Dfw leads country in construction sector jobs
DFW: The rhythmic cadence of hammers and the buzz of saws in North Texas indicate that the region is at the forefront of construction job growth in the U.S. According to the Associated General Contractors of America, 19,700 construction jobs were added in the area between August 2022 and August 2023. While this news is positive, a challenge remains: there’s a demand for more construction workers, not only in this region but throughout the nation. The organization points out that construction job numbers surged in almost two-thirds of the nation’s major cities over the past year. While rising borrowing costs have impacted new residential and office construction in DFW, warehouse, commercial, and apartment construction remain robust. Meanwhile, the U.S. Bureau of Labor Statistics notes that during this period, North Texas saw an impressive total job increase of 154,800, second only to New York’s addition of 208,200 jobs.
KC: Kansas City is abuzz, but it’s not just about the latest gossip involving a football star and a celebrity. The real talk of the town revolves around rumors that Ray Washburne and his HP Village partners, renowned for their success with Highland Park Village, might acquire the iconic Country Club Plaza south of downtown KC. While no official word has been given, insiders expect the transaction to conclude by the end of the year. Many see a natural synergy between the two properties. The current plaza owners defaulted on a loan nearing $300 million to Nuveen, which also has ties to the HP Village partners. Adding to the intrigue, Washburne’s family connections tie back to Texas oil magnate H. L. Hunt. Clark Hunt, owner of the Kansas City Chiefs and son of the legendary Lamar Hunt, is also a descendant. Interestingly, the Spanish architectural style of the Country Club Plaza is believed to have influenced the design of Highland Park Village nearly a century ago. The Plaza, once a hotspot with premium dining and shopping options, has seen a decline, with its occupancy rate for its expansive one million square feet of space now around 83%. Speculation is rife that with HP Village partners’ involvement, the Plaza may once again house a Washburne-owned Mi Cocina restaurant, which had previously left the center.
DFW: In Justin, a town in Denton County, Hillwood Communities has ambitious plans for a massive project named Treeline. Spanning 800 acres on FM407, the development will feature 2,500 homes, retail spaces, parks, and even an elementary school in the Northwest Independent School District. The inaugural phase will offer varied lot sizes, accompanied by a community center boasting indoor and outdoor facilities including an event space, HOA offices, pickleball courts, a designated food truck area, a sprawling pool, and themed treehouse parks. Multiple builders have committed to the project, with the first homes slated for completion in the third quarter of 2025. This development is poised to substantially boost Justin’s current 5,000-strong population, expected to double within a decade.
DFW: D. R. Horton, the nation’s top home builder, has acquired two vast tracts southwest of Fort Worth from Walton Global, a property investment firm. The first parcel, a 150-acre plot west of Crowley, will be developed into a 1,000-home community named Longhorn Estates, with the first homes expected by the end of the following year. Adjacent to this, D. R. Horton has secured a nearly 1,800-acre site for a comprehensive mixed-use project, Rock Creek Ranch West. This year alone, D. R. Horton reported over 83,000 home closures in the first half.
DFW: JPI, the largest apartment builder in Dallas-Fort Worth, has a significant announcement: it has been acquired. Sumitomo Forestry Co., a Tokyo-based housing giant with significant DFW holdings and prior collaborations with JPI worth $200 million, is the new owner. Although the deal’s specifics remain undisclosed, sources from Japan estimate its value exceeds $200 million. JPI continues its robust growth, with over 4,000 units under construction in North Texas.
LA LA LAND: Fans of the television series Yellowstone might recognize actress Jen Landon, albeit sometimes struggling with her character Teeter’s unique accent. Landon has listed her Venice townhouse for $1.79 million. Acquired in 2010 for $975,000, the 1,900-square-foot residence offers two bedrooms and two baths. Despite its compact size compared to other LA properties, it boasts a tranquil setting, proximity to shopping and dining hubs, a white-themed interior, bamboo flooring, and spacious rooms. The cherry on top? A rooftop deck providing panoramic views. Those unfamiliar with Landon might remember her Emmy-winning role in As the World Turns, or recognize her as the offspring of the revered late actor Michael Landon, known for Bonanza and Highway to Heaven.