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New timeline unveiled for major Fort Worth redevelopment
This story is available as part of a content partnership with WFAA-TV. For more of the latest local news, visit WFAA.com.<\p> Fort Worth officials now expect to complete by 2030 a series of transformative renovations to the city's aging convention center.<\p>
Prominent project in Arlington Entertainment District passes milestone
Executives at the Texas Rangers and The Cordish Cos. and Arlington officials watched June 10 as a crane lifted and placed a construction beam painted like a baseball into what will soon be the first apartment complex in Arlington's Entertainment District, home to the Dallas Cowboys and Texas Rangers.<\p> The topping off ceremony marked a major milestone in the construction of the 300-unit luxury apartment called One Rangers Way, signaling completion of the building's underlying structure.<\p>
LA-based private equity expands to Dallas
A Los Angeles-based private equity firm that recently surpassed $2 billion in assets under management has expanded to Dallas.<\p> Vance Street Capital LLC opened its second office at the Douglas, located at 8325 Douglas Ave. in Preston Center, according to a June 10 announcement.<\p>
The National Observer: Here's where the money lives
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today,y we've got stories on the rising number of towns in which the median home costs more than $1 million; the interest office tenants are taking in their landlords' financial situation; and plans for a multibillion-dollar supercomputer complex by Elon Musk. But first, here's our inaugural list of the ZIP codes with the greatest concentrations of wealth in the U.S.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Lower Greenville bakery and fine dining restaurant shutters
This story is available as part of a content partnership with WFAA-TV. For more of the latest local news, visit WFAA.com.<\p> Carte Blanche, an award-winning fine dining restaurant and bakery on Lower Greenville, has closed, according to an Instagram post from its owners.<\p>
Work may begin on Indian ice cream shop in Plano this summer
An Indian ice cream shop is likely expanding its reach in North Texas, with a second store planned in Plano for the end of this year, according to a filing with the state. <\p> Dumont Creamery and Cafe opened its first location in the United States in Frisco, on the border of Little Elm, toward the end of 2023. Opening day for the chain's debut U.S. store drew a line of people out the door, with several customers recognizing the ice cream brand from India, franchise owner Sai Sashank previously told the Dallas Business Journal. <\p>
Construction kicks off on large data center south of Dallas
Skybox Datacenters LLC has started construction on the first piece of its massive 1-million-square-foot data center campus in Lancaster. <\p> The Dallas-based company confirmed it began work on the first building in its PowerCampus Dallas site at the beginning of the month. Work on the 270,900-square-foot facility is estimated to cost about $85 million, according to planning documents filed with the state, and delivery is anticipated in early 2026. Corgan Associates will serve as the design firm. <\p>
700-home community to rise in Collin County city
A sprawling master-planned neighborhood with 700 home lots is in store for Anna, joining a slew of other residential developments planned for the fast-growing community. <\p> Coyote Meadows, from Atlanta-based homebuilder Ashton Woods and its sister brand Starlight Homes, will feature both townhomes and single-family residences. Construction began in February, and the first residents of the new community are expected to move in this summer, a representative from Ashton Woods said. <\p>
Big deadlines loom for Realtors commission lawsuits
The class-action lawsuits that rocked the residential real estate industry over the last year are barreling toward a possible conclusion — and some big changes in the remainder of 2024. <\p> One of the most important deadlines is Aug. 17, 2024, when the NAR has said it would implement a series of changes as part of its own $418 million settlement agreement over buyer commissions. <\p>
Gen Z cites housing affordability as its top election issue
In the wake of rapid home-price appreciation during the Covid-19 pandemic, housing is playing a bigger role in how Americans vote — among one demographic in particular.<\p> Ninety-one percent of adult Gen Zers said in a recent Redfin Corp. (Nasdaq: RDFN) survey housing affordability is important when considering whom they will vote for in the presidential election this November. Among a list of nine broad political topics, the subject ranked No. 1 for that generation — ranking even higher than the strength of the overall economy, which was the top priority for millennials, Gen Xers and baby boomers. Housing affordability for Gen Z respondents also outranked issues of education, gun rights and abortion rights.<\p>
More development headed to 5,200-acre mega-site
PMB Capital Investments LLC, the firm behind 5,200 acres of development in west Fort Worth, continues to plan residential expansion. The newest development includes a 180-home built-to-rent community called Canopy Homes at Ventana, right next to its 492-acre master-planned community called Ventana.<\p> About 100 homes are under construction in the estimated $65 million build-to-rent community and are expected to be finished in July, said Taylor Baird, partner at Dallas-based PMB. He sees a need for the mix of rentals and for-sale homes in Ventana, which has 1,300 houses so far.<\p>
Artsy Plano movie house goes dark after 20 years
This story is available as part of a content partnership with WFAA-TV. For more of the latest local news, visit WFAA.com.<\p> The Angelika Film Center in Plano has closed after 20 years, the arthouse theater chain announced June 6 on Facebook.<\p>
H-E-B's latest DFW store sets opening date
The ever-popular H-E-B grocery store chain is opening its latest location as it expands on the western portion of the Dallas-Fort Worth metro. The company announced the store will open at 6 a.m. June 26 on 1670 E. Broad St. in Mansfield. <\p> H-E-B LP, based in San Antonio, announced the 23-acre Mansfield location in 2022. The city of Mansfield is giving the company a grant of $750,000 in sales tax money in exchange for building the 80,000-square-foot location, according to a 2022 Chapter 380 agreement accessed by the Texas Comptroller's office. <\p>
UNT Dallas provost to step down
The University of North Texas at Dallas Provost Betty Stewart is stepping down from her position as the school's top academic officer.<\p> Stewart accepted an opportunity to lead Hampton University, a private historically Black institution in Virginia, as its next executive vice president and provost, the university announced online May 2. She will begin the new role on July 1.<\p>
How to get piece of multibillion-dollar convention center redo
The project team behind the first component of the nearly $3 billion rebuild of the Kay Bailey Hutchison Convention Center is seeking design and engineering services.<\p> The request for qualifications from architectural and engineering designs firms opened May 20 and will close June 14. The first component of the convention center redevelopment involves expanding the convention space and integrating technology for enhanced event hosting. Dallas City Council in September awarded the project management services contract for the component to Inspire Dallas LLC, an entity tied to real estate development firm Matthews Southwest.<\p>
Alamo Drafthouse hopes to reopen in North Texas
Leaders at the Austin corporate office of Alamo Drafthouse hope to reopen the North Texas locations of the movie theater chain that have closed because a franchisee filed for bankruptcy.<\p> Alamo Drafthouse Cinema LLC said in a June 6 statement that it was "working as quickly as possible" to get the five theaters in the Dallas-Fort Worth metro and one in Minnesota "back up and running."<\p>
Shipping company moves distribution center to Irving
DHL eCommerce, a division of German logistics company DHL Group, is relocating its North Texas distribution center to a bigger facility in Irving. <\p> The company announced the move from its location in Grand Prairie to a 220,000-square-foot facility at 5320 West Airport Fwy on June 6. The new center is more than double the size of the organization’s previous space and features 46 loading dock doors, 11 office spaces and two drive-in ramps. <\p>
Nonprofit buys Fort Worth retirement community for $81M
A Dallas-based nonprofit senior living provider acquired a retirement community near the popular West Seventh District in Fort Worth. <\p> Buckner Retirement Services bought The Stayton at Museum Way from Lifespace Communities Inc. for $81 million. The 11-story building features 188 units and 42 assisted living units, 20 memory care units and 46 nursing units. Lifespace filed for Chapter 11 bankruptcy in 2019. <\p>
Why fear is a powerful motivator for bank CEOs
When Rob Holmes became CEO of Texas Capital Bank in 2021, he sketched out a clear goal: transform the Dallas-based company into more of a full-service financial institution.<\p> Fast forward three years, he has accomplished milestones including the establishment of an investment bank, expansion of treasury and wealth services and the launch of a broker-dealer business.<\p>
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