What Was The Good News For December?

Motorsport Aftermarket Group is relocating their corporate headquarters from Irvine, California to the Cypress Waters development in Irving. They are expected to employ roughly 150 workers, with an average annual wage of $70,000, in its new headquarters.  The company sells aftermarket parts for motorcycles — from mufflers to handle grips to sunscreens.

Dallas-Fort Worth’s strong housing market shows no signs of slowing with analysts expecting the region’s home sales to reach $24 billion by the end of the year. That would more than double the market’s sales volume in four years.  “We were ecstatic when the market reached $11 billion at the end of 2011,” said MetroTex President Steve Habgood, in a statement. “This year, we reached $22.7 billion by the end of November and could conceivably reach $24 billion for the year.”   North Texas’ condo sales have also done well this year and have already topped a billion dollars for the year, he added.  Not only is volume higher, prices are higher too.  Through the first 11 months of 2015, sales prices for preowned homes sold by real estate agents in North Texas are 11%  higher than where they were in November 2014, according to the Real Estate Center at Texas A&M University.  The price jump so far this year is more than twice the average annual price increase in the area during the last decade.

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Plano-based Green Brick Partners, Inc. acquired 52 acres in southern Flower Mound at Gerault Road and FM 2499 for the development of 450 home sites with a build out value of approximately $160 million. The planned townhomes and patio homes are part of the 110 acre master planned development called Southgate.  The first phase of residential development will begin in the spring of 2016, with model homes opening in early 2017.   The patio homes and townhomes will be built by Green Brick Partner’s subsidiary, CB JENI Homes. The homes are designed around 5 acres of parkland with walking trails connecting owners to the $1.5 million amenity center, complete with a pool, workout room, and entertaining areas.

 

There are 3 college football bowls to watch in the DFW area. The most anticipated of the three is the Cotton Bowl game played at AT & T Stadium in Arlington on Dec. 31st at 8:00pm.  2 Alabama will square off against No. 3 Michigan State and the game will be one of two semifinal games played, leading to the CFP title game. Each of the so-called Big 5 conferences, including the Irving-based Big 12 Conference, will receive an estimate $50 million, whether they have a team in the playoffs or not. Zaxby’s Heart of Dallas Bowl will have the University of Washington versus Southern Mississippi University at 1:20 p.m. Dec. 26 at the Cotton Bowl stadium at Fair Park in Dallas. Estimated payout for the Zaxby’s Heart of Dallas Bowl will be $1.1 million per team.  In Fort Worth, officials with the Lockheed Martin Armed Forces Bowl announced that the University of California will take on the Air Force Academy on 12/29/15.  The estimated payout for the Armed Forces Bowl will be $675,000 per team.

Dallas-based TopGolf is building its fourth North Texas location, expanding for the first time to Fort Worth. Topgolf has 22 locations worldwide, including in Dallas, Allen and The Colony. The 65,000-square-foot center is slated to open in late summer 2016. Located at the southeast corner of Highway 121 and I-35 near downtown Fort Worth, the new TopGolf will include102 hitting bays, up to 3,000 square feet of private event space and 230 high-definition TVs.

Frisco’s $5 Billion mile continues to develop.  From Warren Parkway to Lebanon Road along the Dallas North Tollway, the development along Frisco’s $5 Billion mile is rapidly changing the landscape.   In the span of just one mile, Frisco has $5.4 billion in projects under development. The Ford Center at The Star in Frisco — future home of the Dallas Cowboys World Headquarters — is the $1-billion, 91-acre mixed-use project that anchors this mile. Upon completion next summer, The Star will feature a 12,000-seat indoor stadium that will host high school football games for local schools, two hotels with 480 rooms, and an additional 66-acre, mixed-use entertainment district capable of supporting 1.7 million sq. ft. of commercial development.  Also under development along the $5-billion mile are the $1.7-billion Frisco Station mixed-use project; the $700-million Gate mixed-use and office complex; and the $2-billion Wade Park community that will include a Whole Foods Market, two hotels and 2.3 million sq. ft. of office space.

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