•HOMEOWNERSHIP RATE SETS RECORD
•HOME SALES END YEAR STRONG
•DALLAS OFFICE MARKET DEFIES PREDICTIONS
•34 OFFICE BUILDINGS JOINED HOUSTON INVENTORY LAST YEAR
•OCEAN ENERGY SELLS GULF OF MEXICO FIELD FOR $86 MILLION
•INTERNET COMING TO WYNDAM HOTELS
•SAMS LOOKS TO ROUND ROCK
•TEXAS REALTORS, BUILDERS POSITIVE, MORTGAGE BANKERS NOT
•CONSUMERS MORE CONFIDENT THAN EVER
•FORMER RICE HOTEL WINS AWARD FOR ADAPTIVE RE-USE
•NOW IS TIME TO FIX DEER LEASE
•PROTECTING TEXAS HOMES FROM WILDFIRES
•TIVOLI SITE SELECTED FOR COMPLEX
•PIZZA INN EXPANDS IN D-FW
•AMERISUITES OPENS FIRST FRANCHISE HOTEL
•UPCOMING CENTER SEMINARS

January 25, 2000
•NEW STUDY REFUTES CASE FOR 'SMART GROWTH'
•ENTIRE TEXAS TOWN ON THE AUCTION BLOCK
•OPEN HOUSES TO INTRODUCE EXECUTIVE EDUCATION PROGRAM
•HOME SELLERS WEBSITE SECURES $53 MILLION IN FINANCING
•WEBSITE CHANGES NAME BEFORE LAUNCH
•COMMERCIAL HAPPENINGS
•FHA-INSURED MORTGAGES CAN PROVIDE FOR STORM SHELTERS
•DRYERS NOW MATCH WASHERS IN SPEED
•MARCH SEMINARS

January 21, 2000
•FHA HOME MORTGAGES AVAILABLE ON INTERNET
•HABITAT FOR HUMANITY LAUNCHES $500 MILLION CAMPAIGN
•TEXAS PUC TO VOTE ON UTILITY SALE
•TEXANS URGED TO PLUG ABANDONED WELLS
•NAHB SEEKS END TO LUMBER AGREEMENT
•EL PASO ENERGY BUYS AGAIN
•STRONG FIRST QUARTER SEEN, DESPITE FEARS FED WILL HIKE RATES
•MORTGAGE LOAN APPS INCREASE
•U.S. CONCRETE TO BUY BEALL INDUSTRIES

January 19, 2000
•HALLIDAY, MITCHELL NAMED FIRST RECIPIENTS OF NEW LIFETIME ACHIEVEMENT AWARD
•HOUSING SALES TO REMAIN STRONG, SAYS NAR
•EL PASO ENERGY BUYS COASTAL CORP. FOR $16 BILLION
•TEMPORARY MANUFACTURED HOUSING GLUT REPORTED
•AMERICANS MOVING LESS
•SURVEY SAYS: ACCOMMODATE GROWTH
•SAN ANTONIO TO SHARE IN $100 MILLION HOUSING PLAN
•O'REILLY AUTOMOTIVE BUYS GATEWAY AUTO SUPPLY
•BASS HOTELS ENTERS AUSTIN MARKET
•CONSTRUCTION-TO-PERMANENT MORTGAGES AVAILABLE
•PROVIDIAN TO OPEN AUSTIN CENTER
•TEXAS DEVELOPMENT WINS HUD AWARD FOR HOUSING DESIGN
•NATION'S POPULATION TO DOUBLE BY 2100, SAYS CENSUS BUREAU
•LOAN PROSPECTOR ON INTERNET COMING TO RETAIL LENDERS
•CONOCO-McLANE FORM ALLIANCE
•PROPERTY TAX DEADLINE NEARS
•MACKIE AUTOMOTIVE SYSTEMS DISTRIBUTION CENTER COMING TO ARLINGTON
•EPA RECOGNIZES 15 TEXAS ORGANIZATIONS
•SUN OPENS TWO AUSTIN COMMUNITIES

January 12, 2000
•NO SHORTAGE OF TEXAS TIMBER
•TEXAS LEADS NATION IN UTILITY REVENUE
•CARRAMERICA COMPLETES DALLAS OFFICE BUILDING
•BUDGET INCLUDES HOUSING VOUCHERS FOR POOR
•START-TO-FINISH INTERNET BROKER OPENS IN AUSTIN
•LATEST IN CONCRETE HOMES ON DISPLAY IN DALLAS
•TRACTOR SUPPLY OPENS WACO DISTRIBUTION CENTER
•HOME SALES CLIMB, INVENTORIES FALL
•CRATE & BARREL LAUNCHES NEW FORMAT
•NEWMARK OPENS NEW DIVISION
•BFGOODRICH REITERATES DESIRE TO KEEP TEXAS FACILITY OPEN
•APPRAISAL DESIGNATIONS PAY
•REFINERIES, RURAL LAND, LAW AND MINERALS SEMINARS COMING

January 5, 2000
•Homestead Exemption Under Fire In Washington
•Higher FHA Loans Announced
•HUD Computer Centers Now In Every State
•$150 Million Luxury High-Rise Planned Near Houston
•Vartec Leases Dallas Building For HeadQuaters
•El Paso Wins EPA Grant
•U.S., Mexico To Disclose Hazardous Waste Sites
•Longhorn Pipeline Hearing Set for January 10
•November Construction Rate Hits $715.1 Billion
•Investcorp Stops On Boardwalk
•Arlington Firm Named Corporate Builder Of The Year
•They Grew - But Not That Fast

March 31, 2000

TEXAS HOUSING INVENTORIES CONTINUE SHRINKING

COLLEGE STATION, Tex. -- Texas' inventory of unsold existing homes and the number of days a home is typically on the market continue to fall. Both categories are 7 percent less than one year ago.

According to data collected by the Real Estate Center from participating Multiple Listing Services (MLS), the state-wide inventory in January was down to 4.3 months. Austin had the state's smallest inventory -- 2.1 months, 30 percent smaller than at the same time last year. McAllen has the largest inventory at 14.1 months.

The estimated days-to-sell a typical existing home through the MLS in January was 65 days. While an Austin home was selling on average in about 32 days, a McAllen home was typically on the market 214 days.

Five Texas markets report the median sales price for local homes is more than $130,000. These are Collin County ($158,100), Denton County ($139,100), Northeast Tarrant County ($136,300), Fort Bend County ($132,400) and Austin ($134,200). The state-wide median for the 12 months ending Jan. 31, was $103,900., up 10 percent from a year ago.

San Marcos reported the biggest January-to-January increase in the number of homes sold. The 22 existing home sales were 83 percent more than last year. Killeen-Fort Hood was second with a 22 percent increase. Overall, Texas MLS home sales in January were down 1 percent from a year ago.

January median prices were up 59 percent in Paris -- from $45,000 last year to $71,700 in 2000. Galveston's January median was up 37 percent, from $69,300 to $95,000. The overall Texas MLS median existing home sales price was up 10 percent to $103,900.

For the latest numbers, visit the Real Estate Center web site at http://recenter.tamu.edu

MCE CLASSES OK'D FOR BROKERAGE OFFICES

AUSTIN, Tex. -- Beginning June 1, mandatory continuing education (MCE) courses may be taught in real estate brokerage offices providing the instruction is offered only in areas conducive to learning and is isolated from other work activities.

This major policy change was approved Monday by the Texas Real Estate Commission. Commissioners also clarified how instructors may withhold course credit from students who are disruptive in class.

Another rule change will allow the Commission to approve real estate MCE instructors on their ability to teach within relevant subject areas rather than on the basis of specified individual courses.

Also, under new rules, approved single course offerings may now be repeated up to four times during a year as long as the provider remains qualified. In other policy changes, Commissioners approved new rules governing real estate inspections. Effective Sept. 1, new requirements become effective for inspectors examining physical conditions in residential and other properties.

$94 MILLION PLANT PLANNED

AUSTIN, Tex. -- A $93.7 million power plant in south Austin will be built by Austin Energy and Enron North America Corp., the Austin Business Journal online reports today.

The plant, which will generate 180 megawatts, will be running by summer 2001.

EL PASO RETAIL CENTER SELLS FOR $14 MILLION

EL PASO, Tex. /PRNewswire/ -- A 110,179-square-foot retail center on 7.8 acres in El Paso has been bought by One Liberty Properties Inc. for $14 million.

The retail center is occupied by Best Buy Co., Barnes & Noble Inc., CompUSA Inc. and The Mattress Firm. One Liberty is a real estate investment trust specializing in the purchase of net leased, single-tenant retail, office and industrial properties.

SAN ANTONIO WOMAN WINS DREAM HOME

KNOXVILLE, Tenn. /PRNewswire/ -- A Texan is this year's winner of Home & Garden Television's (HGTV) "Dream Home Giveaway."

Mary Barker of San Antonio has won a fully furnished, 2,044-square-foot, custom-built house on a prime piece of coastal real estate at Nehalem, Oregon. In addition to the home, Barker won a new 2000 GMC Yukon XL sport utility vehicle.

Ronnie Gerhardt of Chico, Texas, was one of HGTV's five regional winners. He receives a $5,000 Sears gift card.

Barker and Gerhardt were among 5.4 million entrants

NEW HOME SALES REMAIN STRONG NATIONALLY

WASHINGTON, DC /PRNewswire/ -- Sales of new single-family homes declined .5 percent in February to a seasonally adjusted rate of 919,000 units, the Commerce Department reported yesterday.

Unusually warm weather in January and February has boosted the housing market, says Robert Mitchell, president of the National Association of Home Builders.

The median price for new homes sold in February rose to $162,000 from $158,000 in January. Houses for sale fell slightly to a seasonally adjusted total of 311,000, a 4.1-month supply at the current sales rate.

BUILDING PRODUCTS FIRM TO SELL FOR $348 MILLION

DALLAS, Tex. -- Today's Dallas Business Journal online reports that Cameron Ashley Building Products will be purchased by an investment group led by CGW Southwest Partners IV L.P. for $348 million.

Cameron Ashley distributes building products through 160 branches in the United States and Canada.

ARCHITECT SELECTED FOR GLADNEY CENTER

FORT WORTH, Tex. /PRNewswire/ -- WorkPlace USA of Dallas has been selected to design a new campus for the Gladney Center for Adoption in Fort Worth.

WorkPlace USA, formerly The Amend Group, has offered a substantial donation of architectural design and project management services for the project. Their strategic partners, Brockette-Davis-Drake Inc., James Johnston & Associates and the SWA Group also are donating services.

The Gladney Center has placed more than 25,000 children.

 Top of Page

March 28, 2000
TEXAS LOSING NEARLY $52 MILLION ANNUALLY TO INTERNET SALES

NEW YORK, NY (Business Wire) -- Debate over taxing Internet sales is heating up. Last week Texas shopping center executives met with congressional leaders in Washington DC to argue against tax-free Internet sales.

" . . . States and local governments are losing millions of dollars in revenue because sales taxes due on purchases made via the Internet are not being paid," says Drew Alexander, president of Weingarten Realty Investor.

According to Forrester Research, Texas lost more than $51.8 million in uncollected sales taxes last year because of Internet purchases.

"In 1999, Texas shopping centers generated $3.6 billion in state sales taxes -- taxes that help pay for schools, hospitals, roads and police and fire protection. It is hard to imagine that it was the intent of the U.S. Congress to erode the tax base of local government," said Alexander.

NAR TARGETS TV VIEWERS WITH ADS

WASHINGTON, DC /PRNewswire/ -- The National Association of Realtors (NAR) is launching two new television ads this month as part of a $15 million media campaign to promote its Realtor.com web site and educate consumers about the value Realtors bring to real estate transactions.

The 2000 campaign is an extension of the $33 million public awareness campaign NAR began in July 1998.

HILTON HOTELS OPENS DALLAS DOUBLETREE

BEVERLY HILLS, Calif. (Business Wire) -- Hilton Hotels Corp. has opened the 204-room Doubletree Club Dallas Park Central in Dallas. Just ten miles from downtown and 15 minutes from Dallas-Fort Worth International Airport, the mid-rise, four-story structure features the 'Business Club Room,' which also functions as a business hub, residential-style lounge area and cafe. The hotel also offers three meeting rooms with 2,500 square feet of meeting space.

LUMINANT LIGHTS UP DALLAS

DALLAS, Tex. /PRNewswire/ -- Occupying more than 48,000 square feet on two floors of the 16-story Galleria North, Tower One Building, Luminant Worldwide Corporation consolidated five Luminant Dallas facilities to one national headquarters location. Centrally located, the building was chosen because it captures the area's best industry talent and offers proximity to the company's local client base of Global 100 companies and Internet-centric firms.

IF YOU BUILD IT, THEY WILL COME

AUSTIN, Tex. -- Industrial space is being captured almost as fast as developers can build it in North Austin. According to Monday's Austin Business Journal, nearly 500,000 square feet is being added. Development 2000 Inc. is expected to deliver the first 90,000 square feet of the Wells Branch Tech Center in May. The project is southeast of Wells Branch and I-35, and when built to capacity, will comprise 160,000 square feet.

Farther north, across I-35, ProgLogis of Aurora, Colorado, is getting ready to kick off the next phase of Corridor Park. The company has already completed nearly half a million square feet of space in six buildings, and the entire project is leased. When completed, more than 315,000 square feet will be added to the park.

HOUSTON ASSOCIATION OF REALTORS JOINS FORCES WITH TEGRIS

BELLEVUE, Wash. /PRNewswire/ -- TEGRIS Corporation has formed a technology partnership with the Houston Association of Realtors (HAR). TEGRIS is expected to perform advanced data management services for HAR during the first phase of this partnership.

KING WILLIAM CROWNED WITH CONDOS

SAN ANTONIO, Tex. -- Steve Yndo has formed a partnership with the owners of two contiguous vacant industrial buildings to develop loft-style condos in the King William neighborhood. According to Monday's San Antonio Business Journal, the King William Lofts will have 11 condominiums covering about 32,000 square feet. The two buildings create a single structure stretching between Alamo and Madison Streets. All units will be two stories and range in size from 2,000 to 4,000 square feet. Sales prices will be about $90 per square foot.

EXISTING HOME SALES SHOW MODEST REBOUND

WASHINGTON, D.C. /PRNewswire/ -- Sales of existing single-family homes rose modestly in February after a sharp decline in January, indicating the market is beginning to stabilize, said the National Association of Realtors. Existing home sales increased 6.7 percent in February to a seasonally adjusted annual rate of 4.75 million units up from 4.45 million in January. The resale pace last month was 7.6 percent below the 5.14 million unit rate recorded in February 1999.

There were 1.09 million existing homes available for sale at the end of February, representing a 2.8-month supply at the current sales pace, up 7.7 percent from a record low 2.6-month supply of housing inventory reported in January. However, the current supply is 39.1 percent below February 1999, when there was a 4.6-month supply of homes on the market. The association predicts a general slowdown for the housing market this year.

For more information, go to http://nar.realtor.com/news. GREAT SPRING WATERS QUENCHES THIRST FOR SPACE

FORT WORTH, Tex. -- Great Springs Waters of America is taking over the entire 310,000-square-foot CentrePort Distribution Center at 14900 Trinity Boulevard and is installing a new $10 million line minimizing the number of production changeovers at a nearby bottling facility. According to Monday's Dallas Business Journal, Great Springs Waters has been in the Metroplex since 1991 and currently has 410 employees with plans to hire at least 50 more by year's end. The company manufactures 14 different brands, each specific to the regional market in which they are sold. Local brands include Ozarka and Oasis.

REVEILLE FOR MILITARY HOUSING

CHICAGO, Ill. /PRNewswire/ -- Inadequate housing has been the military's Achilles heel in its retention battle for an all-volunteer force. Although initially bogged down, the Military Housing Privatization Initiative in 1996 shows signs of reaching full stride.

Lenders and financial guarantors are developing aggressive underwriting methodologies that virtually eliminate the necessity of developer equity, says a new Duff & Phelps Credit Rating Company report.

An executive summary of the report is available at http://www.dcrco.com with a quick search for the word "military."

TENTH ANNUAL OUTLOOK FOR RURAL LAND MARKETS REVIEW

COLLEGE STATION, Tex. -- The economy is surprisingly strong, according to Mark Dotzour, chief economist with the Real Estate Center at Texas A&M University, at Friday's Outlook for Rural Land Markets Seminar. People are buying rural land and houses in suburbs because they are confident. The Consumer Confidence Index continues to rise, and in the last week of 1999, it hit a record high. "Existing home sales are on fire and still climbing," says Dotzour. The inventory of homes has dropped in the past three months, and the market place is fairly tight with the exception of the manufactured home sector.

Judon Fambrough, attorney with the Center, spoke on laws affecting the real estate industry, and believes future controversies will include determining which public policy controls oil and gas production and groundwater conservation districts. Fambrough also discussed new laws in the industry.

For instance, a real estate licensee can now sell an unlimited number of manufactured homes if the landowner listing the property owns the manufactured home. Penalties for violating the Texas Real Estate Licensing Act have been raised from a Class C to a Class A misdemeanor and are now subject to a $4,000 fine plus one year in jail. Also, as of September 1, 1999, county commissioners may now establish minimum infrastructure standards for manufactured home rental communities and must approve any plats.

DALLAS TOWERS PLANNED

DALLAS, Tex. (Business Wire) -- Harwood International opened a 20-story office building at 2828 North Harwood today. The building is part of the Harwood International center development, more than 700,000 square feet of Class A office space in a four-building campus.

Harwood officials also announced plans for two additional buildings at the site totaling 500,000 square feet.

 Top of Page

March 23, 2000

eREALTY TAKES ROUND ONE
AUSTIN, Tex. /PRNewswire/ -- eRealty.com took round one this week in its bout with the Austin Board of Realtors (ABOR) over the company's posting of Multiple Listing Service (MLS) data on its web site.
 
Fed. Judge James Nowlin granted a preliminary injunction to eRealty.com after hearing arguments from both sides. eRealty offers access to MLS listings to registered users. The brokerage firms argued that MLS access is in the best interest of consumers because it saves them time and money. ABOR said eRealty.com is violating the governing rules of the association as well as federal copyright law.
 
ABOR officials pledged to work with eRealty to resolve the dispute but added, "we will not surrender our right of ownership over this data." ABOR has more than 4,300 members.
 
MCE RULES, HOME INSPECTORS ON TREC AGENDA
 
AUSTIN, Tex. -- Final action on proposals for the state's mandatory continuing education (MCE) rules plus standards of practice for home inspectors are on the agenda for Monday's meeting of the Texas Real Estate Commission (TREC).
 
Commissioners are considering a number of MCE proposals regarding curricula, classroom procedures and approval of providers. One proposed change would allow courses to be taught in the real estate broker's office, providing that instruction is offered only in areas conducive to learning and isolated from other work activities.
 
Another proposal would set minimum standards inspectors must meet when conducting an inspection of accessible parts, components and systems typically found in residential and other real property.
 
The Commission will hold a public forum from 1-4 p.m. on proposed changes to its five-year strategic plan.
 
The meeting is March 27 at 9 a.m. in room 235 of TREC headquarters, 1101 Camino La Costa, Austin.
 
NATION'S FIVE LARGEST HOMEBUILDERS JOIN FORCES ON INTERNET
NEW YORK, NY (Business Wire) -- The nation's five largest homebuilders announced Thursday they plan to launch a new Internet web site for new home listings and related products and services.
 
The five builders are Centex Corp., D.R. Horton Inc., Kaufman & Broad Home Corp., Lennar Corp. and Pulte Corp. These builders sell some 100,000 homes annually.
 
The new site will operate as a separate business, independent of the builders. They are now looking for an e-business management team. The builders expect to advertise more than 200,000 homes on the new site. As other builders are added, that total will rise.
 
Site developers hope to take advantage of industry research that shows in the 12 months following a home purchase, consumers spend between $10,000 and $15,000 on related products and services for use around the home.
 
AGREEMENTS AFFECT HUNDREDS OF MOBIL STATIONS
IRVING, Tex. /PRNewswire/ -- Exxon Mobil Corporation has announced agreements of sale for most of Mobil's Texas marketing assets and supply arrangements involving some 430 stations.
 
The agreements, signed today, provide for the sale of Mobil's 49 percent equity interest and the assignment of Mobil's supply contracts in Austin, Dallas and San Antonio (about 318 stations) to Tetco, Inc.; the sale of Mobil's interests in seven Dallas area service stations, plus three additional outlets in the Fort Worth area, to Southland Corp.; and the assignment of Mobil's supply contracts (about 102 stations) in Houston and Bryan-College Station to Petroleum Wholesale Inc.
 
CONVENIENT CONVENIENCE STORES
TULSA, Okla. (Business Wire) -- NESCO Inc. has announced it will build ten Conoco branded convenience stores each year for the next three years.  The stores will primarily be located in the Dallas-Fort Worth Metroplex. The project will total from $36 to $45 million in revenues over three years, beginning this year.
 
LAYOFFS SAVE $17 MILLION
SAN ANTONIO, Tex. -- Christus Santa Rosa Healthcare Corp., faced with a $45 million loss, announced plans to lay off 388 people yesterday. According to the San Antonio Express Online, the layoffs represent about 12 percent of the company's 3,200-person work force. Under the current plan, Christus Santa Rosa expects to save more than $17 million a year from payroll deductions.
 
RIO GRANDE VALLEY HAS THE RIGHT ONE, BABY
MISSION, Tex. /PRNewswire/ -- The Pepsi Sports Park at Sharyland Plantation kicks off its ribbon cutting ceremony Friday, March 24, with opening festivities lasting until Sunday. The park features 100 acres of soccer fields, sand volleyball courts, baseball and football fields, batting cages, swimming pools, concession stands and a pro shop. Nearly 500,000 people are expected to visit the park during the first year of operation.
 
UPS LOGISTICS GROUP OPENS LAREDO CENTER
LAREDO, Tex. /PRNewswire/ -- The first phase of UPS Logistics Group's development has been completed.  The 32,000-square-foot facility will help the company increase its U.S.-Mexico-Canada distribution capabilities.  The logistics center will hold up to 88 trailers and include cross-deck capabilities, a border dispatch management system, warehousing/order fulfillment and advanced fire suppressant technology.
 
PEACE, LOVE AND PUBLIC HOUSING
WASHINGTON, D.C. -- A new nationwide survey of public housing residents shows 87 percent are satisfied or very satisfied with the services and overall living conditions that public housing authorities provide, HUD announced this week. The results are up from 75 percent last year.  Based on advisory scores, the majority of public housing authorities are in good or excellent condition.
 
Nearly 1.3 million low-income families live in public housing in about 14,000 developments across the nation.  The developments are operated by 3,200 housing authorities.  Another 3 million families live in privately owned affordable housing in about 30,000 HUD-assisted developments.
 
FROM CRACKERS TO CLINICS
HOUSTON, Tex. --  The Texas Medical Center plans to buy 21 acres at the southeast corner of Holcombe Boulevard and Almeda Road, increasing its original 135 acres to 700. The land is the former site of the Nabisco bakery. 
 
According to the Houston Chronicle Online, the undeveloped land will be used for employee parking and the bakery buildings will be renovated for storage and office use. The 50-year-old cookie and cracker bakery was closed last year because of slow demand.
 
ENERGY EFFICIENT AWARD EARNED
DALLAS, Tex. (Business Wire) -- The Environmental Protection Agency awarded Harwood International its Commercial Real Estate Energy Star Partner of the Year Award for the 2000 Energy Star Building and Green Lights Program. 
 
The award recognizes Harwood's contributions to the development and communication of energy-efficient technology benefits in commercial office buildings. The 185,000-square foot Harwood International Center Phase II was the first building in the nation to rate a perfect score of 99 on the ENERGY STAR energy efficiency benchmark and is the first in Texas to earn the ENERGY STAR Label for Buildings.
 
'WATER SMART' LANDSCAPES SAVE MONEY, WORK
HOUSTON, Tex. -- "Water smart" landscaping can be as simple as reducing the size of the area covered by grass or selecting native ground covers.
 
Water smart landscapes are friendly on the environment and friendly on the home gardner, says John Jacob, Texas Agricultural Extension Service specialist. n the long run, they cost much less than the typical lawn and are much less work to maintain.
 
Along the Texas Gulf Coast, homeowners have many beautiful plants from which to choose. A non-lawn landscape can look very lush, says Jacob. These landscapes can look just as manicured as any other landscape, depending on what the home gardner wants.
 
For information on designing a water-smart lawn, call 281-291-9252, and ask for the Water Smart Landscaping brochure. 
 
RURAL LAND CONFERENCE ATTRACTS RECORD
COLLEGE STATION, Tex. -- Tomorrow's Texas Rural Land Outlook Conference sponsored by the Real Estate Center at Texas A&M University will have a record attendance. More than 200 have registered.
 
Other Center seminars coming in 2000 include:
 
WHAT: 14th Annual Legal Seminar on Ad Valorem Taxation
WHEN: Aug. 30-Sept. 1
WHERE: Westin on the Riverwalk, San Antonio
COST: To be announced
 
WHAT: Commercial Real Estate Course
WHEN: Oct. 12-13
WHERE: South Texas College of Law, Houston
COST: To be announced
 
For information or registration, contact the Center's Registrar Margaret Benedict at 409-845-9691 
 Top of Page
 
March 21, 2000
 
NEW AFFORDABLE MORTGAGE FUNDS, DOWN PAYMENT ASSISTANCE AVAILABLE
 
CEDAR HILL, Tex. -- A $23.75 million mortgage revenue bond will allow more than 250 North Central Texas families to access low mortgage rates, low down payment and closing cost assistance. The funds came from an agreement between the non-profit organization North Central Texas Housing Finance Corporation (HFC) and Fannie Mae. 
 
The North Central Texas HFC program is available to qualifying, first-time, low- and moderate-income homebuyers wanting to live in the counties of Ellis, Erath, Hood, Hunt, Johnson, Kaufman, Navarro, Palo Pinto, Parker and Rockwall. Also included are the cities of Cedar Hill, Desoto, Duncanville, Lancaster and Waxahachie.  Programs vary for each of the covered counties and cities.
 
For more information, go to http://www.fanniemae.com/news/pressreleases/0682.html
 
NAR CHIEF ECONOMIST RESIGNS
 
Washington, D.C. -- After serving for one year, James F. Smith resigned from his position as chief economist for the National Association of Realtors to pursue other opportunities. NAR officials say the search for a new chief economist is underway.
 
BORDERS BONANZA
 
ANN ARBOR, Mich. /PRNewswire/ -- Borders Books and Music has announced it will open a new 25,000-square-foot store in Fort Worth. The store, located at the Chapel Hill Center, will be the second Borders to enter the area and is scheduled to open in September.
 
$310 MILLION SECURITIZATION COMPLETE
 
DALLAS, Tex. /PRNewswire/ -- Centex Home Equity Corporation has announced it has completed the securitization of $310 million equity mortgage loans through Centex Home Equity Loan Trust 2000-trust. This securitization is a continuation of CHEC's strategy to access public sources of capital and liquidity.
 
For more information, go to http://www.centex.com.
 
ACTIVE POWER EXPANDS OFFICE SPACE
 
AUSTIN, Tex. (Business Wire) --  By the end of March, Active Power Inc. of Austin will have moved into an additional 13,000 square feet of laboratory and office space at its headquarters on Stonehollow Drive. The move increases Active Power's square footage to 23,500. Plans are in the works to double the company's existing 15,000-square-foot manufacturing facility to meet growing demand.
 
NORTH RICHLAND MALL LOOKS RICH
 
NORTH RICHLAND HILLS, Tex. -- Burk Collins & Co. of Hurst has big plans to renovate and expand North Hills Mall. Collins bought the mall in November for $8.5 million with plans to increase square footage from 558,000 to 1.2 million. Plano-based Cinemark is close to signing a lease with Collins to develop an 85,000-square-foot, 20-screen theater at a cost of $20 million. According to Monday's Dallas Business Journal Online, a Jillian's entertainment complex and an Olympic-sized ice rink are also in the works for the mall. Total expansion costs are expected to near $100 million.
 
REAL-TALK GOES UPTOWN
 
DALLAS, Tex. (Business Wire) --  Harwood International has announced it will lease 3,200 square feet at 2602 McKinney Avenue to The Real-Talk Network.  The five-year agreement goes into effect April 1. Real-Talk will use the space for executive offices, as well as an Internet talk radio studio.
 
MOTHER CHURCH CRIES FOR ASSISTANCE
 
SAN ANTONIO, Tex. -- After nearly 300 years, Texas' oldest parish church is ready for a makeover -- a $15 million makeover, that is. According to Monday's Dallas Morning News Online, San Fernando Cathedral is the mother church of the San Antonio Archdiocese and has been the spiritual center of the city since it was founded in 1731. More than 900 baptisms, 100 weddings and 70 funerals take place here each year. Archbishop Patrick Flores has issued an appeal to community leaders to assist in the $15 million fund drive to restore and renovate the limestone church.
 
REKINDLING AN OLD FLAME
 
Dallas, Tex. --  Developers are working on plans to relight the 150-foot tall, three legged spire atop the Republic Bank which once boasting a light shining for more than 100 miles. According to Monday's Dallas Morning News Online, engineers have checked the 45-year-old building's old rocket to ensure it's still structurally sound. Renovations will cost almost $75 million.
 
PRINCETON MEADOWS READY FOR DEVELOPMENT
 
PRINCETON, Tex. --  Construction is ready to begin on a 1,183-acre multi-use development in Princeton. Princeton Meadows, a master-planned community located six miles east of U.S. 75 off U.S. 380, is expected to include more than 3,200 homes and retail and commercial development. According to the Monday's Dallas Business Journal Online, the project will take about 20 years to complete.
 
TREC WANTS INPUT
 
AUSTIN, Tex. -- Real estate consumers, licensees, and any interested individuals are invited to attend the Texas Real Estate Commission's strategic planning process. The forums are part of its process for developing a biennial update of the agency's five-year strategic plan. TREC is encouraging the public to offer ideas regarding how TREC can best meet the needs of it constituents.  Planning sessions are held from 1 p.m. to 4 p.m. One was held today in Houston. The remaining sessions are:
 
Dallas: Wednesday, March 22, Greater Dallas Association of Realtors, 8210 N. Stemmons Freeway
Austin:  Monday, March 27, Texas Real Estate Commission Headquarters, Room 235, 1101 Camino La Costa

Top of Page

 
March 14, 2000
 
STEADY GROWTH, LITTLE INFLATION SEEN
WASHINGTON, DC /PRNewswire/ --  Steady growth and continued unemployment with little risk of serious inflation -- that's the latest Real Estate Outlook publication from the National Association of Realtors (NAR).
 
Dr. James F. Smith, NAR chief economist, forecasts a general slowdown in the housing market. He expects existing home sales to drop 6.7 percent this year to about 4.84 million. This is primarily the result of higher mortgage rates. NAR projects 30-year, fixed-rate mortgage rates to rise slowly during 2000, averaging 8.5 percent for the year. At the same time, adjustable-rate mortgages will average around 6.8 percent.
 
NAR forecasts housing starts will fall 11.1 percent this year to 1.49 million. New home sales are expected to drop 3.6 percent to 874,000 units.
 
GROCERY BUYS BLOCK OF DOWNTOWN HOUSTON
HOUSTON, Tex. -- Houston's first urban grocery store in years may soon be built. According to a copyrighted story in today's Houston Chronicle online, Randalls Food Markets has bought a city block in midtown Houston.
 
A wave of new apartment construction and townhomes in midtown Houston could provide customers for a Randalls store. The site is two blocks south of the Pierce Elevated.
 
MORE SUPERMARKET NEWS
SAN ANTONIO, Tex. -- San-Antonio based Handy Andy will buy the seven stores of Wuest Grocery Stores in Seguin, according to the San Antonio Express-News online.
 
The deal is expected to close next week.
 
HOUSTON JC PENNEY ON CLOSURE LIST
HOUSTON, Tex. -- The JC Penney store in Houston's Northwest Shopping Center is the only Texas store on a list of 39 anticipated closures released yesterday, according to Shopping Center Today online.
 
JC Penney officials announced earlier this year they will close 40 to 45 stores.
 
AUSTIN BOARD SUES A MEMBER
AUSTIN, Tex. -- The Austin Board of Realtors has filed suit against eRealty.com accusing the on-line real estate brokerage of trademark infringement. At the heart of the battle is the posting of the board's multiple listing service data on eRealty.com's web site, according to Inman News Features.
 
HOMESTORE.COM, NAR CREATE INTERNET PLATFORM
 
THOUSAND OAKS, Calif. /PRNewswire/ -- Homestore.com Inc. and the National Association of Realtors (NAR) intend to develop the Realtors Electronic Transaction Platform, an on-line system integrating the essential steps in the Internet homebuying process.
 
The Realtors Electronic Transaction Platform will provide a one-stop on-line suite of tools, technology and expertise to allow consumers and real estate professionals to access as many as 20 separate elements of the real estate transaction.
 
Real estate represents $1.5 trillion of the U.S. gross domestic product -- the single largest market sector. Various elements of real estate deals generate $90 billion in fees annually.
 
HUD HELPS ELDERLY, DISABLED LIVE AT HOME
WASHINGTON, DC /PRNewswire/ -- The Department of Housing and Urban Development today awarded $5.2 million in grants to help more than 5,500 low-income elderly people and people with disabilities living in HUD-subsidized housing get health care, meals and other support services.
 
Texas will receive $312,804 in grants.
 
DOLLAR RENT-A-CAR COMPLETES TEXAS PURCHASES
TULSA, Okla. /PRNewswire/ -- Dollar Rent-A-Car announced today it has closed the purchase of all the Dollar locations in Texas formerly operated by its licensee, JFC Automotive Rental Group. A purchase price was not announced.
 
Dollar bought seven in-terminal locations at airports in San Antonio, Corpus Christi, Brownsville/South Padre Island, Harlingen, McAllen, Midland and Abilene. Nine other rental locations were part of the transaction.
 
Dollar has 430 world-wide locations in 26 countries operating a fleet of 97,000 vehicles.
 
DENTAL OFFICE DEVELOPER COMES TO TEXAS
ATLANTA, Ga. /PRNewswire/ -- HarborDental announced today it has opened a southwest regional office in Plano as part of an overall national expansion program.
 
HarborDental Properties of Norcross, Ga., builds state-of-the-art dental facilities called The Dental Commons, four private dental suites leased to individual dentists.
 
HarborDental is looking at several Texas sites in Dallas, Houston, Austin and San Antonio.
 
NAHB SUES OVER WETLAND RULES
WASHINGTON, DC -- The National Association of Home Builders (NAHB) has filed suit charging the U.S. Army Corps of Engineers new and modified nationwide permits have no rational basis. NAHB also says the new rules go beyond the agency's authority and will result in a bloated bureaucracy.
 
NAHB spokespersons say serious delays on public and private projects will result from the costly, complex and unnecessary wetlands regulations.
 
zipREALTY.COM EXPANDS TO DALLAS
BERKELEY, Calif. (Business Wire) -- zipRealty.com, the first nation-wide Internet-based real estate brokerage, expanded into Dallas on March 12. The expansion brings to seven the total metropolitan areas served.
 
For more information, visit http://www.zipRealty.com.
 
MEETING SET TO DISCUSS WICHITA RIVER WATERSHED
VERNON, Tex. -- Landowners with property in the Wichita River Basin can learn about a state study on brush management and water yields at a March 30 meeting at the Benjamin Community Center. The meeting begins at 7 p.m.
 
REAL ESTATE CENTER SEMINARS FOR 2000
WHAT: Appraisal of Refineries and Petrochemical Facilities for Ad Valorem Taxation
WHEN: March 21-23
WHERE: San Antonio
COST: $485 in advance, $500 at door
 
WHAT: Tenth Annual Outlook for Texas Rural Land Markets
WHEN: March 24
WHERE: College Station
COST: $100
 
WHAT: 14th Annual Legal Seminar on Ad Valorem Taxation
WHEN: Aug. 30-Sept. 1
WHERE: Westin on the Riverwalk, San Antonio
COST: To be announced
 
WHAT: Commercial Real Estate Course
WHEN: Oct. 12-13
WHERE: South Texas College of Law, Houston
COST: To be announced
Top of Page
March 10, 2000

NEW OFFICE TREND: CATERING TO TECHNOLOGY
DALLAS, Tex. -- Demand is growing for office buildings with extraordinary infrastructures especially suited to housing switching equipment of telecom companies, says Clint Conatser, director of corporate communications for the Dallas INFOMART.
Another emerging trend is for real estate developers to outfit their office buildings with high bandwith. The INFOMART is bringing bandwith providers and users together in the same facility.
Four new telecommunications service providers recently leased space at the INFOMART. These include Collacation Solutions, Metromedia Fiber Network, Prism Communication Services, Inc. and Time Warner Telecom. An existing resident, Verio, Inc., has expanded.
New fiber optic providers -- Metromedia Fiber Network, Nextlink Communications and Time Warner Telecom -- bring to 11 the total number of telecommunications companies connecting their national fiber networks to INFOMART's bandwidth providers and users.
INFOMART is a 1.6-million-square-foot building housing more than 110 technology companies. It is more than 90 percent occupied.
For more information, visit http://www.infomartusa.com.
 
TAR URGES INTERNET CAUTION
AUSTIN, Tex. -- The Texas Association of Realtors (TAR) says inaccurate or out-of-date real estate information on the Internet is a growing problem for consumers. TAR cites the problems as:
-- Inaccurate sales data. Using out-of-date sales data may not give a true picture of a home's market value.
-- For-sale-by-owner listings. Information is often incomplete.
-- Stolen property listings. Property information is copied from an MLS, then identifying information is stripped out (such as listing agent) and then reposted on a non-Realtor website. Stolen information is usually not updated
.
LONE STAR BUYS BELLVILLE TUBE
DALLAS, Tex. -- Lone Star Technologies will buy Bellville Tube Corp. for $14.5 million, according to the Dallas Business Journal online.
Bellville Tube Corp. is a privately held pipe manufacturer in Houston. Lone Star is a holding company whose subsidiaries include Lone Star Steel Co., an oilfield pipe manufacturer.
 
ASHI STANDARDS RAISE THE GRADE
MEMPHIS, Tenn. (Business Wire) -- The American Society of Home Inspectors (ASHI) revised their year 2000 standards, elevating the criterion for the entire industry.  The standards were revised to enhance the technical and reporting requirements of home inspectors who follow them.  Company officials say they are intended to provide clients with a more thorough understanding of a property's condition and to ensure that more essential information is reported.
 
COMMUNICATIONS COMPANY LEASES OFFICE SPACE
DALLAS, Tex./PRNewswire/ -- FairPoint Communications Corp., of Charlotte, N.C., has announced it will lease approximately 116,410 square feet of office space in the Las Colinas/Freeport submarket.  FairPoint Communications plans to establish a regional operations center in the space.  The two-story building is completely leased.
 
NOLATO TEXAS TO OCCUPY ENTIRE BUILDING
FORT WORTH, Tex. (Business Wire)-- Nolato Texas, Inc. has announced it will lease 96,283 square feet in the Alliance Commerce Center 2 building.  Nolato Texas originally leased 39,884 square feet in the building. Currently employing 140 people, Nolato Texas will add 160 jobs by 2001.
Nolato supplies plastic components to mobile telephone manufacturers.
 
INTERWOOD IN MIDST OF GROWTH
HOUSTON, Tex. -- An 80,000-square-foot office building will be constructed on 10.5 acres near the George Bush Intercontinental Airport.  The project, Offices at Interwood, is being developed by a Midway Cos. partnership and is one of several buildings planned in the Interwood Business Park.  According to a copyrighted story by Ralph Bivins in the Houston Chronicle online, Administaff personnel management company will occupy half of the new building.
Other new projects for Interwood include a 180,000-square-foot Alliant Foodservice distribution center and a 16,000-square-foot office building for the Houston's Fireman's Relief and Retirement Fund.
 
POWER EXPLORATION ACQUIRES PROPERTY
FORT WORTH, Tex.(Business Wire) --Power Exploration, Inc. has acquired 10.5 acres of land on the east side of Fort Worth.  The land is part of an agreement that will give Power Exploration complete ownership of Lincoln and its real estate holdings.  Closing is expected to take place sometime in March.
 
CONSERVATION VERSUS CONSTRUCTION
AUSTIN, Tex. --  The City of Austin is looking to preserve 60 acres of southwest Austin property known as the Friesenhahn tract.  The land, across from Barton Creek Square Mall, is considered to be some of the city's most desirable by environmentalists and developers. 
According the Austin Business Journal Online, Austin's City Council should reach a decision sometime in April.
 

 Top of Page

March 07, 2000

$16.9 MILLION FOR COLLIN COUNTY
McKINNEY, Tex. -- More than 280 families living in Collin County will have access to low mortgage rates and down payment and closing cost assistance thanks to a $16.9 million mortgage revenue bond agreement. The agreement is between the non-profit Collin County Housing Finance Corporation and Fannie Mae.
Bond proceeds will finance 7.8 percent, 30-year fixed-rate mortgage loans and down payment and closing cost assistance grants equal to 3 percent of the loan amount.
Prospective homebuyers can call 800-7FANNIE, Monday through Friday, 9 a.m. to 5 p.m. EST.
 
SAN MARCOS LIMITS DEVELOPMENT
SAN MARCOS, Tex. -- Development on more than 10,000 acres of ecologically sensitive land controlled by San Marcos has been limited through a new city ordinance passed Monday, reports the Austin American Statesman.
The new law limits the amount of land covered by rooftops and pavement to 25 percent of lot size within developments of five acres or more over the Edwards Aquifer recharge zone.
 
HOTEL ROOM SALES PRICE HITS RECORD, VOLUME FALLS
MINEOLA, NY -- The average 1999 sales price for a hotel room in the United States was $142,000 -- a record. Meanwhile, 1999 had half the total hotel room sales recorded in 1998.
These statistics were released this week by HVS International, a global hospitality consulting and hotel appraisal firm.
"Rather than buying properties simply to increase the size of their portfolios, companies are now buying for more strategic purposes," says Stephen Rushmore, HVS president.
Berkshire Hathaway and U.S. Realty Advisors spent the most buying hotels in 1999.
To order copies of the 1999 Hotel Transactions Survey, call Joan Raffetto at 516-248-8828, ext. 231 or send an e-mail to jraffetto@hvsinternational.com.
 
WHEN WILL SMALLER TEXAS CITIES SEE AN OFFICE BOOM?
COLLEGE STATION, Tex. -- Big Texas cities -- Austin, Dallas-Fort Worth, Houston and San Antonio -- are busy building new office space. But smaller markets like Beaumont, Corpus Christi, El Paso, Lubbock and McAllen are not.
Researchers at the Real Estate Center have examined when new, top-quality office buildings are likely to appear on the skylines of second-tier Texas markets.
Analysis of building and land costs suggests that office rents must rise significantly in these markets before new development is feasible. Current rental rates for new office space in the smaller cities range from $12 to $18 per square foot.
New investment-grade development would require rents greater than $23 per square foot -- even if land can be acquired at a minimal $6 per square foot. While some land may be available at that price in Beaumont, El Paso and Lubbock, land costs are higher in Corpus Christi and McAllen -- and that translates into required rates in the $25- to $26-per-square-foot range.
 
MORE TEXANS RECEIVE LICENSE
AUSTIN, Tex. -- New real estate licenses were issued to 13,275 Texans during 1999. That's up from 12,813 in 1998, says the Texas Real Estate Commission (TREC). Individual license renewals totaled 53,974.
According to TREC, the number of real estate salespersons grew from 68,797 to 69,383 -- reversing an eight-year downward trend. Texas had some 110,000 licensees at year's end, about what it had when the year began.
About 90 percent of the more than 23,000 examinations administered were for salesperson exams. Less than half of sales and inspector candidates pass the exam on first attempt.
 
TREC SEEKS STRATEGIC PLAN INPUT
AUSTIN, Tex. -- Three public forums in March will provide an opportunity for comments on the Texas Real Estate Commission's strategic plan for 2001 to 2005.
The forums will be held from 1 - 4 p.m. on the following dates.
-- Mar. 21. Houston Association of Realtors, 3693 Southwest Freeway, Houston.
-- Mar. 22. Greater Dallas Association of Realtors, 8201 N. Stemmons Freeway, Dallas.
-- Mar. 27. Texas Real Estate Commission, 1101 Camino La Costa, Austin.
 
ESTATE PLANNING SEMINARS COMING
COLLEGE STATION, Tex. -- A two-day seminar designed to help Texans reduce their estate taxes and make effective estate planning decisions will be offered at four locations in March and April.
Seminars will be held Mar. 22-23 at the Best Western Regency Hotel in Lubbock; Mar. 29-30 at the Texas Society of Certified Public Accountants Training Facility in Fort Worth; Apr. 13-14 at the Brazos Center in Bryan; and Apr. 20-21 at the Thompson Conference Center in Austin.
Among the topics covered will be wills, living trusts, estate tax deferral, gifts, property titles, treating beneficiaries fairly, estate planning for agriculture, corporations and partnerships, special farmland valuation, the family-owned business exclusion and property titles. Deferring estate tax payments, the role of life insurance and tax valuation rules also will be covered.
Seminars run from 9 a.m. to 4 p.m. each day. Registration is $100 and includes handouts, refreshments and lunch each day. To register, call Wayne A. Hayenga or Sharon Wehring-Forster at 979-845-2226.
 
TAKING THE @#$&* OUT OF HONKY-TONK
COLLEGE STATION, Tex. -- Last Friday's RECON set off alarms in a watch-dog security computer at TXU Electric and Gas because the Real Estate Center used the term "honky-tonk." TXU automatically screens all e-mail for "inappropriate subject matter" the computer-generated message said in telling why it refused to let company employees receive RECON. The computer deemed that edition of RECON as "inappropriate for the business environment."
The "honky-tonk" reference was in a news brief announcing a new 190,000-square-foot entertainment complex in downtown Dallas to be known as Gilley's Dallas Texas. The original Gilleys in Pasadena, Texas, was known as the "world's greatest honky-tonk."
Said the Center's Director of Communication David S. Jones, "In addition to having no personality, the TXU computer can't spell either. The disparaging word the computer was trying to keep employees from seeing is spelled with an 'e.' Honky-tonk is not."
If you were offended by that issue of RECON, we sin-cerely apologize.
 
2,000 ATTEND FORT WORTH HOMEBUYERS' CLINIC
FORT WORTH, Tex. -- If the enthusiasm demonstrated at Saturday's homebuyer clinic in Fort Worth is any indication, the real estate industry and builders are in for a busy summer. An estimated 2,000 would-be buyers attended the one day event.
Dr. Jack C. Harris, Real Estate Center research economist, was master of ceremonies and speaker at a homebuyers' clinic Saturday in Fort Worth. The Center was one of the event sponsors. Others were HUD, WBAP, the Fort Worth Star-Telegram and FannieMae.
 
 Top of Page

February 29, 2000

U.S. HOME VALUES UP 6.5 PERCENT IN 1999

ANAHEIM, Calif. /PRNewswire/ -- A nation-wide real estate information company reports U.S. home values increase more than 6 percent in 1999, continuing a trend of the last three years.

A year-end analysis by First American Real Estate Solutions put Los Angeles at the top of the value increase -- nearly 14 percent. While the numbers show national home values did match the 1998 record, increases continue to outpace the general inflation rate. U.S. home values are now 23.6 percent higher than in the early 1990s.

EXCO BUYS VAL VERDE PROPERTIES

DALLAS, Tex. /PRNewswire/ -- EXCO Resources Inc. announced today it has bought 21 gas-producing wells from an undisclosed seller. The purchase price was $12.2 million.

EXCO is an oil and gas acquisition, exploitation, development and production company headquartered in Dallas.

GOLF COURSE, DEVELOPMENT SET FOR STERNER RANCH

AUSTIN, Tex. -- Plans for a 3,000-acre residential and commercial development, including an 18-hole golf course, have been unveiled for Sterner Ranch west of Austin, according to Monday's online edition of the Austin Business Journal.

REDEVELOPMENT ON OAK LAWN

DALLAS, Tex. -- Redevelopment of the 80-year-old Highland building on Oak Lawn Avenue into high-rise apartments or condominiums is planned, according to the Dallas Business Journal.

Phoenix Property Co. paid about $2.5 million for the building, says the report. The Oak Lawn area has experienced a recent boom in upscale townhomes.

OUTLET SHOPS ATTRACTED TO BELTWAY 8 SPACE

HOUSTON, Tex. -- Warehouse space along Beltway 8, once occupied by light industrial firms, is attracting factory outlet shops with low rental rates and easy accessibility, reports Monday's online Houston Business Journal.

Among the shops already there -- or coming soon -- are familiar names like Chantal Cookware, Whirlpool, Luggage & Leather, HomeSource and TSA, an outlet for Hewlett Packard.

NEW WEBSITE FOR HOME IMPROVEMENT

SAN FRANCISCO, Calif. (Business Wire) -- CornerHardware.com officially launched its new website today for the $400 billion home improvement industry.

The site can be accessed at http://www.cornerhardware.com.

NEW BUILDINGS FOR ALLIANCE

FORT WORTH, Tex. -- The building boom around Fort Worth Alliance Airport continues. According to today's Dallas Business Journal, the Hillwood company plans two new speculative industrial buildings at the airport totaling 650,000 square feet.

The report quotes Hillwood senior Vice President Bill Burton saying the company would like to add 1.2 to 1.5 million square feet this year.

EXXON BREAKS GROUND FOR BAYTOWN REFINERY

IRVING, Tex. /PRNewswire/ -- ExxonMobil today announced the start of construction of its new delayed coker at the Baytown refinery. The facility will enable ExxonMobil to better process heavy crude oil feedstocks, including Maya crude, which will be delivered to the refinery by Petroleos Mexicanos (Pemex).

The refinery processes some 465,000 barrels of crude oil per day. The new facilities are expected to be completed in the second half of 2001. For more information on ExxonMobil, go to http://www.exxon.mobil.com.

1,800-HOME DEVELOPMENT PLANNED

DALLAS, Tex. -- The CountryLakes is a 640-acre residential community planned for south Denton County, according to today's Dallas Morning News online.

The developer is Clyde Jackson of Wynne/Jackson Inc. Almost 1,800 homes are planned for the site at I-35W and Crawford Road about halfway between Fort Worth and Denton.

CROSS TIMBERS SELLING $25.3 MILLION IN PROPERTIES

FORT WORTH, Tex. /PRNewswire/ -- Cross Timbers Oil Company announced today it will sell $25.3 million in oil- and gas-producing properties located primarily in Lea County, New Mexico, to Falcon Creek Resources Inc. of Denver.

A company press release can be found at http://www.crosstimbers.com.

REMINGTON-HALL IN LARGER OFFICES

DALLAS, Tex. /PRNewswire/ -- Remington-Hall Capital Corporation, a real estate investment firm, has moved its corporate headquarters to larger offices. The new offices are at 2920 Canton St. in Dallas.

UNIVISION BUYS RIVERWALK PROPERTY

SAN ANTONIO, Tex. -- According to today's San Antonio Business Journal online, Univision has bought nearly 3.3 acres on the famed riverwalk next to its existing television station. Plans for the site were not announced.

SPEC OFFICE SPACE PLANNED FOR NEARLY 20 AUSTIN ACRES

AUSTIN, Tex. -- A partnership of Austin investors has bought 19.5 acres in north Austin, according to Monday's Austin Business Journal. Yancey Hausman & Associates plans to develop and lease two 120,000-square-foot buildings for the owners.

Other development in the area already includes the Park Central subdivision, a Springhill Suites hotel and apartments.

 Top of Page

February 22, 2000

BYE-BYE 409, HOWDY 979

 COLLEGE STATION, Tex. -- A new area code -- 979 -- is now in effect for the Real Estate Center, Bryan, College Station and Texas A&M University.

 Either 979 or the previous area code -- 409 --  will work for the present. After Aug. 5, however, only 979 can be used.

 $1 MILLION FOR COLONIAS IMPROVEMENTS

 WASHINGTON, DC -- Webb County will receive a $1 million grant to improve living conditions for economically distressed families living in the colonias. The grant is from the U.S. Department of Housing and Urban Development (HUD).

 About 14,000 Webb County residents are without running water or sewer service. The HUD funds will be used to construct indoor bathrooms and rehabilitate and reconstruct housing.

 WATER WORKSHOP OFFERS SOLUTIONS

 SAN MARCOS, Tex. -- Experts will be putting the pieces of the Texas water puzzle together for city and county officials and others at a workshop Apr. 19 at the San Marcos Activity Center.

 The workshop is designed to provide leaders with information needed to make effective management decisions concerning their communities' future water needs.

 Early registration is $40. After Apr. 1, the fee is $50. For more information, call 512-393-2120 or 830-278-9151.

 HEALTHCARE SYSTEM SLIMS DOWN