DFW Is Changing FAST: 6 Major Developments You Need to Know About

What's up party people. It's time to get right into it today. Lots of major development updates. And when we say major development, we're talking like someone's building or redeveloping or developing something awesome. We're going to talk a bunch about what's happening over Panther Island. We got some updates and just some thoughts on the McKinney airport. We've got some major like golf and recreational development stuff happening, uh, multiple places in DFW. Am I supposed to know what Panther Island is? Uh, yes, but I'll make sure, you know, before the end of this here, there's some downtown Richardson updates. I'm ready for that. And then there are, you've got some PGA updates, you have some professional sports momentum, and then one of the ones that I sort of think about and laugh about the most, the old common Creek mall redevelopment. And there's a lot more stuff happening across DFW, but those are some of the ones that we tend to keep our eyes on. We get questions about, we're helping people buy and sell homes around and near those a lot. And you see cranes where you see signage and then no activity. And so people are just kind of curious what's going on. So we're going to kind of bounce our way through these. We will make sure Ian, that before this is over, Courtney knows what all of uh, and then some level of, uh, progress report on what's happening there, by the way, we don't always have all the information, of course, some of these developers don't want you to know that there's been an issue with loans or debt. And there've been a change of ownership, things like that. Other times, uh, we know that, you know, the walls are up, that kind of thing. So just to get into it, um, Panther Island, Courtney, uh, is an area in Fort worth basically. Um, that is, has really been for the most part, kind of a cool, um, I'm going to say landscape, but like geography feature to Fort worth, but not much happening out there. And so it is, um, basically West of town. You've got the Trinity river coming through and you've got these like hard to access land masses over there that this one is an Island. Um, but is it like Trinity river vibes? Yes. Like, but it, it hasn't been like beautiful river walk vibes. There's some cool stuff happening along the Trinity, but it's not the whole Trinity, right? It's like this, the little pocket of development. And then here's kind of, uh, like chef Tim loves got a property over there where he's got a couple of restaurants and a little hotel thing, and then it's just a bunch of grass and then it's right up against the road. You know, it's, they're trying to make this a true destination. And so Panther Island, uh, has got, um, a little over 300 acres of potential development. For the first time in a long time, there seems to be some momentum, potentially some really good funding. This would be what you're talking about. Almost like a river walk deal. Now it's not, it's going to take forever before that becomes like a flood plain. So that's what's held people back. So I mean, anytime you're at like a river, you're generally in a low lying, uh, flood insurance type of situation, but with the right type of development, you can plan for stuff like that. Can't believe I've never heard of this. Will there be any Panthers? Uh, so in theory there used to be a lot of them, but we'll wait. Are you seer? Yeah. Yes. I'm for seer. Will there now be, I don't think they're the developers themselves will be bringing extra Panthers in. But if you're a Fort Worth person, which neither of you are, as far as home, uh, that whole Panther vibe is a big deal over there. So yes, there certainly historically have been, but this is, this is 300 plus 300 or more acres of potential mixed use development, restaurants, apartments, condos, uh, some office space type stuff. This is not set in stone yet, but the first time in a long time, um, it looks like some of the infrastructure is, is going to be put into place. We're talking boring stuff like drainage studies, movement of water, real estate, like play. Yeah. As recently as March, some new regulations have changed that are obviously intended to allow for more development. Okay. Have you ever heard of the Coyote drive-in? We're way, we're way down the rabbit hole on Panther Island here. Um, but that will probably have to go away. And that's the area where a lot of this so they're getting rid of the Coyotes bringing in the Panthers. Like it's technically people are upset. I don't think this is going to shock anyone, but literally today is probably the last day based on what we've read recently, the Coyote drive-in closes today. Um, wait a minute. Because that's the, that's literally like one of the core landmasses for where this development will be. The pants are on Panther Island. Well, I just, why do they have to get rid of like the best things we have? Oh, uh, money. That's usually related to money. It's also because new things generally need to go where old things were. Now, if you're out way out in the countryside, just, you know, build you a theme park because there was nothing but land there near town off the river. Sometimes the old has to go for the new to come in. Did you ever go to the Coyote drive-in? No, but this makes me nauseous. The nostalgia, the nostalgia that she's never been to. So anyway, they're probably going to do housing, retail and all that. Oh, cool. Let me get some more apartments. I hate everybody. I know you do. And guess what? You know where your house is? That was someone's farm one time. I hate everybody. Yeah. They hate you. Stole their farm to live there. They feel fine. They sold it. I'm sure. Yeah. Anyway, uh, you know why they sold it? Money. McKinney airport. Next up McKinney airport. We talked about this one several times on the show. Um, but commercial flights. That's right. Commercial flights, not just like industrial, but like, uh, passenger flights, November 11th is when those will start at McKinney airport. That's crazy. Uh, ETX is it's code. That's right. Like you're like, uh, what's the Southwest here. Anyone know it's love, right? And then DFW and now DTX. Um, what is who's flying there? So you've got a couple of what I would consider no offense here, but little bitty airlines, Avilo airlines. Should I get into little bitty airlines? I think you should invest. I don't know. It was exciting. I have a friend that used to invest in smaller airlines and did real well. I think he knew more about airlines than us though. Uh, anyway, so little Avilo airlines, um, will be the first carrier. There will be others. Um, there have nonstop flights to like Vegas, Orlando, Tampa, Fort Lauderdale, Fort Myers, obviously a lot of Florida. Um, and I think more will come. Obviously the idea is to continue to develop that airport, add terminals, uh, add gates so that, um, more and more people. So that we had talked about an $80 million budget for the terminal. Looks like 46,000 square feet, $79 million, um, four gates with the goal and kind of the pre-construction to expand to six gates. So that, you know, they're planning on this growing. If you think about living Northeast column County, it's a hall to either love field or DFW. So McKinney airport really, really looks like a, a, a long-term expansion deal. The runways there aren't as big. So the bigger planes can't land there. So they're expanding runways. They're expanding infrastructure. They're expanding the gates and the actual building and parking, all the obvious stuff you would need for bigger flights, more flights, more regular flights, flights to far away places, you know, further places and things like that. So just like if you've been in DFW for a long time, you've seen love field really, really expand. You've seen that right. Amendment kind of go away where Southwest could fly, uh, to, you know, further routes and things like that. This feels like a, the beginning of that at McKinney airport. So lots of really, really cool stuff happening there. Ian, I'm going to go to you on the golf. I know there's a lot of interest in big time development, uh, especially on the Fort Worth side. There's obviously lots of good golf all around. Yeah. Maverick golf and ranch club. How about that? I'm not a big golfer because if I got too serious about it, I think it would probably make me, it would make me an insane person. Um, but this Maverick one is huge. So like over a thousand acres, uh, this is high, high end luxury stuff, right? Yeah. It's like 500 luxury home sites are going to be there. And when we say luxury here, we don't mean like a lot of times luxury Courtney is defined as twice the market average. So if the market average in Dallas was 400, then you would say, okay, anything 800 and up is luxury. I believe most of these are like when just to buy the lot three or 4 million is between one and 4 million. That's just a lot. That's with no house, right? Call golf course property in what's obviously becoming a pretty significantly master plan community. Pretty sure this is where like several NFL stars have already purchased lots and things like that. Yeah. This isn't just a golf course. It's a private club. It's access to all the amenities, just a golf course. It's a lifestyle. Oh, you work there now. You see, he's pitching that almost as much as the nature preserver. Yeah. Um, it looks like this will begin to be real to some people middle of next year. Yeah. Like, you know, it'll probably take a long, long time before it's fully, fully built out, but you're talking golf, private club. Um, you're talking about multiple courses, you know, you got to, you have to, and all of these like really big, uh, facilities, like you're always going to have multiple golf courses. Cause people I'm sure there'll be the chance for people to go stay there and then they do packages and all that sort of thing. So yeah, it's really important that they have. So from my notes here, there's already the course, at least the initial course is already there. People are already able to play that. And then a lot of the lots have sold and real estate development has already happened. Yeah. I don't think we yet have a lot of residents, but I think we're very, very close. And our info here could be slightly out of date cause these things move really, really quickly. Um, also bluejack, um, by the way, uh, Maverick is Southwest Fort Worth. Bluejack is more West West, uh, like Parker County Alito. Um, talk to me about that one. Yeah. So this is actually one of the, uh, Tiger Woods design golf courses. Seems like that would help. Uh, it does help and he's designed some really good ones over the years. Um, but yeah, there's going to be residential there as well. It's going to combine, you know, big lots and things like that. Um, the golf course is almost finished. So they're expecting it to open up this fall. Yep. Um, we don't exactly have a full date, but it looks like homes out there are approaching the thousand dollars per square foot range. So let's just say you wanted a 4,000 square foot house. The quick math on that is. That's right. $4 million plus the lot. Let's see if they can do 3,000 square foot house at a thousand. Is there you go. See, she's a brief math. I know I could have done the math. I knew you could. I just chose not to, but you didn't, but you didn't though. You could have. And so I knew you could sort of like not tracking. Yeah, I know. Right. But you could have done the math. I could have. All right. So bluejack is going to be super legit. I mean, both of these are like elite is not my path. So you, you know, look, I love Dallas Fort worth. I live here. I chose to live here. I'm not originally from here. I choose it. I sell real estate here. I do a lot of media. It's a big deal, but I don't say often that we have a development that causes people to want to move here and buy property from other parts of the country, unless there's a reason to permanently live here, these are those types of things, golf lovers with disposable income, build themselves a three, four or $5 million home and come play there, you know, what, four or five, six times a year. If anybody's listening that wants to build a golf course, if anyone is listening, we'll help you with the real estate site. If you would like to somehow figure out how to build an air conditioned, 18 hole golf course for North Texas. Oh, can you imagine? I mean, minority investor right here. They're not doing that, but they are doing all the simulator leagues and stuff because there's a part of the country where it's brutal. I drive by golf courses this time of year and I'm just like, Oh, you people are sick. This show is brought to you by the Todd Tremonti home selling team, where we guarantee to sell your home over the average price and under the average time. We also guarantee to help you buy a home and save at least $5,000 throughout the purchase process. Check out over 800 five-star reviews on Google. We'll get back to the show. Uh, okay. Now how about downtown Richardson, Courtney? What do you mean? You know, hold on, hold on. Before you speak, would you look me in the eyes? Balanced, fair and balanced. Don't air your bitterness. I know you want it bad and it's not quite there yet, but let's give a balanced assessment. I love that he is stopping me right. As I was about to say, this makes me nauseous. I knew where you were going to go and I just needed you to measure it. Go ahead. Can you give us a measured assessment of what's the current status of the core district, downtown Richardson? The main street reconstruction is essentially wrapping up. Uh, so it's got that more walkable, pedestrian friendly, like the roads park, the street, the sidewalks, the landscaping, yeah, the road improvements are all, uh, happening are done on the, pretty much, but the apartments are under construction. Yeah. So there's some existing apartments that are already on the ground. There's more apartments coming. The side streets now are more where like the infrastructure work is being done. Some of those little side streets that spin off a belt line or main over there are being reworked. It's intended eventually to be non-drivable for big parts of it. So it's walkable only in some areas. So they're widening the streets, even though they're not for a lot of vehicular traffic. Are they putting in like a lot of new restaurants and things like that? Like we've got a barbecue place coming. There's an Italian place over there that's pretty darn good. It's like you've got the sweet Richardson businesses just being enveloped by these high rises that they're trying to put businesses at the base of. But the intention is that it's a very uniquely Richardson downtown. Like we know we're in Richardson right now recording this. So that's why I'm saying we like as a community. We know we're not going to all of a sudden be as big as Dallas or Frisco, but we have a midday population that's bigger than downtown Dallas. More people go to work like drive from their house to work in Richardson than in downtown Dallas right now. Now that could change, but we have a ton of people midday. They don't all live here at night like they might in Dallas or Frisco or Fort Worth, but the point is this downtown Richardson idea is built around that. Like we want to keep the local businesses, but we also want to draw some cool, new, interesting things. At least that's what the developers are saying. And so there we have lost some of the locally owned little coffee shops and things because of crazy construction and stuff, but they are trying to woo them back. And the ones that are down there like Dell's burgers are still there and they want that to be part of the anchor of like Richardson has this charming, more like a downtown McKinney than a downtown Dallas, obviously. I mean, I scale obviously, but I'm older, cooler stuff, but a lot of new construction. Anyway, other thoughts on downtown Richardson? Um, I mean, not really the, I think it's just at a good stable place. It's okay to say you're disappointed. I'm disappointed, but across the highway, the Richardson Heights shopping center is getting a really nice upgrade, which is so nice. What are you disappointed about it with? Well, I just, to me, it doesn't have, it could have so much more hominess and well, and it's just taking so long. You know, it's like, it's not like really rapid construction, a hundred percent leased up and booming every weekend down there. You know, it's like plodding along. I will be so interested to see how these apartments fill up. My hope would be like this winter around the holidays, it stirs up some energy down there where it's comfortable to be outside and walk around and there are new residents and we get some new restaurants and there's some excitement and energy that that would be a good sign of, okay, it's happening. My perspective is the businesses that are at the base of these exciting developments are just sort of getting lost. The walkability is not, uh, like it's going to take us a minute to believe that it's walkable. It hasn't been. And so like just assessing them, it, it has not been easy. It usually has to start with like the onsite residents and there's just not enough there yet. Got it. All right. So a couple other things that we've talked about over time that we want to hit before we wrap this episode up, by the way, I'm Todd Tremonti. That's Courtney Cleveland. That's the Donnie Daniels. And we help people buy and sell houses all over DFW all the time. And if you would like our help, all you have to do is just Google my name, Todd Tremonti, spell it the best you can, or you can go to Todd Tremonti team.com. We're here to help you. Okay. Ian, tell me what we think we know about like Maverick stadium stars, that kind of stuff right now. Yeah. So what we know hasn't really changed over the last few months. So we know that the plan as of right now is that both the Mavericks and the stars will be leaving the American airline center and they will be moving into a brand new facility separately, two separate facilities, Mavericks, where the old Valley view mall was the stars where willow bend was slash is. Um, and they're going to be building new stadiums, restaurants, uh, apartments is going to be multi-use areas, entertainment districts. So the, and they're both in like the option period. So the real estate factory here would be sucking a lot of energy out of the victory Plaza area and creating two completely new sports driven, event driven, mixed use development deals on or near old malls. One in Plano, one in Dallas, right? North, which is where, whether you like it or not, the vast majority of the sports fans to these teams are, which is why they, they want to do that. Now you made an interesting point that they're in the kind of in the option period. Like those of us that have bought and sold houses, you're like, Oh, I've got a week or two to see if it's all going to work out. Well, with these massive development deals, you might have a year or two. Yeah. To do your due diligence, site planning, tax assessments, and all that. So these are not necessarily done deals. I know one or two insiders that are, are fairly convinced. These are a lot less concrete decisions than, than the media has, but they're exciting to keep an eye on because they will massively change the areas they go to or come from. Or if they go end up going to other areas, you know, we there's investment opportunities. There's just pure lifestyle impact, all kinds of good stuff. So we'll keep our eye on that. And we'll, we'll update soon. Talk to me about PGA. So this was one that we were really hyped up about two or three years ago. And it's a little bit more mature than some of these other ones. Yeah. And it's become what everybody I think was hoping it would be. It's become a really cool place to go. You can go stay there overnight. So when we say PGA, tell us what we're actually talking about. So the PGA of America, the headquarters of the golf of the PGA, the professional golf association, the league, when you turn TV on, on golf, it's almost always that it could be live, but it's almost always that they're corporate corporate headquarters moved to Frisco a couple of years ago. Okay. So they built a whole facility. That sounds like a boring office. They built, it is an office building. They built a world-class championship level golf course that next year will host the PGA championship, which is a big deal. One of the majors. They've also built some really fun activities for to bring kids into golf. So a little par three courses, uh, massive pudding greens and a Jeremy on our team likes to take his kids up there and go hang out. There's restaurants, there's shopping. Okay. You can stay overnight. There's like a big hotel. It's a corporate headquarters for the league, whatever you want to call them, the association. And it's a big interactive golf experience. So there's restaurants, bars, patios, full golf courses, little miniature golf courses, golf simulators, interactive pro shops, like all, it's just a massive like golf experience. And of course the peripheral businesses that come around something like that. So that now in Frisco is a major, major destination. Okay. Collin Creek mall. I said, I would, I teased it earlier because I D this is one I drive by a lot. So you're talking Northwest corner of central expressway 75 and George Bush one 90 a major, major, major highway intersection that tens of thousands, if not a hundred, probably millions of people drive by every week. And it looks like they rented 80 cranes five years ago, parked them out there and nothing's happened. Yes. And a part of that was because they can a little whoopsie happened in the very beginning. And the initial floodplain modeling was not accurate and led to a multi-year delay. What's your favorite quote from nodding Hill? Whoopsie daisies. Yeah, that's an oops. I think it's changed ownership three times since it was post mall. Definitely got to redevelop it. Tell me if I'm accurate, but last I was reading on it, it is still intended to be sort of a corporate campus plus peripheral mixed use development type deal. Houses, restaurants, corporate business, all of it. It's intended to be office buildings, hotels, restaurants, bars, retail, all of it. It's a large, I don't know how many acres, if you could find it, but it's a, it's a big chunk of land right there off of George Bush and central expressway. I mean, basically I'll give you some numbers. It was going to be 1.3 million square feet of office space, 35,000 square feet of restaurants and retail 3000 single family, multifamily homes in the core eight acres of parks and rec and trails and all that stuff. Right, right. So it's, it's dozens and dozens of acres. And they have started like you people are living there now on the West side along Custer is a Custer on the West side there. Um, there is, there are some completed, uh, new home construction. I think they're mostly rentals, but there may, there may be some salts. Um, and anyway, it's an easy to get to place if you're on the North East side of the Metroplex. And I think the whole area is excited. People that grew up here, grew up going to that mall. It was one of the big malls forever and it's just kind of sat there. People waiting forever. and one thing to point out too is that it's not unusual for things like this to take a long time. Legacy West, for example, the beginning of that was in 2013 when the shopping center area didn't open until 2017. Right. And then it's still been going. It takes that long to do the infrastructure and this had COVID going through it and all of that. Yeah. So all of that to say, why are we talking about that on DFW real estate weekly? Because all these things impact the residential real estate market here. Obviously they impact our lifestyle, they impact investment, they impact, you know, big media and corporations and how people talk about Dallas, Fort Worth and the investment that's made in our community and the tax revenue, which then impacts our schools and our parks and our city and our police and our fire. So all of this impacts itself. It's cyclical, it's, it's interconnected. Now we are emphasizing specific ones because those immediate areas around a 600 acre development or a 40 acre development, literally traffic changes, schools change, a house, home values change. There's, you know, construction and traffic annoyances. So part of that is why we talk about it. There's a lot of things we didn't talk about on this episode. We didn't talk about universal studios at all. We didn't talk about a bunch of the new kind of mid tier sports that have been coming to DFW like, you know, the Savannah banana type stuff and all kinds of other things, hockey and cricket and other things that really do drive development and housing. Here's the one thing I want to say just to kind of wrap this up for everybody is these things do matter and they don't only matter for your preference. They matter for your investment and up mattering for safety and security, the pace of the market, how we're viewed on a national stage, and even ultimately they can infect a impact or affect things like borrowing ability. Do people want to lend here? How many insurance carriers offer their services, their product in our market. So we keep our eye on that for you so you don't have to. So check back here, watch these episodes, listen to these episodes, share them with a friend that this could be helpful for. If you have somebody or you are somebody who wants to buy or sell or invest in residential real estate in DFW or around DFW, that's what we do. We specialize in desirable DFW neighborhoods and small acreage properties. Homes on land in and all around Dallas, Fort Worth, Texas. We'd be honored to earn your trust and help you make a move or anywhere else in the country. We also coach and consult with real estate agents and brokers and team leaders around the country. And if you're looking for somebody that really has their finger on the pulse of the market, knows what they're doing. We can connect you with somebody in other markets as well. Again, just Google my name, Todd from money, spell it the best way you can. You'll definitely find us or if all else fails, let's go to Todd, Tramonti team.com.