Fewer apartments may go up in ’16

A growing economy has kept Dallas-Fort Worth at the top of the nation’s apartment-building binge.

But a cooling down in local employment gains and several years of fast-paced construction mean fewer apartment groundbreakings next year, industry leaders say.

Labor constraints and fewer prime construction sites could also work to hold back apartment building in 2016.

Read more on the Dallas Morning News

Three Ways to Beat Rising Construction Costs

Gone (for the most part) are the days of designing a project, then finding a contractor and negotiating how to keep a project under budget. Today, the buzz phrase is integrated team approach. Callaway Architecture CEO Tony Callaway says it’s been the biggest change in the way construction is done. He’s a fan of design-build and getting contractors involved early in the design process. It minimizes change orders and helps keep those tight schedules (and budgets) on target. He says the best way to keep costs down is a three-fold approach by doing your homework early on the budget, scope, and quality of a project.

Read more on Bisnow.com

Austin’s hotel, construction industries pumping up job growth, studies show

Austin’s hospitality and tourism industry, as well as its construction sector, are among the fastest-growing of any counties in the United States, according to two reports from Headlight Data.

According to the report, Travis County saw 5.5 percent growth in the number of hotel accommodation jobs between 2013 and 2014. That’s the sixth-fastest growing hotel sector in the United States for counties with more than 1 million people.

Read More Here on the Austin Business Journal

Massive mixed-use underway on former Exxon Chemical site

Although speculative construction has all but halted since the slide in oil prices, one big-time development is betting big on the Energy Corridor.

Republic Square, a mixed-use complex on 35 acres off Interstate 10 that was formerly the site of Exxon Mobil Corp.’s (NYSE: XOM) chemical operations, will be breaking ground early next year, according to PMRG, which is developing and leasing the project.

Read More Here on the Houston Business Journal 

Another downtown Austin site to go vertical; office, shops and parking planned

Brandywine Realty Trust, a big East Coast real estate company, continues to nab market share in Austin and has a downtown development on the drawing board.

An office, parking and retail structure is in play at 405 Colorado St., just south of the Frank hot dog restaurant. The company has issued a request for proposals to engineering companies, according to sources. The site is one of the few remaining surface parking lots downtown.

Read More Here on the Austin Business Journal 

Liberty Mutual’s 2 towers a ‘statement’ piece for $2B Legacy West project

When Fehmi Karahan brought Dallas-based KDC into his $2 billion vision for Legacy West, he knew he’d picked the right partner to construct beautiful office buildings.

And that is one reason why Boston-based Liberty Mutual Insurance’s expansion into North Texas will become a statement piece at the southwest corner of the Dallas North Tollway and the Sam Rayburn Tollway in West Plano.

Read More Here on the Dallas Business Journal 

More retail, commercial planned for Sugar Land master-planned community

Retail is following rooftops in Riverstone.

Johnson Development Corp. is moving forward on plans for restaurants, shops, offices and perhaps a grocery store in the Sugar Land master-planned community, which ranked as the top-seller in Texas in 2014.

The Houston-based developer sold 9.6 acres of land in March to Riverstone Commercial Development LLC to develop into a mixed-use neighborhood center.

Read More Here on the Houston Business Journal

Scott Beck’s $3.5B Valley View redo is at the gate, ready to go

ts been about three years since Dallas developer Scott Beck, through his firmBeck Ventures, unveiled plans for a massive redevelopment of the 430-acre site surrounding the firm-owned mall, Valley View Center.

In that time, plans have evolved and costs have escalated as Beck refined his reimagined Valley View community. Now, Beck and city officials could nearly be ready start developing on those plans, which were funded with the help of a $250,000 grant from the city.

Read More Here on the Dallas Business Journal

Two Galleria-area condo towers under construction almost sold-out

Two luxury condominium towers under construction in the Galleria area are almost 100 percent fully sold.

Despite being months away from completion, the Astoria and Belfiore each have just one unit left until they are sold-out, according to their developers.

Astoria is a 28-story, 75-unit condo tower being developed by Houston-based Randall Davis Co. at 1405 Post Oak Boulevard, between San Felipe Street and the 610 West Loop.

Read More Here on the Houston Business Journal