It’s not just the summertime temperatures making Texas sizzle—its real estate market is positively on fire. Marcus Hiles, Dallas property investor, has witnessed the housing boom first-hand. The prominent and respected founder and CEO of Western Rim Property Services has developed more than 15,000 luxury townhomes and apartments across the state, with many of his signature upmarket units located within proximity to metropolitan areas in North Texas. Though Hiles focuses on building high-end rentals with many amenities, the sheer popularity of his own communities, which include the Mansions, Estates, and Towers brands, have lead him to call the Lone Star state, “the Development Capital of America.”
Hiles’s assessment is accurate: ABC News 8 in Dallas-Fort Worth reported that new homes are being constructed at their fastest pace in nearly a decade. Forbes concurs with Hiles as well, pointing out that the rise in Texan manufacturing and tech jobs has lead to an overall population increase, especially in the Austin and San Antonio metro centers. But those cities aren’t alone in ramped-up development. Dow Jones’ website MarketWatch says the upswing is statewide, and can be traced back to Texas welcoming 1,200 new residents every day, with half of the number of arrivals headed directly to the Dallas-Fort Worth Metroplex area. By offering beautifully designed and well-crafted home rentals, Hiles presents an alternative to the difficulties many find when trying to purchase a home in a market where the median price of homes has gone up nearly 40 percent since 2010. This surge is similar to the situation Marcus Hiles Dallas based Western Rim faced when it was first established in 1990; at that time, an imbalance in the home buying market propelled Hiles to action. His vision of providing elegant home rentals at reasonable prices improved Houston and Dallas real estate markets, and gave both areas an image makeover with the addition of his spacious and stylish townhome rentals.
Hiles says that the number of renters across the state is projected to grow tremendously over the next seven years, as “economists and developers are expecting to see the percentage of renters continue to rise in most cities.” He notes that as of 2013, 54% of Houston residents were already renting their homes, and in fact, there are now more than 6 million Texans renting as well. While the developers hurry in an attempt to stem the chaos from potential buyers, Marcus Hiles Dallas based company continues to make attractive and ecologically minded loft-style apartments available for those looking to avoid the hassle of buying altogether—doing his part to ensure Texas remains at the forefront of real estate development.
Marcus Hiles, Dallas news regular, real estate investor, and developer, is the Founder and CEO of Western Rim whose companies manage upscale residential properties within the greater areas of Dallas-Fort Worth, Houston, New Braunfels, Austin, and San Antonio. A graduate of Pepperdine and Rice Universities, Hiles is a committed supporter of education and has donated over $2.5 million to public and private K-12 initiatives, after school programs, as well as university career services and job placement initiatives.