Community Development

← Older posts

Do low oil prices hurt home prices?

If you’re worried about lower oil prices and the effect on the state’s economy, there’s research that could put your mind at ease. While there is some relationship between the two, Jim Gaines, Ph.D., a research economist with the Real Estate Center at Texas A&M University, says historical data shows that this relationship is only Read More

Making Room for HEB Shelf Space

ODESSA – Construction on the new H-E-B store on West University near Loop 338 is well underway. The 98,984-sf store is located on approximately 9.75 acres. The project is estimated to be $15.8 million. The construction represents the first sign of what should be a broad expansion of grocery offerings in Odessa in the latter Read More

Air Products directs $32 million facility to Odessa

ODESSA – Air Products has begun construction on its $32 million liquid nitrogen production facility at 3300 Air Products Blvd. in the south industrial park of JBS Parkway. The Pennsylvania-based company closed on a land purchase for the property in September from Grow Odessa, better known as the Odessa Industrial Development Corporation. That came nearly Read More

Ector County home sales

ECTOR COUNTY – The number of home sales, days on the market and sales volume in Ector County from January 2014 through December 2014 have been posted by the Odessa Board of Realtors. Ector County Home Sales 2014 Month # of Sales Sales Volume DOM* Dec. 102 $20,194,467 48 Nov. 100 $23,105,610 36 Oct. 97 Read More

Odessa Business Growth Flourishes in 2014

ODESSA – The oil boom meant another flourishing year for Odessa’s economy, with low unemployment and a surge of new homes and businesses.  All part of the Odessa Business Growth. If you are just looking back at the year, it has been, frankly, a great year for the Odessa economy, and it will continue, said Read More

Odessa Construction Permit Report

Odessa construction permit 2014 value $637M vs. 2013’s $421M (1/9/2015) Odessa – The City of Odessa has released the 2014 construction permit report. Odessa Construction Permit Report 2014 YTD 2014 YTD 2013 # of Permits Permit Value # of Permits Permit Value New commercial 218 $375,810,664 197 $152,483,310 New single-family 433 $99,879,445 685 $135,533,015 New Read More

Odessa: Leases hot at Chimney Rock

ODESSA – The 340,000-sf Chimney Rock Shopping Center, situated on 36 acres at the northeast corner of Loop 338 and Hwy. 191, has gained five new tenants with leases totaling 48,100 sf. The Woodmont Co. has signed the following leases: •  Northern Tool+Equipment (18,000 sf); •  Petco (13,500 sf); •  Lone Star ER (8,500 sf); Read More

Odessa’s economic growth reliant on oil price

ODESSA – Odessa’s economy continued to grow through third quarter 2014, but that could come to a halt if oil prices remain in the $70 range for a few months, according to the most recent Odessa Economic Index by economist Karr Ingham. The study gauges multiple factors measuring the overall local economy such as building Read More

Odessa suite on Hilton hotel’s opening

ODESSA – Homewood Suites by Hilton has opened a new four-story, 121-suite hotel at 7221 Tres Hermanas Blvd. just off Hwy. 191 in Parks Legado Town Center. The estimated cost of construction totaled $7.5 million, according to state filings. The hotel is located near the University of Texas of the Permian Basin, Midland International Airport Read More

Odessa, Midland post strong growth, but watch crude oil

ODESSA, MIDLAND – The September 2014 Midland-Odessa Regional Economic Index was up 6.9 percent from September 2013, according to economist Karr Ingham. Amidst stunning growth, however, a more compelling story of impending change exists. The average price of crude, which peaked at $107 a barrel in summer 2014, averaged $89.57 in September 2014, down 13.3 percent Read More

$5.8M health care facility arrives in West Odessa

ODESSA – The $5.8 million, 23,000-sf Medical Center Hospital’s (MCH) Center for Primary Care has opened its doors at 6030 W. University Blvd. in West Odessa. The medical facility will offer pediatrics, family practice, OB/GYN, urgent care and optometry. West Odessa “…has always been an underserved area and now with the oil boom the population Read More

Ector County home sales 2014

ECTOR COUNTY – The number of home sales, days on the market and sales volume in Ector County from January 2014 through December 2014 have been posted by the Odessa Board of Realtors. Ector County Home Sales 2014 Month # of Sales Sales Volume DOM* Dec. 102 $20,194,467 48 Nov. 100 $23,105,610 36 Oct. 97 Read More

Odessa building boom continues with retail & restaurants

ODESSA – Two buildings, totaling about 30,000 sf, have broken ground near the Chimney Rock shopping center off Hwy. 191 and East Loop 338. One of the buildings, with an estimated $1.5 million construction cost, will exclusively house a hardware store, Northern Tool and Equipment. The other building will contain three restaurants, one of which Read More

One giant leap for Midland International Air & Space Port

MIDLAND – Midland International Airport is now Midland International Air & Space Port, as the Federal Aviation Administration (FAA) has approved a commercial space launch site license for the airport. Though there are eight other commercial spaceports with FAA licensing, Midland International Air & Space Port is the first primary commercial service airport certified by Read More

UTPB sees record enrollment

ODESSA – The University of Texas of the Permian Basin has a record-high fall 2014 enrollment of 5,565 students, which represents an 8.6 percent increase in number of students and a 4.4 percent increase in student course hours over fall 2013. Among the programs with a significant increase in enrollment are petroleum engineering (up 95 Read More

← Older posts
realtor
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Property listings are subject to errors, omissions, prior sales or withdrawal without notice.