They say everything’s bigger in Texas. As a longtime resident, I can affirm that phrase is more than a figure of speech. Everything from food portions to real estate outweighs most of the country’s definition of what’s considered an “appropriate” amount. It takes years to plan, organize, and approve major developments. Any huge building you see today, was likely planned up to five or more years before it was erected. 2024 has been a season of reaping for many valuable commercial real estate deals in Texas. Here’s a handful of multi-billion dollar projects breaking ground across the great state this year.
A new self-sufficient neighborhood named Talise recently broke ground just north of Laredo, Texas. The multi-use development is valued as a $7.4 billion dollar project on 13-acres of land. The ground breaking ceremony in May 2024 was the official start to phase 1 of this area’s optimistic future. The master plan behind this huge ordeal is SE Legacy Development LLC, an economic development corporation owned by the Walker family. The Walker family invested $1.6 billion of their own dollars into the structure of this new community that will be full of homes, apartments, retail centers, schools, hospitals, businesses, even a cargo airport. The new town has tapped into a new water supply and have proudly spoken on the development of this new town. There is expected to be five distinct neighborhoods residents will be able to choose from; The Township, The Springs, The Retreat, The Preserve, and The Vistas. Single-family homes will be available in both The Springs. The Township at Talise Logistics Park will be their mixed-use component. The industrial park will have nearly 4 million square feet of warehouses, suites, and distribution buildings that will be available for business use. The thousands of residential, business, and multifamily developments is sure to be a place with plenty of dependable places to live and an opportunity for the opening of thousands of new jobs.
Texas A&M Texarkana is set for major improvements following their breaking ground event last month on $45 million project. The college is rebuilding their Business Engineering and Technology Building. Improvements include new laboratories, a lecture hall, an auditorium, and the newest addition, The Center for Financial Literacy and Investment. The expansion of space will allow for Texas A&M to offer more programs that will help students have better experiences, research efforts, and access to financial education. President Dr. Ross Alexander spoke of his gratitude to the state legislation that brought this idea to life. “We express our deepest gratitude to the state legislature – particularly Representative Gary Ban Deaver and Senator Bryan Hughes for the funding to make this transformational facility possible. We also thank Chancellor Sharp and the A&M System Board of Regents for their unwavering support of Texas A&M University – Texarkana. Their support reflects the ascendancy, growth, and momentum of this great university.”
Fort Worth, Texas. Historically known for the U.S military base that’s been stationed there since the 1800’s, will soon be the home for an affordable housing project named Northwest Village that cost a whopping $101 million dollars to get up and running. The teamwork towards this effort resulted in them celebrating the breaking ground of this new community last month. Northwest Village projects itself to be a 455 modern apartments and townhomes being build across 47 acres of land. Their design shows open spaces amongst living quarters for those who like to socialize a bit more or spend time doing outdoor activities. The residences range in space from efficiencies to three bedroom homes that come with a haven of full of amenities like conference rooms, pools, sky lounges, golf simulation, indoor putting green, public parks, fitness centers and business spaces. Northwest Village projects itself to be a tasteful, modest community. The new development will be ready for move ins come 2026.
Currently, the biggest development breaking ground near Dallas, Texas is $1 billion for lagoon community AnaCapri. The master plan from Megatel has been in the works since 2021 and excitedly started phase 2 of 8 this pass April for this resort style community that already has a few residents. For those unfamiliar, a lagoon is defined as a shallow body of water (bays, lakes) protected by a larger body of water (oceans or larger lakes) by sandbars, barrier islands, or coral reefs. The water levels are monitored and controlled for safety measures to avoid flooding when intimidating weather is at hand. There is planned to be 2.3 acres of artificial lagoon space with all the good stuff included that you’d expect from a vacation away from Texas. There will be sand beaches, water slides, surf machines, cabanas, bars and restaurants to help liven up a day out in the sun. The average home value is $500 thousand. Phase 2 ignites the construction of 400 new homes that are expected to be completed by the end of the year. The entire lagoon community is expected to be completed by 2029.
Down the road in the big city of Dallas Texas, developers broke ground last month for the long awaited Trinity River Park. A $325 million project that will bring 40,000 square feet of green space, a conservatory, playgrounds, a river, towers, bridges, and attractions for the public to enjoy. San Antonio, Texas was awarded $700 million from TxDOT in a contract last August for the completion of their I-35 NEX South Project. The goal is to have a 20 mile expansion of the highway that includes three elevated lanes, HOV lanes in each direction. The project is set to have five phases and expected to be completed by 2028. “Phase one of the I-35 NEX South project builds on Fluor’s more than two decades of work helping the Texas DOT improve safety and vehicular mobility across the state This project reinforces Fluor’s commitment to deliver quality infrastructure and supports economic development and commerce in Texas.” Shawn West, president of Fluor’s infrastructure business.
These are just a few of the many projects breaking ground across the state this year. Clearly there’s more to the south than cowboy hats and oversized steaks. The ever growing population and economy of Texas is setting itself up to be a fruitful place for families to become established for generations to come.
