Completed in 1986, the Crescent, office and retail development in Uptown Dallas sold for one of the highest prices ever in North Texas. North Texas’ real estate market has shrugged off the ongoing pandemic for the most part and is headed into the new year with great expectations.
Hall Group, Granite Properties, Dallas Cowboys owner Jerry Jones, Hillwood, Billingsley Co., Harwood International and others have already broken ground for new D-FW projects. D-FW apartment rents surged by more than 16% in 2021 — the greatest gains on record, according to analysts at RealPage.Population growth in the D-FW area and high prices that have discouraged many homebuyers increased the demand for apartments.
Most of the construction is in southern Dallas County and North Fort Worth. But warehouse building is booming east of Dallas and in Collin County, too. And in Irving’s Las Colinas development, banking firm Wells Fargo is said to be looking at plans for a huge new regional employment center that would add to its presence in the area.Biggest redos: Collin Creek and Redbird mallsConstruction kicked off this year on the $1 billion redevelopment of Plano’s former Collin Creek mall.