Corporate Relos Are Driving Growth In Platinum Corridor
What's driving the growth of the Platinum Corridor, and where do we go from here? We spoke with Scheef & Stone partner Mark Hill about the Platinum Corridor's surging commercial real estate market in anticipation of Bisnow’s Platinum Corridor event March 31. Over 750 industry pros will be at the premier gathering of commercial real estate insiders—and it isn't too late to join in.
Mark’s firm is assisting the developers of The Gate, a large mixed-use development along the Dallas North Tollway. The Gate is part of the planned Frisco $5B Mile, and close to the Dallas Cowboys’ HQ being built. Scheef & Stone’s Frisco office is in Hall Office Park, a beautiful development squarely in the middle of the Platinum Corridor, which Mark says gives him unique perspective into all the neighboring projects.
The Platinum Corridor name is fitting, Mark says, because developers spared no expense in virtually all of the commercial projects. People have noticed; both businesses and the public are coming.
Corporate relocations to North Texas are driving much of the growth. With recent big moves announced by companies like Toyota and Liberty Mutual, coupled with great schools in Collin County, unprecedented numbers of new residents are moving to the area. Mark also gives credit to local leaders who have responded to this development surge, including Frisco Mayor Maher Maso and Frisco Economic Development Corp president Jim Gandy. They’re good at what they do, Mark says, and the area is in good hands with them at the helm.
Mark believes we’re in the early innings of the Platinum Corridor boom. The Legacy projects and the Frisco $5B Mile are just the beginning, he says, and he’s eager to be part of the next wave of projects that great developers will bring. It would be hard for this extremely high level of commercial development to continue, but he’s certainly not seeing a slowdown anytime soon. Economic growth in North Texas, and in particular Collin County, is far more diverse than places like Houston, which is getting hit with low oil prices. Technology, finance and healthcare are just a few of the growth drivers in the area. If and when it comes, any downturn would be temporary; there are just too many people moving into the North Texas area for it to stay down long.
Don’t miss out on the opportunity to meet Mark and other industry experts at Bisnow’s Platinum Corridor event on March 31 at Platinum Park. Buy your ticket here and join your colleagues, friends and future clients for networking and fun.