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RECON for November 5, 2021RECON for November 5, 20212021-11-05T05:00:00Z2021-11-05T05:00:00Z
Housing markets give off clues signifying where they may be headed, so real estate professionals need to pay attention to them. Our latest Mixed-Use Blog post lists three indicators that are especially worth watching over the coming months. (Image from Center files.)
November 5, 2021

First homes delivering in Parmer Ranch master-planned community

GEORGETOWN (Austin Business Journal) – Owen Holdings has delivered over 150 lots to homebuilders in Parmer Ranch, a 454-acre master-planned community near Williams Dr. and Ronald Reagan Blvd. 

The 155-home first phase will be b​uilt by GFO Home LLC, Gehan Homes Ltd., Empire Communities LLC, and Sitterle Homes Ltd. 

The homebuilders have also purchased lots in the development’s second phase, which will be completed in four or five months. ​
Texas Employment Report
Read our latest Texas Employment Report for more. 

Methodist Healthcare breaking ground on Westover Hills hospital campus

SAN ANTONIO (San Antonio Business Journal) – Methodist Healthcare is building a hospital campus in the Westover Hills area. 

The campus will include a 180,000-sf a​cute-care hospital and 125,000-sf medical office building at the site. 

The $150 million, 54-bed hospital will house general surgery and neonatal intensive care, as well as emergency, maternity, cardiology. and gastroenterology care. 

Construction will be complete by 2023. 

The project will create 280 new jobs. 
The Texas Weekly Leading Index increased for a third straight week the week ending Oct. 16. The index points toward higher future economic activity as the economy continues to recover from the pandemic. The Delta variant appears to have reached its extreme point, as the numbers of COVID-19 cases and hospitalizations continue to fall after peaking at the end of August. This is easing some of the uncertainty surrounding the end of the pandemic and improving future economic expectations. Read more here.

610K-sf distribution center coming to Wilmer 

WILMER (Dallas Morning News) – Rosewood Property Co. is investing in a 610,000-sf industrial building at 601 Distr​ibution Dr.

Champion Partners is building the project.

Pross Design Group is the architect, and The Conlan Co. will be the general contractor.

Veritex Community Bank provided construction financing.

Stream Realty Partners will lease the building, which will open in third quarter 2022.​
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350-unit Lubbock multifamily portfolio trades hands

LUBBOCK (REBusiness Online) – A four-property multifamily portfolio totaling 350 units has been sold.

The properties includ​e:
  • Summertime Villa at 2706 Genoa Ave.,
  • Genoa Gardens at 2735 Genoa Ave., 
  • Genoa Gardens II at 2722 Frankford Ave., and 
  • Yorkshire Villas at 507 N. Essex Ave.
The Multifamily Group represented the seller and procured the buyer. 
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Pharr Logistics Center under new ownership

PHARR (REBusiness Online) – ​​A private equity fir​m has purchased Pharr Logistics Center, a 109,737-sf industrial building. 

Built on 7.7 acres in 1994, the project was fully leased at the time of sale.

Marcus & Millichap represented the seller and procured the buyer.​​
market viewer screen shotTexas Realtors' MarketViewer tool helps members and their clients quickly understand the market statistics in their area. This powerful tool is a member benefit available exclusively to Texas Realtors and local Realtor associations in Texas. Data are compiled and analyzed through a research agreement between Texas Realtors, the Texas Real Estate Research Center, and all MLSs across the state. 

49-story apartment tower slated for Rainey Street District

AUSTIN (REBusiness Online) – Lincoln Ventures is developing a 49-story apartment tower at 80 Rainey St. 

The 644-unit property will include a bar, lounge, pools, food and beverage concepts, and coworking spaces. 

Construction begins next summer and will be complete in summer 2025. 

JE Dunn is the general contractor, and Pappageorge Haymes Partners is the architect.

Work begins on 636K-sf distribution project west of downtown Dallas

​​DALLAS (Dallas Morning News) – Construction has kicked off on Turnpike North Logistics Center, a two-building industrial project on Singleton Blvd. at Weir St.

The 636,000-sf distribution complex is being built ​by a fund managed by a subsidiary of Ares Management Corp.

Talley Riggins Construction Group is the general contractor.

Completion is set for late 2022.
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Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

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