New State Law Prevents Cities From Regulating Construction Materials

SAN ANTONIO – The aesthetics of communities across Texas could be changing after a new law went into effect this month. HB 2439 New state law prevents cities from regulating construction materials 2439, signed by Gov. Greg Abbott, limits certain regulations adopted by cities that required the specific use of materials used during construction or renovations. Cities no longer have a say, and any approved material by the national code can be allowed. Brandon Melland Leon Valley’s Planning and Zoning Director says communities were blindsided by the passage of the bill. The city sent a letter to the governor asking that he not sign the bill into law. “I think the question that needs to be asked is ‘where did this bill come from?” he said. “Because it certainly didn’t come from the citizens of Leon Valley.” Communities like Leon Valley worry that now that developers have a choice, they will choose to build with cheaper, less durable materials. He says a construction company has already informed the city they will be changing their material plans following the passage of the law. Click to read more at www.ksat.com.

Dallas’ Peloton Commercial Real Estate is Being Purchased by JLL

Two big North Texas real estate players are joining forces. Dallas-based property firm Peloton Commercial Real Estate is being acquired by JLL, the Chicago-based international real estate services firm. More than 130 professionals in Peloton’s Dallas and Houston offices will join JLL, which already has a huge presence in the area. It’s JLL’s second recent major acquisition. It just completed a purchase of Holliday Fenoglio Fowler LP, the Dallas-based investment sales and finance firm. JLL said its purchase of Peloton will accelerate the growth of the company’s leasing and property management businesses. “This is a momentous step in our journey to become a market-leading player in Texas,” JLL’s regional director David Carroll said in a statement. “With the exceptional growth we have seen in those markets, Peloton’s position as a leading provider of leasing and property management services will greatly enhance our business capabilities and breadth of services. Click to read more at www.dallasnews.com.

H-E-B Expansion Into West Texas To Continue With Lubbock Store

San Antonio-based H-E-B last week unveiled plans to open its first store in Lubbock, Texas, next year, continuing the supermarket brand’s expansion into West Texas. Slated to open in late 2020, the more than 120,000-square-foot store will offer all the signature features and conveniences familiar to H-E-B shoppers, as well as many new and expanded product selections. “The wait for Lubbock residents is finally over. We’re extremely excited to announce that H-E-B is coming to the Hub City,” said Scott McClelland, President of H-E-B Food & Drug. “Our locations across West Texas continue to thrive, and the Lubbock store will allow us to answer the long-standing call for an H-E-B in this community.” Click to read more at www.supermarketnews.com.

Colliers International Expands In Fort Worth

Commercial real estate services and investment management firm Colliers International (NASDAQ, TSX: CIGI) Aug. 26 announced a significant expansion in Fort Worth by hiring a team of investment sales professionals. “Investors need a real estate partner with the resources to obtain the best market information and get their clients the best prices in any economic environment,” said Steve Everbach, President | Central Region at Colliers International. “Colliers already has one of the largest and most experienced teams of Investment Sales advisers in the industry, and we are excited to have expanded this service in Fort Worth.” The five-person Investment Sales Team will be led by newly hired Senior Vice President Cody Payne, a veteran in the real estate business. Other team members are Michael Tran, Ross Meisner, Justin Beck and Austin Edelmon. Before joining Colliers, Payne was vice president of investments at Marcus & Millichap, where he specialized in facilitating investment sales transactions. Click to read more at www.fortworthbusiness.com.

What the Redevelopment of Downtown’s Last Vacant Building Means for Downtown

By the end of 2020, Downtown Dallas will no longer have a single major vacant building. Kourtny Garrett, Downtown Dallas Inc. In the late 1990s, when attention of the public and private sectors turned back to Downtown with a loud call for revitalization, predicated on the fact that the city as a whole would not prosper without a strong core, our vacant building count was 42. Hundreds of boarded up storefronts and dozens of quickly deteriorating historic structures lined the streets, losing bits of our history with each failing brick. Fast forward through two decades of redevelopment—catalyzed by public-private partnerships, the introduction of urban dwellers, the return of business, and evolution of a ‘livable’ Downtown with parks, restaurants, arts, and amenities—and our last albatross has turned. The First National Bank Tower will be lit and lively again by the end of next year. Click to read more at www.dmagazine.com.

McKinney Economic Development Corp. CEO, President Nears One-Year, Celebrates Rebrand

Nearly one year ago Peter Tokar moved from Alpharetta, Georgia, to McKinney. Tokar joined the McKinney Economic Development Corp. to serve as president and CEO on July 30, 2018. During Tokar’s first year with the MEDC, he has rebranded and restructured the organization and helped build a pipeline of businesses looking to call McKinney home. “The projects that we announce in a given year may have started two to three years ago,” Tokar said. “… I’ve got a lot of leads, and we definitely have a good, solid project pipeline [of businesses and projects]. … A lot of the first year is rebuilding, and it takes a year to do a full rebrand.” Under the rebrand, Tokar hopes to connect with McKinney residents and show them how the MEDC impacts the city’s tax base. The rebrand launched July 9. Click to read more at www.communityimpact.com.com.