If Texas were a sovereign country, it would be the world’s twelfth largest economy, based on its gross domestic product (GDP). Leading Dallas investor and real estate developer Marcus Hiles chalks up that the Lone Star state’s admirable credentials are due to its effective laws and policy practices directed at continually reducing government regulation and lessening spending. Hiles recommends other states to follow Texas’ lead, as over the past decade, he explains, the government has created a favorable environment for businesses and individuals to thrive in Texas. “We have no corporate tax and we are one in only seven states to impose no personal income tax,” he proudly says. Moreover, Hiles emphasizes that the Texas Legislature curbs spending growth over the course of each session.
Noteworthy Texas real estate aficionado and Founder of Western Rim Property Services, Marcus Hiles developed and built successful properties in the last thirty years across the major urban hubs in the state. Some of these communities have been built in San Antonio. Marcus Hiles is set to launch the most upscale retail project in the city. The exact locations will be revealed at a later date but the sites have been fully acquired. The apartments will possess the characteristic plush yet affordable traits of Western Rim properties. The apartments will be replete with energy-efficiency, modernity and open spaces.
The price of oil fell significantly in late 2014, pushing communities throughout Texas into economic downturns. Areas near Houston being hit the hardest, but at the end of 2016, Marcus Hiles was pleased to see that prices for crude oil doubled since February lows and active rig counts increasing by 200 in recent months. The oil industry and the city’s economy have stabilized and resumed economic growth, and in the month of November, mining and logging, the sector that includes oil and gas extraction, added 3,200 jobs. This helped the greater Houston metropolitan area see job growth of half a percent, a rise from 2015. “Everyone can uncross their fingers now, because the worst is over,” Patrick Janikowski, senior vice president of research for the Greater Houston Partnership, explained in the organization’s annual forecast of the coming year, “2017 should be a further step on the road to robust growth.”
Central Park opened to the public in the winter of 1958, and since then, the surrounding land has produced some of the highest real estate values in New York and around the world. In June, with a listing price of $250 million, a condo at 220 Central Park South became Manhattan’s most expensive property to date. Modern analysts estimate that land alongside or near a park is worth up to 20 percent more than comparable properties on a typical city block. Dallas-based developer Marcus HIles, the CEO of Western Rim Property Services, discusses the impact of one of the newest urban parks to follows the Central Park design trend, Uptown Dallas’ Klyde Warren Park.