THE ALLMANAC

More Development Planned Near Toyota Stadium

DFW: A new mixed-use development is coming to the area east of Toyota Stadium in Frisco. Hunts Sports Development along with Peak Curated Development and Venu Holding Corp. will partner on the mixed-use project that will be anchored by a nearly 300-room hotel just east of the stadium, home to FC Dallas, and its adjacent soccer fields. The project is expected to begin early next year with the first phase to include a nine-story hotel that also would have space for conventions and special events. Several restaurants, retail spaces and a mini soccer field also are planned. The Hunt family, which owns FC Dallas, already is involved with Cawley Partners in a five-phase, 1 million-square-foot office development on the stadium’s west side. Total investment in the east and west projects is expected to top $1 billion when completed. 

DFW: More development is coming to former ranch land in Pilot Point, located about 50 miles north of Dallas. A consortium of partners has purchased a 100-acre site at FM 1385 and G.A. Moore Parkway, just west of the Dallas North Tollway extension north of Frisco. Pilot Point Town Center, owned by Midas Investments and GC Land Partners, could be home to about 2,000 apartments, trails, and a commercial center that would include retail spaces, restaurants and a gas station. Earlier this year, the Pilot Point City Council granted a zoning request and a $15 million tax incentive package for the development. Over the past several years, numerous developers have been buying former farming land in Pilot Point and nearby Celina for master-planned communities and mixed-use developments. 

TEXAS: Data centers across numerous Texas counties are coming under more scrutiny. Already facing backlash from communities and residents, and a permit moratorium from the governor’s office concerned about the impact on the grid capacity, numerous centers now are facing more questions. The attorney general’s office says it is investigating data center developments in 18 metro and rural counties because the centers did not comply with mandatory water-use surveys. State officials said that less than 30% of the data centers have responded to the survey from the Texas Water Development Board. Texas is among the country’s leaders in data center development with 335 in operation, plus nearly 250 other projects in the pipeline. Virginia currently leads data center development, but Texas is on track to surpass it, driven by AI demand and cheap land.

U.S.:  Prospective homeowners in many parts of the world say extreme belt-tightening isn’t out of the question in order to afford a home purchase. Even with already higher prices for mortgages, gasoline, food and other products, Cotality says in its Consumer Sentiment Report that respondents of all generations in several countries said they would cut more spending to afford a new home. The results came from a survey conducted in the second quarter not only in the U.S., but in Canada, Australia, New Zealand and the United Kingdom. Leading the pack are Gen Zers, with 78% of them saying they would alter their lifestyle in order to buy a home. Members of other generations were not far behind as 77% of millennials, 69% of Gen Xers and 50% of Baby Boomers said they also would do the same. 

LALALAND: Angelina Jolie has sold her estate in an upscale enclave of Los Angeles for $24.75 million. The big question now is whether she’ll buy another property in the U.S. or move abroad as she has been saying for more than a year. She paid $24.5 million in 2017 for the property that once was home to famed movie director Cecil B. DeMille. It had been extensively renovated prior to her purchases, but she added her own touches to the now six-bedroom, 10-bath home. It now has several living areas, plus a fitness studio, a pool house, a guest house and a security station. It has been Jolie’s primary home for her six children after her divorce from Brad Pitt. She had told friends that she planned to sell the home and move out of the country when her youngest children, twins Vivienne and Knox, turned 18, which they did in July. Jolie once served as a Goodwill Ambassador and Special Envoy to the United Nations and owns property in Cambodia. 

COPYRIGHT © 2024. Allie Beth Allman & Associates, a HomeServices of America, Inc. company. All Rights Reserved.

THE ALLMANAC