRE report, the North Texas office market is cooling down.

The market saw negative absorption for the first time in 31 consecutive quarters for a rare loss of 470,212 sf. This kicked up the local vacancy rate to 20.5 percent.

Around 1.2 million sf of office space was delivered in first quarter 2018, and 4.9 million sf is still in the pipeline. The average asking rent fell to $24.25 per sf, a 1 percent drop since first quarter 2017.

Employment growth across the Metroplex remained at a steady 2.7 percent, stronger than the nation’s 1.6 percent growth. According to the Bureau of Labor Statistics, over 96,000 new jobs were created in DFW in the past 12 months. 

Click to read more at www.recenter.tamu.edu

Samsung moving 1,000 jobs to Legacy Central, Plano’s newest hot corner

International electronics giant Samsung is bringing 1,000 jobs to Plano in a consolidation of its North Texas operations.

Samsung will relocate workers now in Richardson’s Telecom Corridor and other locations to the Legacy Central project on U.S. Highway 75 and Legacy Drive. 

Samsung is moving to the former Texas Instruments campus, which is getting a $100 million makeover by Regent Properties, a Los Angeles-based developer and investor.

“We’ve signed a 216,000-square-foot lease with Samsung,” said Regent CEO Eric Fleiss. “They are taking an entire building on the north side of the campus.

Click to read more at dallasnews.com

Irving Music Factory to open 11 restaurants, six with a Fort Worth connection

In the coming days, Toyota Music Factory is set to open 11 restaurants, including six concepts from Big Beat Dallas.

Big Beat Dallas is the creation of someone known to many in Fort Worth: Billy Bob Barnett, the namesake and creator of Billy Bob’s Texas.

Along with the restaurants, Toyota Music Factory announced that Texas Lottery Plaza, an open-air central gathering space that includes a full-production performance stage for all types of live entertainment and community events, will open March 19.

Click to read more at www.fortworthbusines.com

What’ll happen with that big hole in Frisco if Wade Park project tanks?

With the future of Frisco’s $2 billion Wade Park up in the air, everyone wants to know: What happens now?

Not with just the mixed-use project, but with that huge hole in the ground they’ve dug along Dallas North Tollway.

Excavation stopped almost a year ago on the site of what was supposed to be a row of high-rise buildings along the east side of the tollway near Lebanon Road. With the developer defaulting on more than $130 million in debts, lenders for the 175-acre project are threatening to foreclose.

Click to read more at www.dallasnews.com