Waco Business News: New Jobs Keep Texas Housing Going

TG2GO, July 2008
by Randy Birdwell (8/19/2008)

Associate Editor Bryan Pope hosts this edition of TG2GO, which features articles from the July 2008 edition of Tierra Grande magazine. Hear how new jobs keep Texas housing going. Watch Chief Economist Dr. Mark Dotzour explain what has to happen for housing to begin recovery. Learn about Texas' sizzling rural land market. And see Austin's plan for a clean energy business park. (4 min. 37sec.)




Frontera Development is a full service real estate development firm based in Waco, Texas. The firm focuses on residential, commercial developments and master planned communities that emphasize the values of New Urbanism and Traditional Neighborhood Development.

For more information, contact Mark P. Felton II at 254-495-1241.

fronteradevelopment@gmail.com

Cotton Crossing
Rancho Lorena
Front Porch Homes

Waco Real Estate "LEED Commercial Buildings on the Rise"

TG2GO, April 2008
by Randy Birdwell (7/25/2008)

No time to read Tierra Grande, the Real Estate Center’s quarterly magazine? Then catch the highlights with TG2GO. In the premiere edition, host Elaine Lovell talks about energy efficient commercial buildings, why homeowners are going green, and efforts the King Ranch has made toward wildlife preservation. (3 min. 35 sec.)




Frontera Development is a full service real estate development firm based in Waco, Texas. The firm focuses on residential, commercial developments and master planned communities that emphasize the values of New Urbanism and Traditional Neighborhood Development.

For more information, contact Mark P. Felton II at 254-495-1241.

fronteradevelopment@gmail.com

Cotton Crossing
Rancho Lorena
Front Porch Homes

Waco Real Estate "Class A Office Space Expanding"

In the next year, there will be the unprecedented addition of more than 150,000 sf of Class A office space in downtown Waco with more to come, according to Chris McGowan, director of urban development for the Greater Waco Chamber of Commerce. A majority of the space being developed is speculative Class A lease space. Another major trend is the development of close to 400 acres of professional and medical parks in the southwest corridor of Waco. Within a two-mile radius, construction of Class A lease space for ancillary medical and professional services is growing. The completion of the $48.5 million Providence Health Center expansion, the construction of Hillcrest Health System's $184 million campus and the announcement of a $48 million expansion by the Central Texas VA Health System are driving development. Significant business park additions in the Southwest area include Central Professional Park, Legends Crossing, Point West and Ridgewood Professional Park. At full capacity, these developments forecast the addition of 650,000 sf of professional and medical office buildings, McGowan said. In addition to this new development, several leases recently have closed in the Southwest corridor. Waco Center for Women's Health and Heart of Texas Pediatrics leased 18,000 sf and 12,000 sf, respectively, in the Central Texas Medical Center. Jackson Health Care completed a 10,000-sf lease in the Texas Central Park. There is considerable interest in downtown office development, partly due to the nationwide trend toward downtown revitalization and partly due to a strong commitment from local leaders in both the public and private sectors to ensure a healthy sustainable future for our urban areas. The renovation of the historic Roosevelt Hotel into Class A office space in downtown Waco; the construction of the new mixed-use Waco Town Square; the new Chamber of Commerce headquarters; and a new Wells Fargo Bank building all within a block of each other are leading the way in the office market as a part of the resurgence of downtown Waco. The range for Class A rental rates downtown currently is $1.25 to $1.55 NNN. The Greater Waco Chamber of Commerce has recently announced its goal of realizing a Billion Dollar Decade. By bringing together key investors, and working under a common vision, the chamber predicts $1 billion of new development in downtown Waco and along the Brazos River corridor. More than $120 million of new private investment has been announced in downtown Waco over the past year. Coupling that with a large public commitment totaling more than $200 million of new public improvements in the same area begins to paint a picture of a very bright future for downtown Waco.