Environmental advocacy is key to the fundamentals of famous Texas property developer Marcus Hiles.“Making neighborhoods that perform in harmony with the ecosystem and lower carbon impact is truly my commitment,” he notes. Hiles, who is Chairman and CEO of Western Rim Property Services, has translated his viewpoint into activity in around 15,000 upscale rental townhomes and apartments in the Lone Star State. An important part of his eco-friendly building methods is installing devices labeled by the the U.S. Environmental Protection Agency as ENERGY STAR. Since the program’s introduction in 1992, Americans’ ENERGY STAR usage has lowered carbon emissions by 283.2 million metric tons. With the typical Texan spending $1,650 annually in electrical bills and another $400 annually for natural gas, power efficient devices mean savings as high as 50 percent.
Like everything in Texas, even the market for sophisticated living is bigger. Marcus Hiles, Chairman and CEO of Western Rim Property Services, remarks that almost all properties in Texas are luxurious allowing renters opportunities to live an upscale lifestyle.
“A growing number of singles, families, empty nesters, and retirees are finding satisfaction through renting,” he states. “Across the U.S. the number of tenants is expected to grow by a half million each year through 2023.”
There is a definite question on why renting is preferred over owning. Hiles states that, in Texas and across the country, people look forward to the flexibility a rental accommodation permits. “We’re a mobile population,” he suggests. “The idea of settling in one place for a decade – or for the length of a 30-year mortgage – doesn’t hold the same attractiveness as it did a generation or two ago.” Demystifying the myth that owners have an advantage when it comes to personal happiness, Hiles points to research that highlights that renters enjoy more happiness. “People who rent actually spend more time engaging in recreational activities and interacting with their friends and neighbors,” he adds.
Property developer and CEO of Western Rim Property Services and Newport Classic Homes, Marcus Hiles has donated 200 new Dell computers to inner city children in Texas, continuing a lifelong dedication to providing critical help to less fortunate individuals and communities. Hiles’ generous gift, valued at over $100,000, will be used to help young inner city students enhance their education, pursue future goals, and remain focused on personal growth.
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.
The amount of people choosing to rent a home in the United States is rapidly growing, at a pace of more than 500,000 each year with no signs of a turnaround. Prominent Texas real estate developer Marcus Hiles anticipated this increased demand, and has catered his Estates brand to deliver premium properties to renters in the Lone Star State. “Renters are eager to embrace luxury living at affordable prices,” explains Hiles, Chairman and CEO of Western Rim Property Services. “Our five Estates communities offer signature amenities designed to appeal to singles, couples, and families who have chosen the rental lifestyle.” Situated just north of Dallas in Aubrey, The Estates 3Eighty offers one- to four-bedroom floor plans featuring soaring ceilings, expansive windows, chic granite countertops, and spacious living areas. Residents enjoy a dedicated Starbucks Wi-Fi café, a private off-leash dog park, and can work at one of the iMacs or PCs in the business center. “Our intention was to create the best of both worlds,” Marcus Hiles recalls, “an exclusive lakeside escape that’s a stone’s throw away from vibrant nightlife and a thriving arts community.”
Embracing the idea that where one lives has a direct effect on health and well-being, Marcus Hiles’ Dallas developments provide a connected network of amenities that reinforce connections to both the community and surrounding environment. Parks, vineyards, schools, fitness centers, and day spas take homes beyond typical housing and into lifestyle living. Extensive maintenance by Marcus Hines Dallas developments on public and private parks, lakes, streams, and green space, creates engaged, connected neighborhoods with confidence and a sense of achievement. Marcus Hiles’ program which underwrites $13 million in tree planting initiatives adds beauty to neighborhoods, with the broader effect of reducing energy use and improving regional air quality. Discussing his dedication to respecting the environment as well as the resident, Hiles says, “Our bold goal is to lessen carbon emissions by more than 500,000 metric tons over the next decade,” adding “In the process, we’ll deliver energy savings to our residents and create sustainable, livable communities.”