Millennials are unlike any previous generation when it comes to finding a job. They don't finish school and move where the job search takes them; they pick where they want to live and then find a job, we learned Tuesday at Bisnow’s Dallas State of the Market event. That's great news for Dallas; Millennials are flocking here and the jobs are following.
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Millennials strive to live in an urban environment where the walkability factor is high, says Downtown Dallas Inc EVP Kourtny Garrett. Downtown is trying to attract young professionals by building up a holistic environment with parks and culture. The companies will follow, she says. At the top of the DDI agenda is mobility from bike lanes to improving public transportation as well as pedestrian areas. Upping the ante: 60 restaurants should open this year and there are 5,000 multifamily units under construction within a three-mile radius of the CBD.
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PegasusAblon principal Mike Ablon (second from right between VTS director of overseas sales Ben Ramsey in the Southeast, Granite COO Greg Fuller, Kourtny and Marvin F. Poer and Co’s Ken Parson) says Dallas has the lowest average age for residents of any US city. An added bonus: in-migration is the No. 1 industry here. Given the talent and age bracket moving to Dallas, the companies will come to us, Mike says. The key to maintaining that trend isn’t tax incentives, but investing in infrastructure, he says. That can be anything from the Trinity Strand to the Katy Trail. Once the in-migration ends, the music will stop, Mike says.
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Keeping the cool vibe and adding to the live/work/play mix, Granite Properties’ Factory Six03 at 603 Munger Ave in the West End is in the midst of adding another creative workspace. Granite plans to transform the seven-story, 237k SF building in the Dallas CBD into office and restaurant space. Greg (left, with Select Commercial Services' James Turner, Rhonda Reid and Steve Farr) says the creative office space has been an emerging trend for office users like tech, co-working and design firms. Really, he says, it could suit any company looking to attract the younger workforce, which prefers amenity-rich space with residential, retail and nightlife components.
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