NewsTalk Texas

MIDLAND - The hotel business collected more than $20 million in taxable receipts in first quarter 2013.

The Texas Comptroller’s Office reported $20.1 million was collected between January 2013 and March 2013, which was an excess of $1.5 million more than Lubbock and $2.5 million more than Odessa. The total fell short of beating the top quarter in the city’s history which was $20,501,877 in 3Q 2012.

The $20.1 million during 1Q 2013 also is nearly three times the amount brought in during 1Q 2010, $7,252,122. Midland hotels collected $16.9 million during 1Q 2012. That means receipts grew by more than 17 percent in one year.

The hotels bringing in the most total receipts during the first quarter were the LaQuinta on Loop 250 ($3.6 million), the MCM Fundome in Odessa ($3.154 million) and the DoubleTree by Hilton ($3.05 million).

Read more at the Midland Reporter-Telegram.

MIDLAND - The preliminary local jobless rates for April 2013 are available, with revised March 2013 numbers in parentheses. Only the top ten are listed.

• Midland 3.0 (3.1)
• Odessa 3.7 (3.7)
• Amarillo 4.4 (4.6)
• Abilene 4.8 (4.9)
• Lubbock 4.8 (5.3)
• College Station-Bryan 5.0 (5.1)
• San Angelo 5.0 (4.9)
• Austin-Round Rock-San Marcos 5.1 (5.3)
• Victoria 5.1 (5.2)
• Longview 5.4 (5.6)

Midland’s labor force grew to 94,321 from the March 2013 figure of 93,491 and created 1,000 new jobs from March 2013 to April 2013 for a job growth rate of 1.2 percent, according to the Texas Workforce Commission.

Statewide, the unemployment rate remained at 6.4 percent, with 33,100 new jobs added in April 2013. The state has added 326,100 new jobs in 2013.

Read more at the Midland Reporter-Telegram.

For all Texas areas, see the Texas Workforce Commission's monthly report.

MIDLAND - The Planning and Zoning Commission passed items that will help develop the city’s east side.

Although construction has already begun on Sunrise at Fairgrounds Apartments, the commission approved a final plat for utility corrections.

Located near the intersection of Fairgrounds Road and Golf Course Road, Sunrise at Fairgrounds is a five-acre affordable housing apartment complex.

The complex will feature two-bedroom, two-bath and three-bedroom, two-bath apartments with vinyl plank flooring, kitchen appliances and washer and dryer hookups.

Phase one will be available for occupancy in November. The separate leasing office and amenity center will be built during phase two.

Another addition to the east side of town is a Stripes convenience store at East Loop 250 and Elkins Road.

Read more at MyWestTexas.com.

MIDLAND - Members of Midland's housing community believe it will be between 18 months to three years before the housing supply will catch up with demand.

There is a flood of combined housing units in the works — hotel rooms, apartment units and housing lots — reaching into the 5,000 range, according to the City of Midland.

In September 2012, City Manager Courtney Sharp said Midland was about 5,000 units short. In first quarter 2013, the city issued 283 housing permits.

Developers are working with the city to catch up with the demand that has workers living in hotel rooms and man camps.

People in the Midland housing industry, such as Mark Payne, a local home builder and developer of Mark Payne Homes, said the 5,000-unit shortage is a reasonable estimate that will go away in about two to three years.

The average price of a home is now at $271,000, a $30,000 increase from September 2012 and an increase of nearly $80,000 from May 2010, according to Bobby McCourt, president of the Permian Basin Board of Realtors.

National developer D. R. Horton is currently working on a 398-unit subdivision west of the Scharbauer Sports Complex.

Read more at MyWestTexas.

MIDLAND - Ground has been broken on Chevron’s new $100 million Midland campus. It will feature two four-story buildings totaling 330,000 sf. The two buildings will be connected by a walkway and will accommodate 800 employees, twice the capacity of the current offices.

Construction is expected to begin this summer on the campus west of the Scharbauer Sports Complex is expected to take 22 to 24 months. There will also be an adjacent parking garage with space for 700 cars and separate visitor parking. Amenities include a conference and training center.

The 25 acres Chevron purchased from the Scharbauer Brothers also has room for a third four-story building with capacity for 400 people.

The new campus is the largest such project to be built in Midland in at least 30 years, when the oil industry was last booming, according to Wes Perry, Midland’s mayor.

Read more at the Midland Reporter-Telegram.

MIDLAND - The zones for two hotels in development on Deauville Blvd. southeast of Sam’s Club have approved. The northern hotel will be a Cambria Suites and the southern hotel will be an independently owned upscale hotel, according to Ken Van Dyne, the city’s planning director.

Additionally, a Four Point Sheraton on Starboard is being built near the upcoming Cinergy Cinema movie theater on Liberty Drive.

A Golden Chick restaurant will be located on South Fort Worth St., just south of East Florida Ave.

Jared The Galleria of Jewelry will be built on the Midland Park Mall property, just south of Genghis Grill.

Two separate apartments were approved. The first was a 300-unit luxury apartment complex at Edwards St. and Spring Park Dr. The second was a 250-unit apartment complex at Briarwood Ave. and Mathis St. that will include single-floor buildings next to neighboring homes north of the complex.

Read more at the Midland Reporter-Telegram.

MIDLAND - All the growth in oilfield activity and new jobs have sparked a building boom with several oil companies announcing plans for or completing new office buildings to meet demand for extra space.

Chevron will break ground on a new campus west of the Scharbauer Sports Complex on 25 acres purchased from SBC Corp. The $100 million project will consist of two four-story buildings connected by a walkway. Construction is expected to be completed in early 2015.

Employees of EOG Resources will begin moving into their new three-story office building at 5509 Champions Dr. The 86,250-sf building will accommodate EOG's 112 employees and the attached covered garage has room for 215 vehicles.

Pioneer Natural Resources plans to soon break ground on a $50 million, six-story office building with an adjacent three-story parking garage to house the several hundred employees. The facility will hold the additional hundreds to be hired in the coming years. A large workout facility and cafeteria will be included.

Fasken Oil and Ranch recently moved into its new 60,000-sf headquarters at Holiday Hill Rd. and Sherwood Dr. west of Green Tree Country Club.

The two-story building is the first phase of Fasken's master-planned community, The Vineyard, which company officials hope will eventually include single- and multifamily residences, office and retail space.

There are also plans for Energy Plaza at Westridge Park, located near Chevron's new campus, which could hold up to five multitenant office buildings.

Occupancy of Class A office space is 99.8 percent and Class B office space is 98.5 to 99 percent full, according to Bill Scott of Real Estate One Midland.

Read more at the Midland Reporter-Telegram.

MIDLAND - Midland's unemployment rate in March dipped to 3.1 percent from 3.2 percent in February and 3.6 percent a year earlier.

Midland continued to report the state's lowest unemployment, followed by Odessa at 3.7 percent, according to the Texas Workforce Commission.

Midland has also recorded the nation's lowest unemployment for three consecutive months, according to the Bureau of Labor Statistics. The bureau's February data had Midland's 3.2 percent rate lower than second-place Burlington, Vt. among its 372 MSAs.

Midland and Odessa combined have added nearly 25,000 jobs over the past two years, according to Karr Ingham, Amarillo economist.

Midland's civilian labor force grew to 93,450, up from 93,154 in February and 87,565 from last March. Of that labor force, 90,536 were employed, up from 90,177 in February and 84,445 last March.

Midland added 600 jobs from February to March for a growth rate of 0.7 percent and added 5,800 jobs from March 2012 to March 2013 for a growth rate of 7.4 percent.

Midland's industrial composition remained steady with mining, logging and construction, which includes oil and gas activity, making up the largest chunk at 29 percent, according to Willie Taylor, CEO, Workforce Solutions Permian Basin. This sector added 300 jobs from February to March and has added 3,200 jobs over the last 12 months for a growth rate of 15.2 percent.

Education and health services and leisure and hospitality were the only other two sectors adding jobs from February to March. Over the past 12 months, only education and health services didn't add jobs, and information lost 200 jobs.

Trade, transportation and utilities posted the second-largest gain in jobs behind mining, logging and construction with 1,200 new jobs added, followed by leisure and hospitality with 700 new jobs.

Read more at the Midland Reporter-Telegram.

For all Texas areas, see the Texas Workforce Commission's monthly report.

MIDLAND - Midland College trustees voted to increase tuition by $3 per credit hour for in-district and Pecos County students and $7 per credit hour for out-of-district and non-resident students.

The increase will move lower-level tuition for in-district students to $56 per credit hour, out-of-district students to $103 per credit hour and non-resident students to $142 per credit hour.

For students in upper-level courses, in-district student tuition will increase to $104 per credit hour, $151 per credit hour for out-of district students and $190 per credit hour for non-resident students.

The increase represents approximately 4 percent for in-district students, 6 percent for out-of-district students and 4.5 percent for non-resident students.

These increases will begin with the fall 2013 semester and are seen as a way to balance the college’s budget when the likelihood is that additional state funds is slim and the need to pay faculty and staff higher wages is paramount.

Read more at the Midland Reporter-Telegram.

MIDLAND-ODESSA - Annual revisions to labor market data by the Texas Workforce Commission found the Midland-Odessa economy was even stronger in 2012 than believed.

The Midland-Odessa Regional Economic Index for February was 12.8 percent higher than February 2012 and marks the 36th consecutive month of increase, according to Karr Ingham, the Amarillo economist who prepares the index.

The figures showed Midland-Odessa had added an average 5,100 additional jobs in 2012, and by the end of the year, the monthly estimate was revised higher by an additional 9,100 jobs. Ingham estimated the two cities have added nearly 25,000 jobs over the last two years.

Retail sales in February were 10.5 percent higher than last February and so far this year sales are up 12.9 percent compared to 2012. Automotive spending in February was 1.9 percent above last February, but February 2012 automotive spending was 62 percent above February 2011 figures.

Building permit valuations in February were 13.8 percent below last February, but February 2012 was more than 80 percent higher than February 2011.

Midland and Odessa issued 119 new housing permits in February, down one from February 2012, which was more than double the number issued in February 2011.

Existing home sales fell 18.3 percent compared to last February, which was 40 percent above February 2011 sales. The average sales price rose 2.9 percent to $217,519 from $211,356 last February.

Read more at the Midland Reporter-Telegram.

MIDLAND - The proposed 53-story Energy Tower at City Center has begun preleasing its 560,177 sf of office space. The $350 million office-and-condominium tower will be more than twice the height of the city’s tallest building. (And Midland is known as the Tall City.)

Energy Related Properties, Wexford Capital and Edmonds International revealed how the site of the proposed Energy Tower, composed of multiple parts, will transform after construction is complete.

Regarding the tower itself, the rooftop will feature a lounge area. Underneath the lounge will be 28 floors, or 560,177 sf of office space. Underneath the office space will be 12 floors of residential space, 12 floors of hotel space, one floor of retail and five underground parking levels.

Outside the tower, 104,410 sf will be used for public park space. And 59,500 sf will be used for convention and ballroom space.

While Wexford hasn’t completed financing for the tower and office rents aren’t yet set, “money isn’t an issue,” Joseph Jacobs of Wexford said.

Midland is located in the Spraberry-Wolfcamp range, which has 50 billion barrels of recoverable oil, second in the world to a Saudi Arabian field, according to oil-exploration firm Pioneer Natural Resources Co.

See previous NewsTalk Texas.

Read more at Bloomberg.com and the Midland Reporter-Telegram.

MIDLAND - Devon Energy, which opened its 20,500-sf office at 10200 Younger Rd. near Midland International Airport in 2009, is expanding its offices.

The $2.5 million project will add 18,000 sf, providing room for 60 new offices.

Construction is currently underway and should be completed by the end of August, according to Cindy Allen, spokeswoman for Devon.

The original building design incorporated environmentally-friendly touches as HVAC ventilation units for efficient heating and cooling, automatic sensor lights to reduce energy use and energy-efficient appliances.

Read more at the Midland Reporter-Telegram.

MIDLAND - The City of Midland issued a $28 million permit for a 290-unit complex planned by Weidner Apartment Hopes. The complex will be located at 5001 W. Wadley Ave., next to Ranch House.

Spread over 15 buildings, it is expected to be similar to The Palms at Briarwood, also owned and operated by Weidner. There will be one-, two- and three-bedroom units.

To be built by McDougal Construction of Lubbock, construction is expected to take about 14 months.

Read more at the Midland Reporter-Telegram.

MIDLAND - Following the report that Midland posted the lowest unemployment nationwide in January, Midlanders learned their city had the lowest rate statewide in February.

The Texas Workforce Commission said its Midland metropolitan statistical area had an unemployment rate of 3.2 percent in February, down from 3.4 percent in January and 3.7 percent last February. Odessa reported the second lowest rate at 3.8 percent.

Read more at the Midland Reporter-Telegram.

For all Texas areas, see the Texas Workforce Commission's monthly report.

MIDLAND - XCOR Aerospace and Space Exploration Corporation (SXC) is completing the prototype of the Lynx spacecraft, expected to come out sometime after the summer 2013. XCOR is simultaneously planning for the company's expansion to Midland.

XCOR's new research and development flight test center will enable sustainable growth over the next few years.

The new facility will allow for further growth of XCOR and the development of future products such as a fully reusable orbital system in the coming years.

Upon completion and after settling into the new facility, XCOR will be able to present the Lynx to travelers at an unveiling event.

Space Exploration Corporation is aiming to send travelers on a 45 minute to an hour journey 60 km above the Earth’s surface, according to Michiel Mol, the company’s CEO.

Space Exploration Corporation expects demand for space travel to grow as they near their launch date.

In a survey conducted by the company, they estimated that by the year 2020, 20,000 people would both want to go to space and could afford SXC’s $100,000 ticket price. Travel agents can sell SXC flights.

See more about space tourism's annoying details. See 'McGregor: Help wanted for space exploration.'

Read more at Travel Agent Central.

MIDLAND - The Lakes and Windscape Apartment Homes, both built in the early 1980's, have been sold to affiliates of Stoneleigh Companies LLC. The Class B communities were each 97 percent occupied at time of sale.

The properties total 478 units. Demand for rental units is extremely high due to the city’s exceptional population growth — in a recent study, CNN ranked Midland as one of the fastest growing cities in the country.

ARA Dallas arranged the sale.

Read more at MultifamilyBiz.

MIDLAND - Developers have acquired the former Putt-Putt at 3415 N. Loop 250 West, next to Lowe’s Home Improvement with plans for a 50,000-sf shopping center on the site.

The project is already about 30 percent leased, according to Kevin Leary, one of the partners in the project.

Read more at the Midland Reporter-Telegram.

MIDLAND - Housing in the north and west sides of town continues to develop with the approval of zone changes for a hotel and apartment complex by the Planning and Zoning Commission.

The apartment, planned to be located at the intersection of Briarwood Ave. and Spence Dr., will be 250 units at 21 units per acre, said Ken Van Dyne, senior planner for the city's planning division.

The apartment complex will be a mixture of one-, two- and three-story units. The buildings closest to Briarwood Dr. will be three stories, the buildings in the middle will be two stories and the buildings on the northern part of the lot will be one story.

The apartments also will feature a two-story clubhouse, a swimming pool, a spa and a sand volleyball court.

The hotel, located on Starboard Dr., west of South Loop 250 West, will be a Four Point Sheraton, according to Sara Higgins, city spokesperson. The hotel will be five stories and is being built near the upcoming Cinergy Cinema movie theater on Liberty Dr.

Earlier this month, Planning and Zoning approved zone changed for two other new hotels — and the possibility of at least 180 new hotel rooms — near the Scharbauer Sports Complex.

The week before, in February, the Midland City Council approved zone changes for two other hotels in the area — a Hilton Home 2 and Staybridge Suites.

Read more at the Midland Reporter-Telegram.

MIDLAND, ODESSA, ANDREWS - Rising oil and gas prices have brought big oil, plenty of workers and lots of housing headaches to the nation's fastest-growing boomtowns.

Three Texas cities are among the fastest growing boomtowns in the United States, according to CNN Money. Below is the complete list of the fastest growing boomtowns.

Be sure to catch Wes Perry, Mayor of Midland on Fox Business talking about the boom and Midland's lowest employment rate in the nation.

*Rankings are based on the change in annual population estimates for metropolitan and micropolitan areas between July 1, 2011 to July 1, 2012.

Source: U.S. Census Bureau

Read more at CNN Money.

Listen to Podcast 164 for this story...and more!

MIDLAND - Energy Related Properties (ERP) plans to develop a property that will be double the size of Midland’s tallest building and could be open as early as 2016.

The Energy Tower will have 53 stories with one underground retail floor and five basement parking floors, effectively making a total of 59 floors, according to the fact sheet given to the media.

To the very tip of the building, the height will be 869.3 feet and the site area will occupy 219,582 sf.

ERP partners Wendell “Scooter” Brown and Bill Meyer, Midland County Judge Mike Bradford, Midland Mayor Wes Perry and City Manager Courtney Sharp were all onstage to unveil Energy Tower at City Center on Monday at Centennial Plaza, which is adjacent to the future site of the proposed City Center.

Read more at the Midland Reporter-Telegram.