Just Listed for Sale…
Recent Updates Page 9 Toggle Comment Threads | Keyboard Shortcuts
-
Steve Young
-
Steve Young
Arlington Manufacturing…
Satellite communications startup to build Arlington manufacturing hub, bring 3,000 jobs
Satellite communications startup E-Space is moving ahead with its North American expansion, a project that could bring a minimum of 400 high-tech jobs with an average annual salary of $95,000 within its first five years of operation in Arlington.
The Arlington City Council will vote on a resolution at the April 23 meeting to authorize Marty Wieder, executive director of the Arlington Economic Develop Corp., to enter a public-private partnership with E-Space and the city of Arlington. That partnership will allow the company to build a headquarters and manufacturing plant at the Arlington Municipal Airport.
E-Space is a startup global telecommunications and satellite manufacturer founded in 2022 by satellite communications technology veteran Greg Wyler.
At full capacity, the project will create 3,355 jobs and provide over $8 billion in salaries and wages over the 30-year term lease, according to the city’s staff report.
By comparison, the Arlington General Motors plant employed over 5,000, paying $471.7 million in taxable wages last year.
Soon after the deal, the first phase of construction on the west side of the airport will begin, which will include a manufacturing and office facility of about 250,000 square feet, a 40,000-square-foot hangar, an airport access road and an aircraft parking apron.
The startup plans to establish a headquarters and develop a total of 750,000 square feet of manufacturing and office space, with about 2,000 jobs, over a 10-year period.
The economic development corporation will contribute up to $50 million from cash and/or proceeds from sales tax revenue bonds toward the project’s development and construction.
After construction is completed, the economic development corporation will lease the project back to the company for a term of 30 years with two renewal options with a base rent of $2 million per year of occupancy and a 3% increase every five years thereafter.
While executing the public-private partnership, E-Space will lease initial existing industrial space in Arlington within 90 days to begin building an employment base for research and manufacturing.
The company will occupy the industrial space as soon as design and construction begin for its manufacturing and office facility, the first phase of which is estimated to be completed by late 2026.
E-Space has about 95 employees in offices in Beverly, Massachusetts, and Saratoga, California, and is backed by Prime Movers Lab, a company that invests in scientific startups.
The city recently acquired the operations at Arlington Municipal Airport, a move expected to boost the airport’s economic impact. The city said it split costs with the Arlington Economic Development Corp., which contributed $9.5 million to the acquisition.
Texas has a high concentration of aviation, aerospace and defense-related manufacturers. According to the Texas Economic Development Corp., the state has 266 aerospace-related manufacturers that employ more than 48,000 workers, with an average salary of $108,420.
This is a developing story that will be updated. Please check back for the latest at ArlingtonReport.org.
Dang Le is a reporting fellow for the Fort Worth Report. Contact him at dang.le@fortworthreport.org or via Twitter.
Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org.
At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
This article first appeared on Arlington Report and is republished here under a Creative Commons license.
-
Steve Young
-
Steve Young
The Brazos Chamber Orchestra…
is excited to announce the 4th and final concert series for the 2023-2024 concert season. This has been a great concert season for the BCO with enthusiastic audiences. Thank you for making this possible. So, to end this season, the BCO gives you another of its eclectic programming. There is something for everyone!
Here are just a few of the titles that the BCO will be playing:
On a Hymnsong of Philip Bliss (It Is Well) arranged by David Holsinger;
Superman Returns, John Williams/John Ottman/arr. Victor Lopez;
The Sea Hawk, Erich Wolfgang Korngold/arr. Jerry Brubaker;
Closing the program will be the 1st movement of Symphony No. 4 in c minor D. 417, by Franz Schubert. Bring your family and friends and enjoy an evening of orchestra music played by the Brazos Chamber Orchestra. Free admission and donations are accepted.
Concert Dates:
Spring Orchestra Concert Series – April 2024
Sunday, April 21. The Center @ Pathway Church, Burleson
Monday, April 22 Granbury First United Methodist Church
Tuesday, April 23 Field Street Baptist Church Cleburne
SEE YOU THERE!!
-
Steve Young
Dallas-Fort Worth home sales down 7 percent in March
DALLAS (Dallas Morning News) – North Texas home sales decreased by 7 percent in March, with prices slightly higher than in 2023. Data show 8,020 homes were sold in the area last month. Following a nearly 9 percent decline in 2023, January saw a 12.5 percent sales increase, but February experienced a slight 1.1 percent drop. The median price for single-family homes in the Metroplex was $395,000 in March, up by 1.3 percent from March 2023. Housing affordability remains challenging due to rising mortgage rates and weakening employment growth, slowing existing home sales.
Several of the lenders I work with have programs to help offset some of these challenges. Please contact me so we can see if they will work for you and your situation!
-
Steve Young
‘Ongoing Potential For Expansion’ in Land Markets…
Land sales in 2023 rose nationwide by 1.2%, a return to balance after recent pandemic-era highs. That’s according to the latest Land Market Survey, published by REALTORS® Land Institute and NAR.
“Although this marks a slower pace compared to past performance, it highlights the market’s resilience and ongoing potential for expansion amidst challenging conditions,” the survey says.RLI and NAR shared their findings during a March webinar. The two organizations surveyed 4,600 RLI members and prospects in September 2023. There were 450 responses, of which 68% reported a land sale in the last 12 months. Here are some highlights:
Texas was a top market in 2023
Texas was home to 7.3% of land sales reported by survey respondents.Ranches led in Texas and Oklahoma
Ranches were 39% of 2023 land sales by REALTORS® in RLI’s Region 8.Regional land sales took a while
Texas and Oklahoma land included in the survey spent a median of 183 days on the market. “Land sales generally conclude within a 60-day period, while a notable 25% of these transactions are wrapped up in less than 30 days.”
Regional land sales inched down from 2022
Several Texas and Oklahoma land categories saw small year-over-year percent changes in 2023. Commercial land sales were down 3.6% and industrial land was down 3.3%. Meanwhile, developed land sales rose 1.8%.To read the report, visit rliland.com/Resources/Land-Market-Survey.
-
Steve Young
Southlake holds top spot in North Texas wealth ranking, but Arlington ZIP code surges
ARLINGTON (Dallas Business Journal) – According to a recent Dallas Business Journal study of top-earning ZIP codes in the Metroplex, Southlake was the region’s wealthiest neighborhood for the sixth consecutive year, while Colleyville ranked second.
However, an Arlington ZIP code has surpassed prestigious neighborhoods like Highland Park and University Park to claim the third spot. This marks the first time Arlington has achieved such recognition.
Arlington’s 76005 ZIP code is experiencing rapid development, primarily due to the establishment of Viridian, a 2,000-acre master-planned community that is driving much of the wealth in the area.
The median income required to live comfortably in that area is reported to be $191,250 or higher, based on the latest U.S. Census Bureau data.
-
Steve Young
-
Steve Young
Texas Lawn-Tree Service
I’ve been using their services for several years and they do an excellent job with pricing you will love! Steve Young with RE/MAX
-
Steve Young
Texas residential mortgage industry…
…welcomes upward trend for origination volume and values
COLLEGE STATION, Tex. (Texas Real Estate Research Center) – Optimism in the state’s residential mortgage industry is the strongest it has been in almost 18 months, according to the latest Texas Residential Mortgage Survey (TRMS). Respondents expect conditions to improve over the next two quarters.
“The mortgage survey revealed optimistic opinions regarding residential mortgage activity,” said Wes Miller, senior research associate at the Texas Real Estate Research Center at Texas A&M University (TRERC). “Although mortgage interest rates ticked back up in February, origination volume and values trended upward after sliding for most of 2023.”
The purchase-origination market drove the recent improvement, and there was a significant increase in the number of pre-approved customers looking for homes.
“Headwinds from 2023 remain sustained due to the continued high-interest rate environment, affordability struggles, and record-low housing inventory in most Texas markets,” said Texas Mortgage Bankers Association (TMBA) Vice President Jodie D. Morgan. “However, Texas is somewhat insulated from these challenges because our robust economy, lack of state income taxes, and no taxes on perishable goods help ease affordability issues compared to other regions.”
Mortgage bankers’ cautious optimism likely reflects measured improvement in key metrics:
- Growth in average hourly wages has outpaced the nation for the past eight months, providing additional purchasing power.
- The market for refinances has shown signs of stabilizing and is projected to expand through the first half of 2024.
- The number of existing homes sold through Texas Multiple Listing Services (MLS) increased year-over-year for the second straight month in February after 21 consecutive months of decline.
“Cautious optimism is emerging, and homebuilders’ positive outlook is on the rise. Plus, there was a modest increase in existing-home sales in January that provided a much-needed boost to mortgage pipelines,” Morgan said.
—30—
ABOUT THE SURVEY
The Texas Residential Mortgage Survey (TRMS) is a collaborative effort between the Texas Mortgage Bankers Association (TMBA) and TRERC to provide an analysis of conditions and changes in the residential mortgage industry. Designed as a monthly sentiment survey to gauge current conditions and expectations in and around the Texas residential mortgage industry, all TMBA members are invited to participate.ABOUT TRERC
The Texas Real Estate Research Center at Texas A&M University (TRERC) is the nation’s largest publicly funded organization devoted to real estate research. Founded by the state legislature in 1971 to meet the data and knowledge-sharing needs of many audiences, including the real estate industry, instructors, researchers, legislators, and the public, the Center creates public content, including digital and print documents, publications, and multiple-format videos, which are available at the Center’s website. Subscribe to TRERC news releases and other publications here.
Stevesellsdfw's Blog 
Reply