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Texas People & Companies, December 1, 2023
- From Apartment List’s Dallas rent report…The rental market is squarely in the winter slow season, and after falling 1.3% in November, rents in Dallas are down 2.7% since their summer peak. As moving activity slows during the holidays, this is the time of year when renters find the best deals on apartments. Today the median rent in Dallas is $1,189 for a one-bedroom unit and $1,420 for a two-bedroom unit. If historical seasonal patterns hold, rent growth should heat up once again in early 2024, but a strong supply of new units coming online next year should moderate prices a bit.
- A new apartment complex in Crystal Village called The Evergrove is expected to be completed in Leander in the fall of 2024. The complex is on 15 acres and will have three buildings totaling just under 350 units. Crystal Village is a 65-acre mixed-use development on the southeast corner of 183A Toll and E. Crystal Falls Pkwy. The development will have parkland, biking and walking trails, restaurant, retail, office, and medical space after buildout.
- The Kaufman Economic Development Corp. (KEDC) added 100 acres to its 45-acre industrial business park on US 175. The business park will have 1.2 million sf of industrial space with $340 million in private capital investment. The KEDC purchased the land from Trinity Valley Community College Foundation, who has owned the property since 2019. The KEDC will provide funds to renovate the campus for workforce and corporate training.
- Denver-based owner-operator H5 Data Centers will undertake an expansion project at its San Antonio campus, which is located at 100 Taylor St. in the downtown area. The expansion will add turnkey colocation space that can support an additional 340 cabinets and up to 1.5 megawatts of additional power capacity. A construction timeline was not disclosed. The campus currently consists of two buildings totaling 85,000 square feet.
- NOVO Construction, a leading firm in Central Texas’s commercial construction sector, announces Roy Womack’s promotion to Vice President, Business Development. Roy’s professional journey spans over 10 years, primarily in the construction and healthcare industries. His expertise in project management, sales, marketing, product development, and business development has been instrumental in NOVO’s growth. His in-depth knowledge of the Austin commercial real estate, design, and construction markets has uniquely positioned him to drive the company’s success.
- ◦People
