DALLAS--(BUSINESS WIRE)--With an unmatched surge in the amount of businesses choosing Dallas as their destination for relocating, along with the boom in employment and home purchases, costs in the city’s property market are increasing respectively. Renowned affordable luxury community developer, Marcus Hiles’ wealth of experience has given him a comprehensive understanding of the current trends. With myriad interests driving up prices, he explains the most important factors impacting the future of the area.
In Dallas, businesses are purchasing buildings for astronomical, headline-grabbing amounts. Due to construction costs and the escalating valuation of land, capital is flowing into the area from domestic and international sources willing to pay premium rates for office locations. Like corporations, buyers on the hunt for lower-priced homes are facing difficulty with many opting to rent instead. Marcus Hiles’ Dallas based company has confirmed increased interest in his luxury rentals as conditions have limited the amount of entry-level houses below $250,000 for first-time homeowners.
As companies like Toyota relocate to the metroplex, Marcus Hiles notes corporate giants arriving to the region are in need of an expanded workforce. Upwards of 400,000 jobs have been created in the area in the last two years. Beyond the need prompted by industry, generational shifts are redirecting home seekers towards the suburbs. More millennials are moving towards planned communities outside of downtown or uptown apartments than ever before.
Chairman of Western Rim Property Services, Marcus Hiles’ unique vision for luxury living has led to his successful creation of upmarket rental townhomes and apartments across the Lone Star State. An avid philanthropist, Hiles has donated more than 59 acres of parkland designated for public use, wildlife habitat preservation, and the protection of the state’s lakes, streams and rivers.
About Western Rim Property Services:
Western Rim Property Services, Inc. develops, owns, and manages apartment homes in Dallas/Fort Worth, Austin, New Braunfels, San Antonio, and Houston, Texas. Known to offer a contemporary, high quality and luxurious lifestyle to its residents, the firm’s mission is simple: build the highest quality homes in the very best locations, maximizing views with signature amenities, in superior school districts. This assures a rapid lease-up and excellent customer acceptance.