Monthly Archives: July 2014

Midland-Odessa economy regains balance in 2014

MIDLAND – Over the past 47 months, the Midland-Odessa economies have grown 55 percent, according to economist Karr Ingham. January 2014, the 47th consecutive month of increase in the Midland-Odessa Regional Economic Index, was 5.5 percent above January 2013. January 2014 retail spending was up 5.2 percent from January 2013, which was more than 16 Read More

Odessa Industrial Building Headed to Oil Rich Permian Basin

ODESSA – A 23,750-sf spec industrial building is being developed in the Permian Basin of west Texas. The building is located at Faudree Rd. and I-20. The expandable facility will sit on a fully fenced four-acre site with stabilized yard. The building will be 20-ton crane ready, have a 26′ eave height and city utilities. Read More

Midland sports complex stirs multifamily, hotel development

MIDLAND – New apartments and hotels around the Scharbauer Sports Complex in west Midland have been approved by the Planning and Zoning Commission. Hillstone on Deauville, a 188-unit apartment complex situated on 11.74 acres, will be located on SH 191. It will be the first apartment complex in an area covered with subdivisions and hotels. Read More

Downtown Midland: 300-unit Sun Dance Creek underway

MIDLAND – Construction is underway on the $24 million, 300-unit Sun Dance Creek Apartments along Edwards St., north of downtown. Koontz McCombs is constructing the project. The apartment complex, comprised of multiple three-story buildings, will have one- and two-bedroom units, a clubhouse, pool and a cabana building, according to Carl Fairchild, project superintendent. The entire Read More

Midland wages rank first in West Texas, second statewide

MIDLAND – Average annual wages top the entire West Texas region and fall short only to those in the Houston MSA. Midlanders boast an average annual income of $49,040 — only about $800 lower than the Houston average, according to the Bureau of Labor Statistics. Between 15 percent and 20 percent of Midland workers are Read More

Verizon Jobs Ring in Odessa, Midland

ODESSA, MIDLAND – Verizon Wireless will add 60 full-time retail positions in the Midland and Odessa areas by the end of 2014. The new positions offer health care and participation in the company’s 401(k) program. Verizon Wireless also offers tuition reimbursement, adoption assistance and bonuses. Verizon has been named one of the best companies for Read More

Record enrollment at Permian Basin Universities

ODESSA – Enrollment at the University of Texas of the Permian Basin (UTPB) hit a record high in spring 2014, with 5,043 students representing a 21.4 percent increase of students and a 20.4 percent increase in credit hours. Graduate studies, engineering, nursing and dual credit were the highest contributors to the enrollment increase. U.S. News Read More

BIG & BEAUTIFUL! Move-in Ready

BIG AND BEAUTIFUL! Move-in ready 3+bed 2 bath home has a sprawling open floor plan. Two separate living, open dining, plus a bonus room that could be used as a 4th bedroom or office. Tastefully updated, well maintained home with fresh exterior paint. Covered patio is tiled and makes a great outdoor living space in Read More

Odessa Sees 1,225 Units Sell in $300M Deal

ODESSA, MIDLAND – The Related Real Estate Recovery Fund has acquired 21 Class B multifamily properties, comprised of 3,128 units, for about $300 million. The Pivotal Group sold the properties. Six assets, with 1,225 units, are in Odessa, and fourteen of the assets, with 1,751 units, are in Midland. The remaining 152 units are in Read More

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