Airberlin, Germany’s second largest airline, has announced it will operate four weekly nonstop flights from DFW Airport to Dusseldorf, Germany, starting on May 6, 2016. The Airbus 330-200 jets with business and economy seating will fly on Monday, Wednesday, Friday and Sunday. Airberlin is the seventh airline to start service to a new foreign destination from DFW Airport in the last three years. Overall, Airberlin will offer 15 new weekly flights starting next spring to the United States from Dusseldorf and Berlin for a total of 58 weekly U.S. flights.
In what is being labeled the biggest home sale in Texas history, billionaire bank mogul Andrew Beal has closed on the 25-acre Tom Hicks’ estate in the prestigious Preston Hollow neighborhood in North Dallas.
The European-style, 27,092-square-foot mansion — also known as the Crespi estate — was listed on the market for $100 million, which is the highest price tag for a home in Dallas, ever. The terms of the all-cash sale were not disclosed.
Toyota, the world’s largest automaker, continues setting up its North American headquarters at the 100-acre site in Plano. The company previously has not had an official North American headquarters, although most of the top corporate executives have been based in Torrance, California. The company has asked all of its 4,000 employees in California, Kentucky and New York across various divisions to make the move, and based upon survey responses, it appears that approximately 75% of the employees plan to make the move. While a core group has already made a move to Texas, the majority of relocations are expected to begin in spring 2017, and to be completed by year end 2017.
Robert Kaplan, president and CEO of the Federal Reserve Bank of Dallas, spoke on Monday, January 11th at the North Texas Economic Forum. Kaplan pointed out the strength and resilience of the Texas economy, highlighting its diverse range of businesses with energy making up just 3% of Texas’ employment and 14% of its gross domestic product. Kaplan points to major labor moves into the state as further evidence that Texas should be able to avoid recession. In fact, Dallas-Fort Worth added 103,500 new jobs in the 12 months ending in August, which is about 49% of the jobs added to the Lone Star state, so DFW projections are healthy.
Developers have purchased land on the north side of Lake Lewisville for a large new home community.
Centurion American Development purchased the property located just south of U.S. Highway 380.
The $260 million Northlake Estates project will include building lots for 750 homes, walking trails and a community center. Construction is scheduled to start in the first quarter with the first homes available in 2017.
Just a few months ago, there was a ton of chatter about the prospects of Dallas getting a baseball stadium in downtown. Texas Monthly in December 2015 issue reports that the Texas Rangers’ lease at Globe Life Park is not up until 2024. And now, the Arlington City Council has approved “Texas Live” —a 100,000-square-foot entertainment district in Arlington that would be constructed just south of Globe Life Park. On December 15, the Arlington City Council unanimously approved the $200 million development that is set to include an entertainment area, retail shops, restaurants, a 300-room hotel, and a 35,000 square foot meeting and conference space. The city plans on throwing the project $50 million in gas revenue, as well as giving the hotel tax breaks that could add up to $50 million.