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.
Marcus Hiles is one of the most visible business and real estate development leaders in the Lone Star state. He pays close attention to new companies and investors invited to the state, of which the rate is growing rapidly. “Companies are relocating to Texas in order to take advantage of our business-friendly policies and stable workforce,” he says. Also on the increase are foreign investors, who now employ more than a half million Texan workers. All of this attention and growth is doing wonders for the state’s productivity and exports, which were valued at $251 billion in 2015. The state saw a 93 percent growth in exports with free trade agreement partners over the past ten years. The biggest exports for Texas are computers and electronics, of which $45.4 billion were exported. Also at the top of the list are oil and coal products at $44.1 billion and chemicals at $39.9 billion. Texas’ biggest trading partner is Mexico, followed by Canada, China, Korea, and Brazil. The number of companies and exports continue to grow in Texas because of the pro-growth stance, resulting in increased job opportunities in addition to growing exports. Contrast this with states like California, which lost over 1,500 businesses over the past eight years, and the outlook for Texas’ economy and the workers that power it is strong.