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…)

Millennial

Photo courtesy Wikimedia Commons

It started as a drumbeat last March, as Candace Taylor of the Wall Street Journal wrote that Baby Boomers who built million-dollar, large homes, suddenly were finding it difficult to unload them because Millennial buyers (the next market of age to buy a home after Gen Xers) were disinterested in (or couldn’t afford) the homes.

Seems Boomers, who are looking to retire and downsize, and Millennials have something in common — a slim-to-nil desire to live in too much house.

“Large, high-end homes across the Sunbelt are sitting on the market, enduring deep price cuts to sell,” Taylor wrote. “That is a far different picture than 15 years ago, when retirees were rushing to build elaborate, five or six-bedroom houses in warm climates, fueled in part by the easy credit of the real estate boom. Many baby boomers poured millions into these spacious homes, planning to live out their golden years in houses with all the bells and whistles.”

The Boomer generation owns about 32 million homes and account for two out of five homeowners in the country.

Tastes Change

What nobody accounted for, really, was that tastes would change, and the buyers entering the market in the mid to late 2000s would be looking for walkable neighborhoods, energy-efficient homes, and clean floor plans, for the most part.

“Design trends have shifted radically in the past decade,” Taylor wrote. “That means a home with crown moldings, ornate details and Mediterranean or Tuscan-style architecture can be a hard sell, while properties with clean lines and open floor plans get snapped up.”

A survey by Nationwide Insurance revealed that 48 percent of Millennials wanted new construction, to avoid renovations and plumbing and electricity problems.  (more…)

Sweet American Colonial

The Hollywood Home Tour is coming up this weekend! We thought we’d offer you a sneak peek at a sweet American Colonial that has grown up, and out, and the adorable couple that had a clear vision of how to turn this home into the stunner you will see on tour.

Katie Arani

Katie and Shawn Arani have what we think is a storybook life. They started dating in high school, got married when Katie turned 21, finished college, built their first home, and then they got really lucky!

“Toyota arrived and our neighborhood exploded,” Katie said. The Aranis realized there would never be a better time to capitalize on their first home in Carrollton, and they put it on the market.

“That first house was new and almost too perfect,” Katie said. “So, I ended up filling it with old things to give it charm. Building that first house gave me the fever to find a house to restore.”

With friends in the neighborhood and longing to be closer to the heart of Dallas, they started their search in Hollywood Heights. When they found this sweet American Colonial on Santa Monica Drive they knew their search was over.

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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…)