In the News

$215 Million Resort will bring world’s longest indoor ski run to North Texas

If all goes according to plan, the Dallas suburb of Grand Prairie will have a grand new addition in 2018. Dubbed The Grand Alps, the $215 million development is an indoor ski resort and hotel that will sit on a massive, 350,000-square-foot property off Interstate 30 and Belt Line Road.

The Grand Alps is slated to open in 2018. Courtesy photo

The City of Grand Prairie announced the news in an October 14 release, detailing the artificial winter wonderland that will soon await paying customers.

There will be beginner, intermediate and expert ski runs, in addition to ice climbing, luge track and Olympic half pipe.

A snow dome will house the longest indoor ski run in the world, which will be more than 1,900 feet in length. There will be beginner, intermediate and expert runs, in addition to ice climbing, luge track, Olympic half pipe and snowboard courses, and general snow play areas.

The ski resort will be integrated with a Four Diamond Hard Rock Hotel and Restaurant. The hotel will contain 300 rooms, two restaurants, retail stores, and a rooftop pool and deck capable of hosting live music events. Within two years, the developer must build a second hotel or double capacity.

In the release, Grand Alps Resort co-chairman Sherman Thurston called the Hard Rock Hotel “the icing on the slopes.”

“The Grand Alps will be a summertime favorite for Texans who want to escape the summer heat and enjoy a usually seasonal only sport,” Thurston said.

Construction on the hotel and ski facility is slated to begin in January 2015, with hopes of opening in 2018. According to the release, the City of Grand Prairie’s investment includes the land and very generous tax breaks, including 100 percent real estate tax abatement for seven years and 75 percent hotel tax rebate for 10 years.

The city estimates more than 1.3 million annual visitors to the venue and the creation of around 2,000 jobs. The total cost of the project is expected to reach $400 million by 2018.

“The entire area is proud to be home to the first Hard Rock Hotel in Texas,” Grand Prairie Mayor Ron Jensen said. “The Grand Alps will be a great new addition to our well established tourist business.”

Read the July 5th Allmanac for the latest news in Dallas real estate!

DC: Dallas and Austin are amount the 10 best US cities positioned for increases in home buying from Millennials, according to a recent NAR study, which analyzed 100 Metro areas with a large Millennial (under age 35) presence.

Dallas: SMU Boulevard, formerly known as Yale Boulevard, will get a $3 million makeover from Central to Greenville. That piece of the road is part of University Crossing, a new 122-acre public improvement district east of Central bounded by Lovers Lane, Mockingbird Lane and Central.

Read the July 18th Allmanac for the latest news in Dallas real estate!

DC: The combined value of housing units in the US is around $26 trillion, more than the combined GDP on the entire European Union. Nationwide prices are expected to increase 4% this year. The real estate industry employs about 1.4% of the working civilian population. 84% of real estate firms are independent, non-franchised companies. Allie Beth Allman and Associates through May has sold 45% of the $1M homes in Dallas County. The firm has 10 of the 13 top sales in Park Cities; 3 of the top 7 in Preston Hollow and North Dallas; and 9 of the top 12 in Turtle Creek/Uptown. The locally owned firm continues as the single office company leader in listings and sales in Dallas county.

Read that July 11th Allmanac for the latest news in Dallas real estate!

Dallas: North Texas preowned home sales jumped 7% in June, largest yearly gain in 2014. DFW agents sold 9,481 homes last month, the biggest single month ever, according to NTREIS data. Median sales prices were 10% higher. But even with the record total, year to date preowned sales are down 1$ from 2013. Available inventory is down 6%.

Mehrdad Moaydi buys Phil Romano’s Contemporary Estate on 10660 Strait Lane

The most expensive homes for sale in Dallas right now.

Features my listing just sold this week at 10660 Strait Lane.

Read the May 30th Allmanac for the latest news in Dallas real estate!

Dallas: Home prices hit an all time high in the latest S&P Case-Shiller Index, up 10% from a year earlier, fourth consecutive month for a double digit increase. Prices are now 6% higher than the previous peak in 2007. Nationwide prices were up 10% from last year but still 20% below pre-recession levels. National prices are groaning at a slower rate, mortgage rates are rising and negative equity is receding.

Taking Care of Business: Texas continues 10-year winning streak as best state for business

For the 10th straight year, Texas has been named the best state for business by Chief Executive magazine. More than 500 American CEOs weighed in on the annual survey, grading states on taxes and regulatory issues, quality of workforce, public health, and cost of living.

Read the May 16th Allmanac for the latest news in Dallas real estate!

Austin: Texas is the Best State for Business as ranked by Chief Executive magazine, cited for its 4.8% GDP growth, low taxes, low unemployment and growing population. Texas has been #1 for 10 consecutive years. Florida is #2.

U.S. News Names HPHS Top Comprehensive High School In Texas

Highland Park High School is the top comprehensive public high school in Texas, according to U.S. News & World Report magazine’s latest Top 100 list. On the national level, HPHS ranked 13th among comprehensive high schools.