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Weekly initial jobless claims dip below 50,000Weekly initial jobless claims dip below 50,000https://www.recenter.tamu.edu/news/newstalk-texas/?Item=249532020-09-25T05:00:00Z2020-09-25T20:00:00Z

​​​​COLLEGE STATION – ​​​Weekly initial unemployment clams in Texas fell below 50,000 for the first time since the pandemic hit the economy. 

During the week ending Sept. 19, Texas'​​ initial unemployment claims decreased for the second straight week to 48,500 claims.

That brings the total since March 21 to 3.5 million, according to data from the U.S. Department of Labor (DOL).​

The number of Texans who continue to claim unemployment insurance decreased the week of Sept. 12 to 941,200.

"The fall in both unemployment numbers indicates improvements in labor conditions, but much work must still be done,​​​" said Real Estate Center Research Economist Dr. Luis Torres. 

Fewer people in Texas' major and border metros filed new unemployment claims during the week ending Sept. 12, matching the downward trend seen in the statewide numbers. 

Using data from the DOL and the Employment and Training Administration, the ​Center has estimated unemployment claims for Texas' major and border metros since March 21:​

  • Houston-The Woodlands-Sugar Land, 806,700 claims;

  • Dallas-Fort Worth-Arlington, 766,100 claims;

  • San Antonio-New Braunfels, 244,000 claims;

  • Austin-Round Rock, 207,900 claims;

  • McAllen-Edinburg-Mission, 94,300 claims;​

  • El Paso, 80,000 claims;

  • Brownsville-Harlingen, 41,600​​ claims; and

  • Laredo, 24,700 claims.

Retail trade, administrative/support/waste management/remediation services, construction, accommodation and food services, and healthcare and social assistance represented the sectors with the most unemployment claims.

Last week, new national unemployment claims increased to 870,300, bringing the 27-week total to nearly 62 million.

"This indicates that the labor market recovery is losing steam in other states," Torres said. 

Real Estate Center
Texas
Employment
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Housing community with national park feel coming to McKinneyHousing community with national park feel coming to McKinneyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249502020-09-25T05:00:00Z2020-09-25T15:00:00Z

​​​​​McKINNEY – ​​​​​​New York-based JEN Partners and Dallas-based Oxland Advisors are building almost 3,400 homes in their Painted Tree development. ​​

Phase one will include several hundred homes. Prices for the smallest townhouses will start at just under $300,000. 

Between three and five homebuilders are expected to build in the project.

The community will include 200 acres of greenbelt and parkland with 25 miles of trails and a 20-acre lake. There will also be a community swimming pool, play area, food truck area, and outpost amenity.

Construction will start in 2021, once zoning is approved. The first residents will move in by the end of 2022. 

JEN purchased the 1,100 acres on US 380 near Lake Forest Dr. earlier this month. ​​

Texas logoGet more DFW-area news on the Real Estate Center's website:

          ​​​​Source: Dallas Morning News

          Dallas Morning News
          Dallas-Fort Worth-Arlington
          Housing
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          Midland unemployment shows continued improvementMidland unemployment shows continued improvementhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249432020-09-25T05:00:00Z2020-09-25T14:00:00Z

          ​​MIDLAND – Local unemployment continued trending downward last month​​ as the pandemic and oil downturn began to ease.  

          The unemployment rate fell from 9.5 percent in July to 8.1 percent in August. However, the rate remains well above the 2.3 percent recorded last year​.

          The civilian labor force increased by 4,000 over the month to 106,263 people. However, that number is still 10,500 below last year's levels.

          Texas logoThe Real Estate Center has a wealth of economic information online for free.

          Midland Reporter-Telegram
          Midland
          Employment
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          Apartments to replace townhouse project in RichardsonApartments to replace townhouse project in Richardsonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249472020-09-25T05:00:00Z2020-09-25T14:00:00Z

          ​​​​RICHARDSON – NE Construction is building an apartment community on three acres on Spring Valley Rd. west of US 75.

          The urban-style rental community will have a five-story parking garage and a four-story building with 186 units. Apartments will range from 500 to 1,000 sf​

          It will replace a 60-year-old, 73-unit townhouse project.

          Arrive Architecture Group designed the community.

          Texas logoThe Real Estate Center​​​​ has more information like this online for free:

          ​Source: ​Dallas Morning News

          Dallas Morning News
          Dallas-Fort Worth-Arlington
          Multifamily
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          42-site manufactured housing property gets new owner42-site manufactured housing property gets new ownerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249482020-09-25T05:00:00Z2020-09-25T14:00:00Z

          ​​​HOUSTON – Coachlite Mobile Home Park, a 42-site manufactured hous​​ing community, h​as been sold.

          The 113,692 sf property is at 7114 Dixie​ Dr. 

          Marcus & Millichap arranged the sale. 

          texaslogo.pngThe Real Estate Center has more information on housing:​
          REBUSINESS
          Houston-The Woodlands-Sugar Land
          Housing
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          Seguin multifamily under new ownershipSeguin multifamily under new ownershiphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249422020-09-25T05:00:00Z2020-09-25T13:00:00Z

          ​SEGUIN – TFE 321 LLC has acquired 10Forty8 Modern Living, a 128-unit apartment community at 1048 Country Club Dr. 

          Built in 1973, the property has one- to three-bedroom units. Monthly rents range from $835 to $​1,125.

          Amenities include a pool, fitness center, outdoor grilling area, and laundry facilities. 

          Colliers Mortgage and Old Capital Lender arranged the Fannie Mae acquisition loan.​

          texaslogo.pngThe Real Estate Center has more news like this online for free:
          REBUSINESS
          San Antonio-New Braunfels
          Multifamily
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          North Texas assets sold as part of 30-property portfolioNorth Texas assets sold as part of 30-property portfoliohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249492020-09-24T05:00:00Z2020-09-24T15:00:00Z

          ​​​​DALLAS – PGIM Real Estate has partnered with Perlmutter Investment Co. to purchase ​a 30-building, 5.4 million-sf industrial portfolio for $700 million.​​​

          The portfolio includes three North Texas properties totaling almost one million sf. They are:

          • I-20 Logistics Center in Grand Prairie,

          • a building at 4721 Mountain Creek Pkwy. in Dallas, and 

          • an in​dustrial asset at 120 Intermodal Pkwy. in Haslet. 

          The sale also includes assets in Los Angeles, Chicago, Seattle, and Louisville, Ky. The properties are almost fully leased. 

          Texas logoThe Real Estate Center has more on DFW's industrial market:

          Dallas Morning News
          Dallas-Fort Worth-Arlington
          Industrial
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          Lone Star personal income grew in 2Q2020Lone Star personal income grew in 2Q2020https://www.recenter.tamu.edu/news/newstalk-texas/?Item=249512020-09-24T05:00:00Z2020-09-24T15:00:00Z

          ​​WASHINGTON – Texas personal income increased 34.1 percent at an annual rate in second quarter 2020, an acceleration from the 2.4 percent increase in ​​the first quarter, according to the U.S. Bureau of Economic Analysis. 

          Increases in personal curre​nt transfer receipts more than offset decreases in earnings and property income.​

          The increases in transfer receipts include new government relief payments provided by the Coronavirus Aid, Relief, and Economic Security Act. 

          Personal income grew in all U.S. states and the District of Columbia. Nationally, personal income grew 34.2 percent in 2Q2020, faster than the 4.1 percent increase the previous quarter.​​

          Texas logoThe Real Estate Center has more COVID-19 information online:

          Bureau of Economic Analysis
          Texas
          Economy
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          Texas will not receive HUP extensionTexas will not receive HUP extensionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249522020-09-24T05:00:00Z2020-09-24T15:00:00Z

          ​​AUSTIN – ​​With Texas’ unemployment rate falling to 6.8 percent, Texas will no longer have access to additional unemployment insurance benefits that would have kicked in after benefits under the Coronavirus Aid, Relief, and Economic Security (CARES) Act are exhausted. 

          Provisions under the CARES Act will continue until Dec. 26, 2020.

          The High Unemployment Period (HUP) is an extension for states with unemployment rates over 8 percent for over three months as determined by the U.S. Department of Labor. Texas became eligible for HUP benefits in June, but lost eligibility as the unemployment rate fell below that threshold in August.​​​

          For people currently receiving unemployment benefits, nothing changes.

          The Texas Workforce Commission (TWC) says this effects almost no Texans. ​Because extended benefits had not been exhausted, Texans were typically not receiving HUP. In special circumstances, some persons’ extended benefits may have been exhausted early, in which case HUP would apply.

          For traditional benefits recipients (up to 52 weeks), the following benefits timelines still apply: 

          • Regular unemployment – Up to 26 weeks.

          • Pandemic Emergency Unemployment Compensation – Up to 13 additional weeks.

          • Extended benefits – Up to 13 additional weeks.

          Workers not eligible for traditional benefits (self employed, gig workers, etc.) can still receive up to 39 weeks of Pandemic Unemployment Assistance.

          For more information on eligibility requirements, available benefits and questions about the unemployment process, visit the TWC's COVID-19 FAQ page.

          Texas logoThe Real Estate Center has a wealth of economic information online for free.

          Texas Workforce Commission
          Texas
          Employment
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          102-bed mental health facility opens in Temple 102-bed mental health facility opens in Temple https://www.recenter.tamu.edu/news/newstalk-texas/?Item=249442020-09-24T05:00:00Z2020-09-24T14:00:00Z

          ​TEMPLE – Canyon Creek Hospital, a 102-bed behavioral health facility at 1201 Canyon C​reek Dr., has opened. 

          The facility will provide inpatient and outpatient treatment as well as electroconvulsive therapy. 

          Texas logoGet more Killeen-area news on the Real Estate Center's website:

          ​Source: Temple Daily Telegram​

          Temple Daily Telegram
          Killeen-Temple
          Medical
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          ZOM sells McKinney apartment communityZOM sells McKinney apartment communityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249452020-09-24T05:00:00Z2020-09-24T14:00:00Z

          ​McKINNEY – ​Florida-based ZOM Living has sold Kinstead, a 376-unit apartment community at ​​5701 McKinney Pl. Dr. 

          The property has studio​ and one- and two-bedroom floor ​plans.

          Amenities include two pools, a 24-hr fitness center, outdoor grilling stations, game room, and pet park.

          Newmark Knight Frank represented the seller. The buyer was a fund sponsored by CBRE Global Investors. ​​

          Texas logoThe Real Estate Center​​​​ has more information like this online for free:

          ​Source: REBusiness Online

          REBUSINESS
          Dallas-Fort Worth-Arlington
          Multifamily
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          Business incubator to occupy former FiestaBusiness incubator to occupy former Fiestahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249462020-09-24T05:00:00Z2020-09-24T14:00:00Z

          HOUSTON – Somerville, Mass.-based Greentown Labs is moving into the former Fiesta grocery store at 4200 San Jacinto​​​ St. in Midtown.​

          The 42,000-sf building will be transformed into an incubator with a prototyping lab, office, and community space for up to 50 startup companies. Between 200 and 300 employees ​​will work there.

          Opening is set for spring 2021. 

          The project is part of an effort by a Rice University affiliate to create a 16-acre, tech-filled innovation district between downtown and the Texas Medical Center.

          Texas logoGet more Houston-area office news on the Real Estate Center's website:

          ​Source: Realty News Report

          Realty News Report
          Houston-The Woodlands-Sugar Land
          Office
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          Kairoi Residential reels in 312-unit Travis at the Lake Kairoi Residential reels in 312-unit Travis at the Lake https://www.recenter.tamu.edu/news/newstalk-texas/?Item=249412020-09-24T05:00:00Z2020-09-24T13:00:00Z

          ​​​AUSTIN – Kairoi Residential has purchased Travis at the Lake, a 312-unit luxury multifamily community at 2208 N. FM 620. 

          Built in 2018, the property has one- to three-bedroom units. Rents range from $1,068 to $2,871 per month. 

          Amenities include a pool, dog park, clubhouse, cafe, and game lounge. 

          Newmark Knight Frank represented Kairoi in the transaction. 

          texaslogo.pngThe Real Estate Center has more news like this online for free:
          Connect Media
          Austin-Round Rock
          Multifamily
          Read more at {Source}
          Safespill leases 55K sf in HoustonSafespill leases 55K sf in Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249392020-09-23T05:00:00Z2020-09-23T20:00:00Z

          ​​​HOUSTON – Safespill has signed a ​​full-building, 54,869-sf industrial lease at 1900 Crosspoint Ave.

          Built in 1981, the facility consists​​ of 46,393 sf of warehouse space and 8,476 sf of office space. 

          Transwestern represented the tenant. The landlord​, Evtex Cos., was self-represented.​​

          Texas logoGet more Houston-area industrial news on the Real Estate Center's website:

          ​Source: REBusiness Online

          REBUSINESS
          Houston-The Woodlands-Sugar Land
          Industrial
          Read more at {Source}
          Magnolia land becoming suburban, exurban housingMagnolia land becoming suburban, exurban housinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249402020-09-23T05:00:00Z2020-09-23T20:00:00Z

          ​​​​MAGNOLIA – ​​​​Magnolia JV has acquired 872 acres in Montgomery County for a single-fam​ily residential development.

          The tract is along the west side of FM 149, north of FM 1488.​

          The seller was represented by Land Advisors Org.​​

          texaslogo.pngThe Real Estate Center has more information on housing:​
          Realty News Report
          Houston-The Woodlands-Sugar Land
          Housing
          Read more at {Source}
          San Patricio County apartments soldSan Patricio County apartments soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249352020-09-23T05:00:00Z2020-09-23T19:00:00Z

          ​​​​​PORTLAND – Northshore Place Apartments, a 224-unit multifamily community ​at 177 Northshore Blvd., has been sold.

          Built in 2019, the property has one- and two-bedroom units. Rents range fro​m $1,241 to $1,473 per month. 

          Amenities include a clubhouse, pool, and outdoor fire pits. 

          Institutional Property Advisors represented the seller and procured the buyer. 

          Texas logoIf you're looking for more news like this, head to the Center's website.

          REBUSINESS
          Corpus Christi
          Multifamily
          Read more at {Source}
          IGX, 18 Squared partner on two warehousesIGX, 18 Squared partner on two warehouseshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249362020-09-23T05:00:00Z2020-09-23T19:00:00Z

          ​​​SAN ANTONIO – A partnership between Industrial Group Southwest and 18 Squared GP is developing two industrial warehouse projects.

          Ball Street 3 at 9710 ​Ball St. will have suites ranging from 3,300 to 6,000 sf. 

          The 150,000-sf South Park 2 will be at 7030 Old Pearsall Rd.

          Texas logoThe Real Estate Center has more on San Antonio's office market:

          Source: Connect Media
          Connect Media
          San Antonio-New Braunfels
          Industrial
          Read more at {Source}
          250K-sf expansion slated for H-E-B distribution center 250K-sf expansion slated for H-E-B distribution center https://www.recenter.tamu.edu/news/newstalk-texas/?Item=249372020-09-23T05:00:00Z2020-09-23T19:00:00Z

          ​​​​​​​​​TEMPLE – H-E-B is expanding its distribution center at 4750 Wendland Rd. 

          The expansion will add 250,000 sf, bringing the property to over one million sf. 

          Construction will begin by the end of the year and wrap up in 2021. 

          Texas logoThe Real Estate Center has more news like this:

          Temple Daily Telegram
          Killeen-Temple
          Industrial
          Read more at {Source}
          Greystar picks up 528-unit Regency Park Apartments Greystar picks up 528-unit Regency Park Apartments https://www.recenter.tamu.edu/news/newstalk-texas/?Item=249382020-09-23T05:00:00Z2020-09-23T19:00:00Z

          ​​​​​AUSTIN – Greystar has purchased Regency Park Apartments, a 528-unit apartment community at 401 Little Texas Ln. 

          Built in 2002, the pr​operty has one- to three-bedroom units. 

          Amenities include a fitness center, business center, dog park, volleyball court, clubhouse, and two pools. 

          Newmark Knight Frank arranged the sale. ​​

          texaslogo.pngThe Real Estate Center has more news like this online for free:
          REBUSINESS
          Austin-Round Rock
          Multifamily
          Read more at {Source}
          Work continues on Dallas luxury condo projectWork continues on Dallas luxury condo projecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249322020-09-22T05:00:00Z2020-09-22T15:00:00Z

          ​​​DALLAS – Provident Realty Advisors has started on the next phase of its Signature Collection residential community on Walnut Hill Ln. just west of US 75.

          Phase three includes a 21-unit condominium building called City Homes. The two- and three-bedroom condos will range from 2,199 to 2,629 sf. Prices start at $1.2 million.

          SHM Architects designed the single-level condos. Rosewood Preston Hollow and StudioOutside are also partners on the project.

          The first two phases include high-end houses.

          The 15-acre, 75-home development is part of Provident's Preston Hollow Village mixed-use project, which includes residential, office, and retail​​ components.

          Texas logoThe Real Estate Center​​​​ has more information like this online for free:

          ​Source: Dallas Morning News

          Dallas Morning News
          Dallas-Fort Worth-Arlington
          Multifamily
          Read more at {Source}

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