Construction in the Dallas-Fort Worth area surged in April. A huge year-over-year increase in nonresidential building starts added to the annual building totals, according to a new report from Dodge Data and Analytics. Nonresidential building starts in the region totaled more than $1.2 billion in April — more than twice the activity of April 2018. But residential starts fell from a year ago and totaled about $1.1 billion. Through the first four months of the year, nonresidential building starts in North Texas are up 13% from the same period last year. And residential starts are down 11%, according to Dodge Data. The jump in commercial building activity in the area erased losses in the sector in the early months of 2019. Click to read more at www.dallasnews.com.
With the recent announcement that the Dallas Cowboys are entering the co-working arena, we are now witnessing the emergence of a fascinating new real estate trend. The Cowboys are transcending traditional real estate investments in office space, retail, multifamily and, now, co-working, by leveraging the strength of its brand to become a commercial real estate juggernaut. It’s a fascinating study in brand loyalty, and it may hint at the future of our industry: buildings as brands. As an organization, the cowboys franchise is no stranger to wise real estate strategy. Establishing the franchise headquarters and the team’s official practice facility in a far north suburb may not seem like a play that would go on to become one of the nation’s most popular real estate developments. Click to read more at www.dmagazine.com.
The dream team behind the new PGA headquarters resort gathered in Frisco last night to give an update on the 600-acre development. The invite-only event featured three discussions moderated by Dave Marr III of SirusXM’s PGA Tour Radio. Among the featured speakers: PGA of America CEO Seth Waugh, golf course architects Gil Hanse and Beau Welling, World Golf Hall of Famer Lee Trevino (who was uproariously funny) and his mentor Bill Eschenbrenner, and Bob Rowling, chairman and CEO of TRT Holdings, which owns Omni Hotels. Click to read more at www.dmagazine.com.
The 72-story Bank of America Plaza is the second-tallest building in Texas and one of the five skyscrapers with the most floors west of the Mississippi. The 1.85 million-square-foot Main Street office tower outlined with miles of green lights has been owned since 1998 by Metropolis Investment Holdings, a Chicago-based real estate firm that manages assets for a German family investment group. Click to read more at www.dallasnews.com.
If you live in North Texas, you pretty much worship the Dallas Cowboys, and the team’s most famous quarterback, Roger Staubach. Starting next year, Cowboys fans can live right next door to their dream team’s 91-acre world headquarters and practice facility in Frisco, Texas, about 28 miles north of Dallas. Even better news: the $62.5 million project is being developed through a joint venture with Roger Staubach, one of the most famous players in football history, Cowboys current owner Jerry Jones, and former Cowboys center Robert Shaw, a Dallas-based developer. Click to read more at www.forbes.com.
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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