Where did new construction jump 132% in 2013 to $500M? South Dallas. (If you live there, you probably guessed from all the cranes and hardhats.) Last night, Dallas Mayor Mike Rawlings touted the accomplishments of the Grow South plans.
The mayor (snapped during his speech at the School for the Talented and Gifted) says the Grow South initiative, now in its second year, was sparked by the fact that while 45% of Dallas residents live in South Dallas, the region only contributed about 15% of the City’s tax base. He detailed accomplishments across the region and talked about the next steps.
University General Hospital was acquired and revenues for the year are projected at $40M. People are making money in South Dallas, Mike says. (If you know someone who lives there, make them pay for dinner.) He hopes they'll make more with a private investment fund to provide access to capital for developers. A feasibility study showed investment in the area is doable and would be successful, he says. Next step: fully subscribe the first fund, identify projects, and begin investment.
That silver woman is falling... isn't anyone going to help her? The mayor dedicated about $1.5M in city funds to repair the fountains, add lighting, and add bike rental stations at Fair Park.
Dallas Farmers Market also broke ground last month on its $65M in improvements.
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