George Washington Carver was quoted as saying, “education is the key to unlock the golden door of freedom.” Marcus Hiles, the Dallas-based real estate developer and Founder of Western Rim, agrees, believing that education is certainly the foundation for one’s success in all aspects of their life. Hiles always encourages suburban living for families preferring the best educational opportunities available. Consistently, suburban schools perform higher than urban schools in regards to test scores and graduation rates, and a study conducted by America’s Promise and noted by the New York Times elaborated that “the average high school graduation rate in the nation’s 50 largest cities was 53 percent, compared with 71 percent in the suburbs.”
When Marcus Hiles first launched Western Rim Property Services in the 1980s, he discovered an opportunity to appeal to the then-ignored luxury rental segment of the Texas real estate market. Driven by a vision for affordable luxury living, he desired to build in suburbs that were located near the state’s largest urban centers. Riding a wave of unprecedented population growth and changing trends in home ownership, Hiles’s plan for expansion revolutionized and completely modernized the housing market around the Lone Star State’s most popular urban centers. By offering resort-style amenities to an ever-rising number of renters, his unique concept continues to attract those seeking to enjoy city life without ever moving downtown. With its open spaces and incredible natural scenery, highly rated schools and nearby fine dining, entertainment and shopping, Marcus Hiles fully supports future suburban developments.
Asked about the top city for tech startups in the country, you may think of the San Francisco Bay area or Silicon Valley. But surprisingly, the top spot is Austin, Texas. On top of decades as a music mecca – the international South by Southwest Festival happens here every year – Austin has been the most rapidly growing tech town in the U.S. for many years, with more than 147 companies securing about $1 billion in funding in 2015 alone. Along with fresh entrepreneurs, big players like Amazon, Google, and Facebook have also opened offices in town. Meeting the increased housing demand in the area is real estate developer Marcus Hiles, whose vision of luxurious, ecologically-minded, but affordable, rental homes for the thriving new professional class is seen through more than 15,000 residential units that his company, Western Rim Property Services, has developed throughout Texas, in the cities of Austin, Dallas and Fort Worth.
A new report by the Data Relevance Project, communicated by the Texas Association of Realtors has indicated a 7.8 percent rise in sales in Texas for Q1 2016 as compared to the first quarter of 2015. The report provides market pointers relevant to buyers, sellers, and residential construction entrepreneurs. Property development expert based in Dallas, Marcus Hiles has expressed his views on the report.
As summer weather surrounds us, prominent Texas real estate developer Marcus Hiles offers four basic tricks that will allow apartment hunters and homebuyers to dramatically lower their energy bills. The Chairman and CEO of Western Rim Property Services, Hiles is always one to follow his own advice. He employs these energy saving tips in all of the units he builds. The first thing he suggests doing is ensuring the use of windows with a solar heat gain coefficient of 0.22 to 0.24, including the Cascade Low E Argon Gas Win Pro Series. Through heat transfer, old windows from the 1980s lose up to 100 times more energy than a fully insulated solid wall. “While older casements, transoms, and sliders are beautiful, having the newest windows and frames prevents air and energy leakage, cutting your heat loss by 75 percent,” Hiles says.
Marcus Hiles, property development specialist has promised to plant 2,500 plants annually. That is the central part Western Rim’s objective to form sustainable groups throughout Texas. As founder and CEO of Texas-based property firm, Western Rim Property Services, Hiles makes sensible subdivisions where people can lead an upgraded lifestyle surrounded by parklands, nature trails, and green spaces.
Marcus Hiles is careful of his organization’s carbon footprint with each project they plan. He is conscious about the extraordinary impact of planting trees on nature. “We give our inhabitants the minimum housing density with the most successful expanse of greenery. The work goes past improving the air quality and reducing greenhouse gases. These plants can fundamentally diminish toxins in storm water and reduce general neighborhood noise pollution. One strong tree is equal to 10 standard room-sized ac units running for 20 hours consistently. Our trees provide the necessary shade with the extremely warm Texan sun allowing it to help decrease cooling needs by almost up to 30%.”, says Marcus Hiles.
Reflecting a desirable list of benefits offered to residents of San Antonio, the best news is that housing costs, while rising, remain less expensive here compared to the rest of the nation according to a Jan. 27, 2016 Forbes article. The city also reflects a healthy rental housing market, experiencing an approximate 4 percent rent increase in 2015 according to Freddie Mac’s latest forecast, with demand for more luxury amenities accompanying wage increases. Upscale interior features of hardwood floors, 9-10 foot ceilings, tall windows, granite counters, porcelain tile, and formal entries in communities located in The Mansions at Briggs Ranch and the Estates at Briggs Ranch offer posh lifestyles at competitive prices. Both communities, created and managed by Marcus Hiles also boast outdoor amenities featuring nature trails, summer kitchens, extended WiFi, pools, splash parks, and convenient access to golf courses, contributing to an overall improvement in health, wellness, and leisure activity.
Urban living maintains many perks, but the downsides of city density are causing a new round of amenity-rich, luxury rentals in the suburbs. Marcus Hiles discusses the suburban upmarket apartment phenomenon with enthusiasm, as an expert in its increasing popularity from a frontline perspective being a developer and businessman. Projecting that today’s potential buyers would turn to rentals, when priced out of expensive, big city communities, Hiles anticipated the need. On target with the conclusions of a Forbes article that notes corporate moves to the suburbs as a job magnet for renters, the real estate mogul applied knowledge and insight to build some of the most desirable upscale apartment communities in suburban areas across the state. Marcus Hiles’ locations and planning proved successful, ahead the steep supply/demand curve that saw renting increase by seven million people in a single decade from 2006 to 2016, as noted by REIT. Holding the lowest vacancy rates in the past ten years, Fortune Magazine claims, “Demand for suburban rental apartments has boomed while construction of those units have lagged behind.”
Venture capital investments are an important measure of economic growth, Marcus HIles points out, because the influx of dollars allows companies to hire more workers, upgrade equipment, and ramp up product development and marketing efforts. As a result, capital firms receive a considerable portion of the profits, as successful young companies are sold or go public, and continue the cycle.
Marcus Hiles noted that as millennials seek more room than they can afford in the city, empty nesters look to downsize and minimize upkeep, and recent college graduates search for their first residence, developers have had to react to shifts in the market. This has resulted in the suburbs becoming decidedly more urban. Former New York City resident Rima Chodha, who recently moved to a townhome in nearby Huntington Station, stated in the New York Times, “What makes us happy is a small, functional, modern space along with a community and amenities that provide the quality of life we’ve become accustomed to while living in the city.” Apartments and townhomes are now commonly seen near town centers, within walking distance of restaurants, pubs, clubs, shops, schools, biking paths and train stations. These modern multifamily residences allow tenants to retain a semblance of a city life, with the added amenities of landscaping and maintenance services, walking trails, dog parks, gyms, business centers, and spas.