IN THE NEWS

Five Real Estate Takeaways From Senate Approval of Coronavirus Stimulus

The $2.2 Trillion Package Includes Help for All Property Sectors, But It May Not Be Enough A $2 trillion legislative aid package approved by the Senate to address the financial fallout from the coronavirus pandemic provides fiscal stimulus, bailout grants and loans amounting to almost 10% of the nation's economy. Some of the initiative is expected to benefit the commercial real estate industry, directly and indirectly, as it braces for an uncertain financial future. Read Full Story With partial lockdowns leading to a sudden stop in economic activity, the United States is expected to experience the largest economic contraction and the most severe surge in unemployment on record, according to

BREAKING NEWS: $2T Stimulus Bill a Win for Commercial Real Estate, Says NAIOP

The historic $2-trillion economic stimulus bill agreed upon by House and Senate leaders early Wednesday morning in response to the COVID-19 pandemic has a number of positive implications for commercial real estate, according to NAIOP analysis. Among them is a technical correction to the Qualified Improvement Property provision in the 2017 Tax Cuts and Jobs Act. Show Full Story QIP is now available for immediate expensing, rather than subject to the 39-year depreciation period that made it into the TCJA through a drafting error. “This correction is a top NAIOP federal priority and its inclusion is a result of our efforts over the last two years,” NAIOP president Thomas J. Bisacquino said in

Senate Passes $2 Trillion Stimulus Bill That Includes Relief For Retail, Hotels, Multifamily

The Senate passed an unprecedented $2 trillion stimulus package Wednesday in response to the damage to the U.S. economy caused by the novel coronavirus pandemic. The Senate, voting unanimously just before midnight Wednesday evening, passed the economic aid package. The bill had been expected to pass that afternoon, but it was delayed after a group of Republican senators aired objections about its unemployment insurance provisions. The House of Representatives is expected to vote Thursday before sending the bill to the White House. Parts of the measure are aimed at providing relief in the form of loans to real estate sectors particularly hard hit by the emergency, especially hotels and restau

Metro by T-Mobile Moving Headquarters to Frisco

The company will nearly double its space with a relocation to Duke Bridges campus; 500 employees will make the move. T-Mobile is relocating 500 employees from the longtime Metro by T-Mobile headquarters in Richardson to a larger and more modern space two doors down from T-Mobile’s regional headquarters in Frisco. The relocation from Richardson combines T-Mobile and Metro by T-Mobile in the same office campus and sets up the prepaid brand for future growth in Dallas-Fort Worth. Show Full Story Since MetroPCS and T-Mobile merged in 2013, the wireless carrier has more than doubled its customer base and distribution across the country and added tens of thousands of jobs to support the Metro bra

Developer moves ahead on second $1.5B mixed-use project in Lewisville

Following city approval this week, local developer Bright Realty is ready to move forward with its second $1.5 billion mixed-use development in Lewisville. Show Full Story Bright Realty's 140-acre mixed-use development, Crown Centre, has been more than five years in the making. Since the Dallas Business Journal first reported on the development in 2014, a few things have changed, while others have stayed the same for the project located a few miles west of the firm's The Realm at Castle Hills. For starters, the development still aims to have 3 million square feet of office space at full build-out. A four-story, 109,000-square-foot spec office building is already underway, and is set to be d

Frisco City Council approves rezoning of Fields property, home of PGA headquarters, new Omni hotel

Mayor Jeff Cheney said the development will be an ‘incredible economic engine’ for the city. The Frisco City Council has approved the rezoning of the Fields estate, a project the mayor has praised and the developer has said will appeal to the city’s residents. Show Full Story Before the vote Tuesday night, developer Fehmi Karahan appeared before Mayor Jeff Cheney and council members to answer questions. “We want to create a place with character and soul — where everyone would want to come, where everyone would want to live, work, play,” Karahan said. Cheney agreed, adding that it would be an “incredible economic engine” for the city. “There’s no doubt there have been dark clouds literally,

Dallas-Fort Worth is getting a new area code because its population is growing so much

The Public Utility Commission of Texas has approved a new area code for the Dallas-Fort Worth area. According to a news release, the additional area code has been approved to accommodate continuing population growth. Show Full Story Officials say phone numbers starting with 214, 469 and 972 are expected to run out within the first three months of 2021. Once they run out, that’s when the new area code 945 will be assigned. The PUC says this new area code will meet numbering needs for the next 13 years. "The growth of the population in Dallas and surrounding cities is a reflection of the continued economic vitality in the region and across the state," Gov. Greg Abbott said in a written statem

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