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Archives: June 2021

Flipped: home flippers not benefiting from housing market boom

​​IRVINE, Calif. – On average, house flippers have not been profiting from the housing market boom. According to ATTOM Data, average profits on house flipping fell from $71,000 in fourth quarter 2020 to $63,500 in first quarter 2021.  The overall return ​on investment was 37.8 percent, making it the metric’s lowest point since 2011. Only 2.7 percent […]

Springwoods Village rebrands, gets addition

​​​SPRING – Springwoods Village, a 2,000-acre master-planned community south of The Woodlands, is rebranding to City Place and adding thousands of residential units.  The first phase of the addition will include about 600 medium-density residential units.  Work starts next year with model homes and a sales center opening in 2023.  New York-based CDC Houston developed the master-planned […]

Partnership acquires 1,100-acre ranch near tollway extension

​​​GUNTER – A partnership between Sanjay Singhania and GK Nanban Group has acquired the 1,100-acre Kalachandji’s Ranch in Grayson County. The purchase is along the future right-of-way of the Dallas North Tollway. Construction is underway on service roads for the tollway, which will extend north of US 380​ to Celina and eventually Gunter. Homebuilders are scouting […]

Hertz Investment Group pics up 422-unit multifamily portfolio

​​AUSTIN – California-based Hertz Investment Group has acquired a three-property multifamily portfolio totaling 422 units. The assets include the: 132-unit Amor Apartments at 1200 Mearns Meadow Blvd., 130-unit Feliz at 1804 W. Rundbergy Ln., and  160-unit Vida Apartments at 1735 Rutland Dr.  All assets were built in the 1980s and renamed under the Ascent brand. The unit mix includes 52 studio, […]

Hillwood planning 2M-sf warehouse project in Cedar Hill

​​​CEDAR HILL – Work is underway on High Point 67 Logistics Center, Hillwood’s two million-sf, four-building industrial project. Phase one will include two speculative warehouses along S. US 67, one measuring 1.08 million sf and the other 220,000 sf. Construction begins in August and will wrap up by summer 2022. The buildings were designed by GSR Andrade Architects. CBRE is handling leasing.  The Texas Real […]

Texas labor market recovery loses steam

​​​​​​​​​COLLEGE STATION – Texas’ labor market recovery stalled in mid-June. Initial unemployment claims increased for two straight weeks to 21,400 claims the week ending June 19.  ​​​About 5.22 ​​million unemployment claims have​​​ been filed since​ March 21, 2020, according ​to U.S. Department​ of Labor (DOL) data.  Continuing unemployment claims decreased ​to​ 187,900 the week ending June 12 and are getting closer to pre-pandemic levels. “​Women in […]

Texas real GDP up in 1Q2021

​​​​​​​​​WASHINGTON – Texas’ real gross domestic product (GDP) increased 4.3 percent at an annual rate in first quarter 2021, according to the Bureau of Economic Analysis. ​Durable goods manufact​uring; administrative and support and waste management and remediation services; and professional, scientific, and technical services were the leading contributors to the increase in GDP. In the first quarter, Texas’ GDP represented […]

Gone to Texas: Californian companies choose Lone Star State

​​​​McKINNEY – According to Spectrum Location Services, California lost 23 corporate headquarters to Texas from Jan. 1 to June 23. Of the 53 headquarters moved out of the Golden State, 43.4 percent of them came to the Lone Star State.​ Since the beginning of 2018, 107 companies relocated their headquarters from California to Texas, with Dallas-Fort Worth and Austin as top destinations.  […]