Real estate experts discuss the draw to Texas in digital summit

Texas’ top developers and investors discussed the post-COVID-19 real estate market and trends during the Bisnow Digital Summit on June 23.

During five sessions throughout the day, industry experts delved into the vision for Texas’ future, what makes Texas so attractive to businesses, the future of mixed-use development, office tenants and multifamily development.

Experts had a lot to say about what makes Texas a good place to relocate. Matthew Dawson, the CEO of Utility Global, moved his company from the mountains of Utah to Texas because of the talented workforce and the numerous investors in Texas, he said. David Hayes, the managing partner of BP Ventures, pointed to California’s higher expenses and that the quality of life is better in Texas.

Craig Hall, founder of the Hall Group, said his projects have him working with out-of-state city leaders, and it’s “refreshing” to work with Texas attitudes.

“I'm from the Midwest, and I have a foot in the Midwest, and I will tell you, Texas is so superior in terms of attitude,” he said.

However, the state does have some shortcomings to address, experts said. The main issues Texas needs to solve to ensure business success are the power grid, education, infrastructure and transportation, according to Larry Heard, the CEO of Transwestern, a real estate and development company.

“By 2050 Texas is going to double in population, so we're going to go from 30 million people to 60 million, which is fabulous, but ... we are going to have to be thoughtful about that kind of growth,” he said.

Despite these issues, experts don’t see the growth in Texas stopping any time soon.

“The characteristics that are there that are generating it continue to be there,” said John Stephens, the chief financial officer of AT&T.