Dallas Fort Worth

Dallas Fort Worth

Dallas-Fort Worth (“DFW”) is the largest metropolitan area in Texas and the fastest growing metropolitan area in the United States, with over 7,117,800 people. Its location within the central time zone, transportation infrastructure, young and educated labor force, booming economy and pro-business local governments foster a prosperous economic environment that provide an outstanding base for future growth. The Metroplex’s success as a “world-class” leader in transportation is a result of its excellent airports, interstate highway system and emerging rail routes. The Dallas Fort Worth economy consists of a diverse mix of companies and industries with recent increases in service, insurance and high-tech related industries, as well as those maintaining a major distribution network. DFW boasts the largest concentration of corporations in the U.S. with 269 corporate headquarters. Economists predict a favorable long-term advantage to DFW and other major Texas markets for corporate relocations to continue for the foreseeable future as a result of a relatively low tax burden, right-to-work status, and a
predictable regulatory environment.

Over the past two decades Dallas has experienced tremendous suburban growth as residents were looking to own houses on spacious lots in the suburbs. However, in recent years people’s preferences have changed and Millennials along with Baby Boomers are migrating back to the heart of the city as they look to rent new, hip apartments with convenient access to work and entertainment. With this increased interest in urban living, the city of Dallas has significantly invested in the revival of its downtown. With the addition of Klyde Warren Park, the Arts District, the Perot Museum, the Omni Hotel, etc. development downtown has taken off. Many buildings which have sat vacant for decades are being acquired and redeveloped by national and international buyers, truly transforming downtown’s urban living scene. With the immense demand by businesses and residents alike to be located within Dallas’ core, neighborhoods and districts surrounding the CBD have experienced significant densification with high-rise developments popping up across the landscape. Uptown, the Arts District, The Design District, Trinity Groves, Deep Ellum and Bishop Arts are a few of the unique neighborhoods which have boomed with growth in recent years. Housing supply is the tightest it has been in decades; multifamily, retail and office occupancy rates are continually rising. The last pieces of vacant land have been snatched up driving land values north and development has taken off. Dallas’ core is transforming into a live, work, play environment, with a bright future ahead of it.

Richardson, Texas

Richardson, Texas is a vibrant and multifaceted business community strategically located in one of the brightest economic regions in the world, Dallas-Fort Worth. Only 12 miles north of Downtown Dallas, in what is considered a first-ring suburb, Richardson is known as the “Telecom Corridor” because the city has more than 25 million square feet of office space and is host to a high concentration of some of the world’s largest telecommunications/networking companies. Recently named a top 10 fastest growing city, Richardson’s property tax base is deep and extends beyond its Telecom Corridor area, diversifying with other sectors including health care and finance. Businesses are attracted to Richardson because of the access to its highly educated workforce, wide array of housing options, access to amenities, major highways, other business centers in the Metroplex quality of life found in Richardson, Plano and Garland.
Richardson is an ideal business community with top caliber rankings and distinguishing qualities which attract retailers, professionals, and corporations to the area. Also, Standard and Poor’s rated Richardson AAA.

Richardson is the second largest employment center in the Metroplex and is home to approximately 3,400 businesses within Richardson’s 28 square miles. The daytime population of Richardson swells to over 130,000 people and the EPA and the Department of Transportation recognizes Richardson as “a best workplace for commuters.” Richardson has also achieved a considerable amount of corporate recruitment and retention including the Blue Cross Blue Shield development. The campus includes a 15-story, 1 million square foot regional headquarters, housing approximately 3,100 employees. Other major corporate expansions or relocations include AT&T, Bank of America Financial Services, Safety-Kleen, Verizon Business, Fossil, Cisco Systems, United Healthcare, Samsung Mobile, Qorvo, Lennox, Metro PCS, Fujitsu, Halff Associates, Raytheon and State Farm.

The Telecom Corridor is one of the most significant and unique high-tech business concentrations in the United States. The corridor encompasses approximately 30 square miles and is located 15 miles north of downtown Dallas in Richardson. The area contains more than 25 million square feet of office space, accounts for over 82,600 jobs with approximately 215,000 employees. The Telecom Corridor area was trademarked by the Richardson Chamber of Commerce in 1992. Today, the corridor is home to 5,700 companies including national corporations such as State Farm Insurance, AT&T, Verizon, Ericsson, Blue Cross Blue Shield, Raytheon and others.

The City Line Project. The 186-acre CityLine project is a stunning mixed-use development offering something for everyone. The project will be a live-work-play hot spot home to 3 million square feet of office space, 1,370 residential units, 92,000 square feet of restaurants, retail and entertainment, 150 hotel rooms, a 3.5 acre park and a 1.3 acre plaza. The retail portion of the development is anchored by Whole Foods and a 12-screen LOOK Cinemas. CityLine has a relaxed and refined atmosphere with its stylish architecture, natural landscaping, outdoor café-style seating, modern design and well-manicured parks and streetscapes. The development will be anchored by a 1.5 million square foot State Farm regional headquarters expected to house 8,000 employees and the 489,000 square-foot Raytheon office home to 1,700 employees. The project is being developed by KDC and is located at the southeast corner of President George Bush Turnpike and N Central Expressway.