Alliance tops $50 billion in economic impactAlliance tops $50 billion in economic impacthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=55102013-12-12T15:52:00Z2013-12-11T00:00:00Z

FORT WORTH - Alliance development in far north Fort Worth this year will surpass $50 billion in total economic impact on North Texas since the project began in 1989.

The estimated economic impact for this year is projected at $3.7 billion, bringing the total to $50.6 billion, according to a Hillwood Properties report.

This year, 2013, has been one of the most successful years in the project’s history, with more than 5,000 jobs added and projects launched in all real estate asset classes, including industrial, office, residential and retail.

Opening this year were Flextronics, which makes the Motorola Moto X smartphone and has more than 2,000 workers, and online fulfillment centers for Amazon and Walmart.

In other developments, Hillwood partnered with HealthCap in Dallas for a senior living center at Alliance Town Center, started construction on a building for Carolina Beverage Group, and started construction on Hillwood Commons, a speculative multitenant three-story, 158,000-sf office building.

In other activity, HCA North Texas started a $71 million, three-story hospital, and a joint venture between Trammell Crow Co. and USAA Real Estate bought 45 acres at the northeast corner of Heritage Trace Pkwy. and I-35W, and has started building the Federal Aviation Administration’s new Southwest Region office.

Alliance added the 1,150-acre Harvest master-planned residential community in Northlake and Argyle this year. About 80 percent of the 65-square-mile Alliance is in Fort Worth.

Hillwood says the 18,000-acre development is about 50 percent completed. Projections show that Alliance will pay $121.2 million in property taxes this year. Since 1990, it has paid $1.3 billion in property taxes to four cities, two counties and two school districts.

Fort Worth Star-Telegram
Dallas-Fort Worth-Arlington
http://www.star-telegram.com/2013/12/10/5408651/alliance-says-it-has-topped-50.htmlRead more at {Source}

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