THE ALLMANAC

Dallas Leads the Country in Hotel Development

DFW: The Dallas area has hit another top ranking that points to the area’s tourism, entertainment and business vitality that continues to power its growth. Lodging Econometrics, a tech and data company serving the hotel and hospitality industry and other businesses, says that the Dallas area, which includes Frisco and Plano, has more than 180 projects and 22,840 rooms in the pipeline as of June 30. In its latest U.S. Construction Pipeline Trend Report, the company says that Dallas leads the country with 38 projects under construction and nearly 4,200 rooms. And, it has close to 70 projects and nearly 8,000 rooms ready to go in the next year. And there are nearly 80 more projects and close to 11,000 hotel rooms in the early planning stages. Plus, 2027 looks to be a great year as Dallas is predicted to lead the country in new hotel openings with 27 projects and about 2,500 new rooms, according to Lodging Econometrics.

DFW: More and more young people are calling Dallas and Texas “home.” And jobs may be among the many reasons younger generations are selecting the Lone Star State and the Metroplex. Gen Zers picked Texas as the top destination for moves between July of last year and last month. That’s according to a report from U-Haul, which analyzed its customers’ destinations over the past year. For millennials, Dallas was the second-most popular metro area to move to, behind New York City. The economic strength of Texas and DFW may be part of the reason for the wave of newcomers. Texas continues to lead the nation in jobs added over the past year with government projections showing a 2% growth rate by the end of the year.

DFW: Could Dallas Market Hall be the site of a new data center campus? There are no future events planned at the 200,000-square-foot event center that has been operating for more than 60 years. And word is that Crow Holdings, which owns the 40-acre site north of downtown along the Stemmons Corridor, wants to build a 245-megawatt data center there. All Crow Holdings officials would say is that the company has been looking for more than a decade at ways to redevelop the site. The company has yet to seek formal zoning changes at the proposed campus and may not need them, depending on the type of permit requested. The company previously planned to partner with CleanArc Data Centers of Arlington on the project. The Dallas area has been ranked by Cushman & Wakefield as the No. 1 data center market in the world.

DFW:  And Talty in Kaufman County southeast of Dallas is preparing for a data center project of its own. Flexential has announced that it plans to build a Phase I 375,000-square-foot data center with 36-megawatt capacity near the town of roughly 3,500 people. That phase is expected to start early next year and be operational by the end of 2028. The 110-acre campus eventually will have three buildings with a capacity of 108 megawatts. The Denver-based company also has a data center in the Infomart building in Dallas, along with other sites throughout Dallas-Fort Worth. Kaufman County, among the fastest-growing counties in the U.S., has seen an increase in data center development in the recent past. Thousands of acres of ranch and farmland outside of Dallas have been purchased and are being developed into data center campuses to fuel the technology needs of global companies. One megawatt could power 750 to 1,000 homes. 

CALI: Russell Wilson needs to sell his Southern California mansion now that he no longer is slinging footballs on Sundays. The recently retired NFL quarterback has cut the price on his mansion near Rancho Santa Fe, just north of San Diego, from $55 million to $45 million because it’s been sitting on the market for more than eight months. He and his wife, the singer Ciara, bought the Mediterranean-inspired home for $14.5 million in 2021. They initiated a complete renovation on the 30,000-square-foot home—and not only on the inside, but throughout the property, including putting a turf football field over an equestrian arena. Wilson, who retired earlier this summer, spent most of his 14-year career with the Seattle Seahawks, but also played in Denver, Pittsburgh and with the New York Giants. He lives in New York and will be an NFL analyst for CBS Sports in the fall.

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

THE ALLMANAC