According to a report from multinational firm Ernst & Young, U.S. capital investment rose $16 billion from 2014. The state of Texas recorded $48.3 billion in business financing, which ranked first in the country, while Gulf Coast states who are traditional leaders in the energy industry attracted the most investors for the fifth year in a row. Marcus Hiles notes that forty percent of those funds were lent to chemical manufacturing facilities, of which seventy percent were new, liquefied natural gas export compounds. The Lone Star State also outperformed others in the financial, technology, and professional service fields with 38,400 mobile project jobs, the greatest number in the nation.
The redefinition of the suburbs is a recent phenomenon that Marcus Hiles attributes to the influx of new real estate opportunities in urban settings. After WWII, people moved to the outskirts of the city where sprawling houses and yards with white picket fences showed a new American dream. These neighbourhoods, however, rarely had amenities or diversity, instead opting for row upon row of cookie cutter houses. The types of communities that are blooming now are much more diverse. Companies like Western Rim Property Services are developing residential areas outside of major urban centers that come equipped with shops and services, parks and recreation. As well, apartment buildings and multi-family options are high in demand and becoming an integral part of the new suburbs, allowing people to find homes that fit their unique wants and needs.
For prior generations, suburban communities built on manufacturing, education and other services were the centerpiece of the American Dream. Nowadays, many towns are changing rapidly to accommodate a strengthening consumer market with modern living and spending habits. Population growth rates in suburbs outside of Dallas, Austin, Charlotte, Atlanta, San Antonio, Houston, Denver, Nashville and Portland are now exceeding their urban counterparts via new, transit oriented communities. The Urban Land Institute reported in December their findings: “contrary to popular perception and most media attention, three-quarters of 25 to 34 year olds in the 50 largest metro areas live in the suburbs.” Marcus Hiles welcomes Millenials’ preference to continue to rent as they leave the city with is luxury rental options, and notes that across the country, upscale apartments are being constructed at an astonishing rate, converting former manufacturing sites and undeveloped areas into upscale living spaces flush with amenities.
Marcus Hiles notes that there has been discussion throughout the property industry about the affect President-elect Donald Trump will have on real estate policies when he enters office. Many in the industry are excited about having a businessman in the Oval Office, seeing this as an opportunity to reduce many business regulations. Even with his long-time background in real estate, the President-elect has been mostly reserved about what his goals in this area will be. Noted in a Forbes article written by Lawrence Yun, the Chief Economist of National Association of REALTORS, one of Trump’s primary impacts on the property industry could be updates to the Dodd-Frank act. “A clear positive would be the lifting of compliance costs imposed on small-sized banks. Around 10,000 local and community banks have traditionally been the source of funding for construction and land development loans. With less regulatory burden, these small banks can make more loans and will boost home building activity – something that is needed in the current housing situation.”
Increased growth necessitates increased sustainability efforts, environmental stewardship, and prioritization of a healthy lifestyle. Marcus Hiles, one of the prominent residential developers in the Dallas area, is honored to have the opportunity to donate land for community parks and provide the much-needed property for natural recreation spaces. Trees, plants, and wildlife are essential for a happy life, allowing families, couples and individuals a place for recreation and relaxation. These areas thrive when people take initiative, such as Hiles, and remain devoted to environmentally friendly priorities.