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Texas, DFW Top Rankings for New Corporate Projects

DFW: Texas has easily defended its top ranking in new corporate facilities and Dallas-Fort Worth is near the top spot among the metro areas. For the 11th consecutive year, Site Selection magazine's Conway Projects Database has awarded the Lone Star State its Governors Cup for total projects. Site Selection tracks individual state proiects that meet a minimum investment of $1 million, the creation of 20 or more new jobs or at least 20,000 square feet of new construction. Texas had 1,028 such projects in 2022, easily outdistancing second-place Illinois, which had 487. Site Selection also notes that Texas' economy tops Canada, South Korea and Australia and Texas has welcomed 271 corporate headquarter relocations since 2015. As for North Texas, the region's 426 projects ranked second behind Chicago's 448. Numerous projects were cited by the magazine, including the $5
billion GlobalWafers plant near Sherman.

DFW: And speaking of Sherman, Centurion American has just purchased 680 acres about eight miles south of the city for a new community to be called Cottonwood. The land is part of a larger planned community in Dorchester that totals more than 1.400 acres. Centurion American plans to acquire the remaining acreage as it continues to develop the mixed-use community that eventually will include 4,000 single-family sites, 1,400 rental units and more than 250,000 square feet of office and retail space. The Cottonwood development is located on FM 902 in proximity to the semiconductor plants being built by GlobalWafers and Texas Instruments and which will employ upwards of 5,000 people. In the past 30 years, Centurion American
has developed more than 100.000 single-family lots throughout the DFW area.

DFW: Ray Washburne is adding to his downtown collection. Through Charter Holdings, Washburne now owns the Founders Square building near the Dallas convention center. The seven-story, 275,000-square-foot building on Griffin Street was built in 1915, has served as office space for nearly 40 years and is 75% leased. Washburne bought the building from Fidelity Commercial, based in Taiwan. He plans to renovate and update the building. Charter Holdings also owns the building and property that once served as the home for The Dallas Morning News. He had planned a mixed-use development for the eight-acre property but is holding off until plans for a new convention center are unveiled. Charter Holdings also owns Highland Park Village, Waters
Creek in Allen and a restaurant group that includes Mi Cocina

DFW: An Alabama investor is betting big on Cowtown. LIV Development is planning a new multifamily development south of downtown Fort Worth in the Shaw Clarke neighborhood. The development calls for 357 units in a new $65 million community to be called Livano Victory Forest. LIV Development plans to break ground on the project later this area on the site on Hemphill Street between Texas Christian University and Interstate 35W. The community would be ready sometime in 2025. LIV Development also has Livano at Bluewood, a 272-unit, $34 million project in Celina. Although some industry analysts believe that apartment construction will slow down this year, North Texas continues to lead other states in apartment construction,
with upwards of 65,000 units in development at the beginning of 2023, up 70% from the same period in 2019.

LA LA LAND: Actor Michael B. Jordan has a new movie out and he wants out of the LA- area home he bought just last year. The "Creed III' series star has listed his eight-bedroom, 12.000-sguare-foot home in the exclusive Roval Estates neighborhood in Encino for $12.9 million. He actually paid $12.51 million for the property last year and spent a half-million dollars on renovations, mostly to the security and climate control systems. The mansion includes a home theater, of course, and a concession stand, a wine room and elevator and a primary suite with two oversized closets. A two-story guesthouse, a pool and an outdoor kitchen along with a cabana and fireplace also sit on the half-acre property. Although he may be lucky to break even on the sale of his estate, Jordan, who recently received a star on the Hollywood Walk of Fame, could receive a big payout for his role as Adonis in
Creed III because of the profit-sharing deal he negotiated. Creed Ill opens in theaters on March 3.

Christine McKenny
Allie Beth Allman & Associates
A Berkshire Hathaway Affiliate
Over $58 Million SOLD 2022
#1 Cumulative for CLOSED VOLUME in 
Park Cities and Preston Hollow YTD
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