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Project to add towers in Preston Center receives council approval
A project aiming to redevelop part of the Preston Center in North Dallas will move forward after receiving city approval. <\p> Dallas-based Ramrock Real Estate LLC looks to build an office high-rise and multifamily tower with ground floor retail on the south half of a block bounded by Luther Lane, Westchester Drive, Berkshire Lane and Douglas Avenue. The development site is next to the Preston Center Pavilion, a retail center home to tenants including Target Corp, CVS and Office Depot. <\p>
Stockyards developers talk next steps of development
Craig Cavileer sees each building in the Fort Worth Stockyards as characters in a play: They can either win or lose an audience. He points to the area's Hotel Drover as an example. <\p> "Hotels, you know, can be a place to sleep, like a Residence Inn on the side of I-35, or can be a place that you really kind of take in the whole vibe of the place," he said. <\p>
Hundreds of homes planned on old ranch land north of Dallas
The nation's second-largest homebuilder, Lennar Corp., plans to build a 300-home community on 47 acres it recently purchased in Aubrey.<\p> The property, known as Loyd Ranch, is off FM 2931 and had been owned by the Loyd family for the better part of a century, according to Bryan Haggard Land Group, the firm that brokered the sale earlier this month. Josh Bryan, partner at Bryan Haggard Land Group worked with the family and the listing brokers at Coldwell Banker to seal the deal.<\p>
Kairoi Residential building multifamily mid-rise in Knox-Henderson
Kairoi Residential plans to build an eight-story residential tower north of Knox Street. <\p> The San Antonio-headquartered real estate firm demolished a two-story condominium toward the beginning of the second quarter of this year and will replace the complex with the 265,000-square-foot property. Located at 4839 N. Central Expressway, Highland Oaks will have 223 units and feature a work from home lounge, a yoga lawn, an elevated cocktail patio, a wellness studio and a rooftop pool. <\p>
Employment agency to move HQ to Richardson's downtown
A light industrial staffing and safety consulting firm that recruits talent for companies across various industries is set to move its corporate headquarters to Richardson, a northern suburb that straddles Dallas and Collin counties. <\p> Farmers Branch-based XL Pro Staffing and Consulting Group, which has eight offices across Dallas-Fort Worth and Houston, recently announced plans to move to a bigger space at 305 S. Central Expressway in Richardson’s downtown, south of Main Street. The location is also part of Richardson’s CORE district and is considered the city’s entertainment hub, bringing together various cultures, small businesses and ethnic cuisine. <\p>
Many managers are posting fake jobs. One reason may surprise you.
Employers are turning to fake job listings as a means of boosting staff morale in the current unsettled hiring market, but those ghost postings could have consequences. <\p> That’s according to a recent Resume Builder survey, which found 40% of 649 hiring managers surveyed have posted a fake job listing in the past year. Three in 10 responded they have an active fake-job posting. <\p>
Nation's largest outdoor mineral springs resort about to open
This story is available as part of a content partnership with WFAA-TV. For more of the latest local news, visit WFAA.com.<\p> A new, serene oasis coming to North Texas gives you the opportunity to travel the world without even needing a passport. Imagine soaking in Bali, The Blue Lagoon, Dead Sea, and more – all in one day.<\p>
Clash over control of REIT board intensifies
Leaders of an embattled North Texas-based real estate investment trust have fired back at alternative investment firm NexPoint, which aims to take control of the REIT's board.<\p> The REIT, United Development Fund IV, on June 24 issued a letter to the trust’s shareholders urging them to reject what it characterized as a "misguided and malicious" push by Dallas-based NexPoint to replace four of the fund’s five board trustees.<\p>
Big crowd welcomes new Metroplex H-E-B
A few months after launching its Alliance location, H-E-B has opened a second store in Tarrant County, signifying its push into the west side of the Metroplex.<\p> The grocery store opened June 26 at 1670 E. Broad St. in Mansfield, southeast of Fort Worth.<\p>
Upscale steakhouse snags Wolfgang Puck chef
Dee Lincoln Prime, a steakhouse at The Star in Frisco owned by famed restauranteur Dee Lincoln, has snagged chef Mario Roca to head up the kitchen.<\p> Roca joins the Frisco steakhouse as executive chef after opening world-renowned chef Wolfgang Puck’s III by Wolfgang Puck in Houston in 2019. Before that, he worked as an executive chef for Wolfgang Puck Catering for nine years.<\p>
$31M affordable housing complex coming to Oak Lawn
Oak Lawn Place, a nearly $31 million affordable housing development funded in part by a $750,000 Affordable Housing Grant facilitated by the Federal Home Loan Bank of Dallas, is set to begin serving the LGBTQIA+ community and adults over 55 in July.<\p> Veritex Community Bank provided the $750,000 grant through FHLB Dallas.<\p>
Run-down motel to see new life with $54M project
An independent hotel management company wants to transform a run-down former motel and used car shop in Arlington into a $54 million upscale hotel. The city is putting dollars down to help with the endeavor.<\p> Division Hotel Management LLC, through a partnership with Valencia Hotel Group, would demolish the former Caravan Motel at 908 E. Division St. and the Dollar Car Sales property at 900 E. Division St. and develop a 145-key independent hotel called Caravan Court on 2.6 acres of land.<\p>
$3B project set to transform part of downtown Dallas
Construction has officially begun on the nearly $3 billion redevelopment of the Kay Bailey Hutchison Convention Center.<\p> A groundbreaking was held June 26 for the project, which will expand exhibition halls in the center by 76,000 square feet, double its ballroom space to 170,000 square feet and nearly triple its meeting room space to 260,000 square feet. Work on the facility is anticipated to be completed in 2028, with opening slated for 2029.<\p>
Visa, Mastercard 'swipe' fee settlement dealt a big blow
A nearly $30 billion settlement involving U.S. retailers and credit card giants Visa Inc. and Mastercard Inc. has been dealt a blow after a judge said it was unlikely she would approve the deal.<\p> During a June 13 hearing on preliminary approval of the proposed settlement involving “swipe” fees, U.S. District Judge for the Eastern District of New York Margo Brodie said she was unlikely to sign off on the deal. Brodie issued a written order on the case on June 25, and while the order itself was sealed, the accompanying memorandum on the court docket stated that the "court finds that it is not likely to grant final approval to the Settlement and accordingly denies Plaintiffs' motion for preliminary settlement approval."<\p>
40 impressive DFW leaders you need to know
The Metroplex’s business future is in very good hands as shown by the accomplishments of this year’s class of 40 Under 40 honorees.<\p> These folks tackle tough issues such as affordable housing, back-end health care needs and providing digital access to all. They have built new businesses and revamped established companies.<\p>
‘Lock-in effect’ restricts homeowners despite inventory improvements
A U.S. housing market that continues to see home-price appreciation, paired with higher-for-longer mortgage rates, may prolong the lock-in effect that's stymied inventory the past couple of years.<\p> Many housing economists predicted 2024 would see more relief for homebuyers by way of greater inventory and households more willing to sell their homes after being tethered to record-low mortgage rates obtained during the Covid-19 pandemic.<\p>
Luxury apartments coming to fastest-growing US city
Work has begun on a 336-unit luxury apartment community in the fastest-growing city in the country.<\p> Dallas-based HighPark Capital LLC announced last week that it recently broke ground on the four-story apartment community in Celina called The Depot. It will be the residential portion of a bigger mixed-use development called Celina Station that plans to feature expansive restaurant, retail and medical office space.<\p>
Plan to supercharge Fort Worth Stockyards OK'd for incentives
The Fort Worth City Council on June 25 voted in favor of an incentives agreement that moves forward plans for a $630 million expansion of the historic Stockyards area.<\p> Fort Worth Heritage LLC — a collaboration between Majestic Realty Co. and Hickman Cos. and development partner M2G Ventures — plan to add about 300,000 square feet of commercial space to the Stockyards, which sees about 9 million visitors a year. Construction is expected to be completed by 2032.<\p>
Dunkin' distribution to get big boost in North Texas
National DCP LLC has started construction of a 79,296-square-foot distribution center in Burleson that will supply franchised locations of Dunkin' across North Texas and beyond.<\p> The Georgia-based supply chain management company said June 25 it broke ground on the $25 million distribution center, which is expected to be completed in the third quarter of 2025.<\p>
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