Marcus Hiles – CEO of Western Rim Analyzes the Spike in Dallas Real Estate Costs

DALLAS–(BUSINESS WIRE)–#Charity–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.

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