For families looking to relocate for a job at Toyota headquarters in West Plano — even if that’s just from somewhere else in DFW — the housing options are beautiful nearby.

This week’s Splurge vs. Steal looks at two big family homes near Sam Rayburn Tollway and Legacy Drive, making for a short commute to Toyota. Which one is your favorite? 

 

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Toyota National Headquarters Plano TX

The responses were mostly based on employee comments, but Lentz said he was encouraged by the high number.

“We had a planning number of around 60 percent, so if this holds up, it could mean we would have 3,000 people moving here and another 1,000 new jobs to be filled,” Lentz said from the North American International Auto Show in Detroit.

Of course you know that the Japan-based automaker is building a new North American headquarters in west Plano, and has already completed a plan for the headquarters. Now it’s time to poll who is coming and who is staying.

I saw the campus just before New Year’s, and it is coming along. The campus should be complete by February 2017, with 2 million square feet of commercial space that will cost somewhere north of $350 million, according to Lentz.

One of the D Magazines recently ran an interesting piece where they interviewed a handful (5) of relocating Toyota employees already here. The responses were pretty brief, and it was charming to hear one woman say she loved our steaks. I would love to ask more about our housing stock knowing California housing like I do, so… hmmm.  What was so interesting was that most of the transplants are moving north — McKinney, Plano, Frisco. One went to Southlake, only one went south of LBJ to Uptown. Has Dallas lost the luster?

Meantime, I’ve heard one of the top brass bought in Vaquero, Westlake, while most are just loving Plano. What have you heard? Are you working with any Toyota transplants?

Toyota groundbreaking 1.20.2015

At a ceremonial groundbreaking Tuesday, about 100 attendees watched as a Toyota Tundra truck moved the first shovels of dirt for the Japanese automaker’s $350 million North American headquarters in West Plano.

The relocation of Toyota Motor Corp.’s $350 million headquarters to Plano from Southern California was North Texas’ biggest corporate relocation of 2014. By the time construction is complete in late 2016 or early 2017, some 4,000 jobs will have been created at or moved to the 100-acre campus, including transfers from California, New York, and other states. Plus, for every one of the jobs Toyota brings to Plano, four more jobs will be created.

That’s a colossal business opportunity for Collin County realtors, who are getting ready to be a part of finding homes for those who need it. The company’s 1 million-square-foot campus is located off the Sam Rayburn Tollway and Legacy Drive in Plano, and many of the corporate employees will want to live close to that area.

“We’re all gearing up for it and we are ready to take them on, whether they’re going into Plano or Uptown,” said David Maez, broker and co-owner at VIVO Realty. “Another thing we’re going to see is all the corporations that do business with Toyota moving to the area. You’ll be adding all those other jobs and people to the area.” Jump to read more!

Toyota Executives groundbreaking

Toyota CEO Jim Lentz, President and CEO Michael Groff, and Plano Mayor Harry LaRosiliere (center). All photos courtesy of WFAA-TV.

 

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Southlake Champions sportsBy now you’ve probably heard that Dallas Mayor Mike Rawlings blamed Dallas’s loss of the big Toyota Headquarters to Plano move on low performing Dallas Public Schools, or DISD.

In an interview on KERA’s Think, Rawlings said Toyota ultimately decided to relocate to Plano because of the schools in Dallas.

“We don’t get Toyota in Dallas because of the school system. We’ve talked to them. They want to be in Plano,” Rawlings said.

Rawlings said it’s difficult to sell a company on moving to Dallas when it has so many low-performing schools that produce few graduates. He said the schools played a role in 7-Eleven deciding to move its headquarters from Dallas to Irving recently.

“They looked at a lot of things — the location, cost of real estate,” Rawlings said about Toyota. “But they want a school … The 7-Eleven CEO said, ‘I need to be where our families are sending their kids to school,’ and they are not sending them to DISD.” (more…)

2010-lexus-hs-250h_9I knew the news was hot when my nephew, who works in the film industry in LA, texted me that Toyota was moving its headquarters to Dallas. No, I texted back, they are moving to Plano. It’s a big change, he said, and also thinks California taxes and cost of living may have played a role.

Whatever, we will soon be welcoming 4,000 newcomers to North Texas.  A press release from the Japanese-based car manufacturer says the move said is “designed to better serve customers and position Toyota for sustainable, long-term growth.” According to the LA Times article James sent me, Torrance California will lose 3,000 employees to “macho” Texas and leave it’s 2 million square foot office complex in Torrance, well, empty. (more…)

live at homeWhere did Dallas fall in a study of adult children living at home with their parents? What cities will dominate new home construction this year? What did housing sales look like in February?

We have all this and more in this week’s roundup of real estate news. (more…)

Cowboys

Stephen Jones (far right) introduces his father and Dallas Cowboys owner Jerry Jones, who announced a first-of-its-kind luxury high-rise project that would combine the team’s brand with a luxury residential concept. From left to right, Robert Shaw, Charlotte Jones Anderson, Roger Staubach, Jerry Jones, and Stephen Jones (Photo by Bethany Erickson).

Twelve Cowboys Way is no joke, but legendary Dallas Cowboys quarterback Staubach did admit he had pulled an April Fools prank already Monday morning — on his unsuspecting wife.

“I was getting ready to come here today, and I woke up my wife and said, ‘Honey, honey! There’s a bunch of squirrels in the house,’” Staubach said with a fair amount of glee. “She woke up yelling, ‘What? What!’ — so I got my joke in already.”

And while they may have chuckled when asked if they worried an announcement as big as a new residential high-rise concept co-branded with a sports team might be treated with a little skepticism because of the timing — the middle of April Fools Day — Robert Shaw and Roger Staubach are serious about the project.

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Once again, Frisco makes national Real Estate news, not for being the very best community to live, or the fastest-growing community in the U.S., but for being oversupplied with brand new homes as the real estate market shifts from a seller’s paradise to a buyer’s market, and as new home sales dip nationwide by almost 9 percent:

The shift may be most pronounced in what were once the most sizzling markets. Consider Frisco, Texas, a city 30 miles north of Dallas, where narrowly spaced villas of stone and brick have replaced cow pastures. Its population nearly doubled over the past decade, to 177,000. Its 8 percent jump last year made it the fastest-growing city in America.

Prashant Gopal is an excellent journalist and a friend of our’s from NAREE. He writes in Bloomberg of how falling sales and diving housing stocks are also affecting real estate agents in Frisco, who seem to be taking the biggest hits from each other as they shrink commissions in the “builder battleground”:

On a recent weekday, Konara, the real estate broker, drives his Dodge minivan along Highway 380, a builder battleground, where national giants such as Lennar, Toll Brothers, and PulteGroup go head to head with Texas companies. He stops at sales offices, where balloons festoon posts in a vain effort to spur sales. He points to empty houses that he says were completed six months ago.

His own sales are half what they were in 2016. In many cases, he’s rebating to customers all but $1,000 of his commission on each home sale. He walks into an Indian restaurant for lunch and looks up at the television screen. A competitor, the “Maximum Cash Back Realtor,” says he’ll take only $750. “You know what that means,” Konara says. “I’ll have to do the same.”

Prashant drew attention to the fact that Frisco is also home to the glittering Legacy West, transplant nirvana with Toyota headquarters (which may have subsidized some homes for employees) as well as Dallas Cowboys headquarters, where any day you can see real estate agents dining alongside football players and the Jones family. I believe the agents he is talking to, like Konara, but I also had to check with the man who’s company sells more of Frisco than anyone: J.P. Piccinini:

JP and Associates

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