DALLAS — Our story starts with a walk down memory lane. Actually, it’s Sylvan Avenue.
In 2012, I was a brand new employee when I went to a convenience store on Sylvan to do my first story for News 8. It was about ticket sales for a huge Powerball prize.
Since then, it’s like developers here have hit the lottery.
New development has gone up all around that store. A new market, new places to live, and new places to eat. Everywhere you look, new stuff. And driving it all is the same thing that brought me here in 2012 — new jobs.
“Over the last four years, we had over 400,000 net jobs created in the Dallas-Fort Worth market," said Ted Wilson of Residential Strategies, Inc. "I’ve never seen it quite like this before.”
Stories in Jason Wheeler’s "Never Been Hotter" series
A heat map put out by TIP Strategies, called “Geography of Jobs,” shows how job creation in North Texas in recent years has bubbled up faster than every other metro area in the country, except for New York and L.A.
New homes here have been popping up just as fast to accommodate all those workers.
“They are finding us”, said Elaine Ford of Hillwood Communities, as she gave us a tour of Hillwood’s Union Park development in Little Elm.
A whole new community is being created there. Ford says they plan to put up 2,400 new homes.
“We’ve got 400 lots on the ground, and we are behind," she said. "The growth is coming so fast.”
And that development is intimate, compared to some others around North Texas.
Candace Carlisle, who covers real estate for the Dallas Business Journal has been watching the North Texas map fill up with billion-dollar-plus projects. She’s got a whole portfolio of articles about them all.
“We weren’t really covering any billion-dollar developments that were getting started or underway [in] 2011 [or] 2012," she said. "And now, it seems like every other week — or several times a week — I am covering a new, billion-dollar development.”
The Dallas Business Journal's Candace Carlisle shows News 8's Jason Wheeler hot spots in the North Texas real estate market.
To Carlisle, that is an indication that real estate planners are expecting the local economy to keep humming.
“It takes 10, 15, 20 years to build out a billion-dollar project," she said.
Indeed, looking out from Hillwood’s Little Elm property, Elaine Ford says they’re planning to keep going.
“With the growth coming and the strength of the economy in Texas, it is going to continue," she said.
All the way to the horizon… and maybe beyond.
“It looks like we will be developing new phases just to keep up," Ford said.