While agreeing that happiness can be achieved in many ways, Marcus Hiles remarks that the happy occupants of his more than 15,000 homes, townhomes, and flats express absolute joy about living in these classy properties. “We meticulously select land and after that create apartments that are both charming and are very energy efficient,” he explains. Thus, residents save a lot of money on utilities. Additionally, they don’t need to bother with yard work, house maintenance work, or home loan escrow accounts so they have bonus time and resources to chase their dreams. “People living in our communities can invest freely and make use of the ample opportunities that arise in different areas,” Hiles says. “A renters happiness is directly proportional to the time spent in his luxury complex indeed.”
A community-centric vision sits behind Marcus Hiles’ standing as a leading philanthropist. With a strong commitment to education, Hiles has donated more than $2.5 million to public and private primary school initiatives, after-school programs, university career services, and job placement programs in Texas. Hiles knows the importance of philanthropy, having come from humble beginnings himself. His father was an inner-city minister, and Hiles completely funded the construction of two large churches – one in Texas and the other his home state of Massachusetts.
The population of Texas increased by nearly 433,000 individuals, from 27.42 million to 27.86, furthering a growth trend that overtook the entirety of the Southern U.S. “States in the South and West continued to lead in population growth,” explained Ben Bolender, chief of the Census Bureau’s Population Estimates Branch. “In 2016, 37.9 percent of the nation’s population lived in the South.” Jeffrey S. Passel, a senior demographer at the Pew Research Center, envisions the growth continuing indefinitely, saying to the New York Times that, “the movement to the South and West is a very long term trend.” Marcus Hiles, furthering what the two researchers have stated, adds that older residents of the North and Northeast, primarily baby boomers, are finding warmer places to retire.
Marcus Hiles explains that despite these statistics seemingly noting a trend of movement to urban areas, it is in fact the surrounding suburban towns that are experiencing massive increases, mostly due to expensive downtown housing prices. As an example, the Texas A&M University Real Estate Center reported that the average price paid for a home in Austin’s local market area is $386,700, and predicted the cost to continue rising across 2017. Extreme costs of living are not only encouraging Texans to live in the suburbs, they are causing them to opt for long-term renting. In many Texas cities, including Houston and Dallas, renting has already been shown to be more cost effective than buying a house. As developers build upmarket rental communities offering resort-like amenities and services, residents will continue to realize that rental complexes provide improved quality and enjoyment of life on top of greater financial freedom.
As superyacht owners push for hybrid, fuel-saving propulsion, upmarket travelers seek sustainable accommodation, and companies reap the financial benefits of green buildings, the demand for LEED Certified Apartment Construction follows. The USGBC website notes the trend is growing largely because owners of green buildings saw an average of 19.2 percent improvement in ROI for existing buildings and about a 9.9 percent new project return, notes Marcus Hiles. According to a Smart Market Report from McGraw Hill, apartment builders discussed their reasons for building to LEED standards, with more than half responding to customer demand, three-quarters noting savings on energy use, and about 70 percent recognizing government or utility incentives. About 65 percent acknowledged a competitive market advantage over less sustainable properties.
Planned cities, such as the colonial-era developments of Jamestown, Philadelphia, and Charleston, have shaped the United States since the 16th century. In today’s America, CEO of Western Rim Property Services Marcus Hiles believes that designed communities are not only beneficial to residents, but play an integral role in the country’s real estate market. The Dallas real estate investor has been constructing stunning luxurious developments for over thirty years, witnessing firsthand the transformative impact they’ve had on Texas’ citizens and economy.
When a renter asks about a particularly popular floorplan, the chances of them receiving a higher rental rate increase due to the technology built to help landlords generate more revenue. Alternatively, if the renter inquires about what floorplans the complex has available without being specific on what exactly they’re looking for, the rent price then decreases. A New York Times article points out that technology, such as the yield management software, can help residents as well. “Just as travelers can lower their airline fare by flying at off times, residents can often lock in lower monthly rents by agreeing to lease terms that help apartment owners avoid downtime or fill less popular units.” With this being said, Marcus Hiles notes that renters should be signing leases during an off-season such as late fall or early winter.
Marcus Hiles Fort Worth based company only chooses top areas to develop near the state’s major urban centers, with its flagship communities situated in scenic expanses throughout Dallas, Austin, New Braunfels, Houston, and San Antonio. Each of the Mansions, Towers, Estates, and Grand Estates brand residences feature resort-style amenities and modern designs, yet are priced at nearly half of what similarly sized inner city apartments with fewer comforts provide. The impressive community spaces consist of spacious clubhouses, state-of-the-art, 24-hour fitness centers, business rooms and cafés with Wi-Fi, and patios boasting sleek summer kitchens and fireplace lounges. Tenants relax in infinity edge swimming pools surrounded by tanning decks and tranquil cabanas that create a vacation-like atmosphere. Other upmarket conveniences highlight the natural landscape of the grounds, including professional-level golf courses, jogging trails, dog runs and private parks.
The number of renters across the state is projected to rapidly increase over the next seven years, Hiles notes, as “economists and developers are expecting to see the percentage of renters continue to rise in most cities.” He points out that as of 2013, 54% of Houston residents were already renting their homes, and in fact, more than 6 million Texans are now renting as well. While the developers are hurrying to provide alternatives to the chaos faced by potential buyers, Marcus Hiles Dallas based company continues to offer attractive and ecologically minded loft-style apartments to those looking to avoid the hassle of buying altogether—doing his part to secure Texas’ place at the forefront of real estate development.