With the goal of helping apartment hunters become more selective and astute in their quest for luxury rentals, prominent and well-respected Texas real estate developer Marcus Hiles gives advice on what to look for in their next potential home. As Chairman and CEO of Western Rim Property Services, Hiles has been developing upscale rental communities that feature luxe, well-equipped units since 1990. With over 26 years of real estate investment and developing experience, Hiles has learned firsthand which amenities transform a good community into a great one, and he is proud to reveal the modern, enticing amenities of Western Rim’s distinguished Mansion brand properties.
San Antonio’s expansion has been like never before, adding over 8,000 new jobs and $1.1 billion worth of revenue in 2015 alone. The San Antonio Economic Development Foundation forecasts this to sustain for many years, as manufacturing, healthcare, and information technology sectors are projected to keep flourishing. Such an uptake in growth has caused a new need for rental options that Marcus Hiles is excited to meet. The upcoming apartments will be established in scarcely populated but fast-growing city areas. This will make them ideal for all kinds of residents who seek interesting rental options.
Dallas developer and entrepreneur Marcus Hiles is an established “subject matter expert” when it comes to discussing the need for rental communities across Texan metro centers. The latest U.S. Census Bureau figures highlight patterns of massive growth, with Lone Star State adding 1,183 residents every 24 hours throughout 2016. In one year, 432,957 new residents moved in, and the state’s housing infrastructure is failing to keep up. Only 30,000 units were delivered last year, revealing a massive shortage of available housing and leaving approximately 402,957 residents in a frenzy for a place to call home. That is, unless they have secured a spot within one of the recently completed developments in the state, such as Hiles’ Western Rim developments, near the state’s biggest cities.
Almost immediately after the opening ceremony of Klyde Warren Park, the neighborhoods surrounding the deck park underwent dramatic changes, recalls Marcus Hiles. Since late 2012, rental rates on adjacent streets have more than doubled, with many new high-rises overlooking the open space set to drive prices even higher. In the bordering Arts District, prices have jumped from $19 to $25 per square foot, and on the north side of the park rates have increased an amazing 64 percent, from $22 to $36 per square foot. Only 5.4 acres in size, the influence of the park has been especially impressive when paralleled with the size of Chicago’s Millenium Park (24.5 acres) and New York City’s Central Park (843 acres). “I don’t think anyone could have predicted the impact,” said Phil Puckett, the executive vice president of the world’s largest commericial real estate firm, CBRE. “Having worked in the downtown and uptown markets for 25 years, I have never seen anything like it. Klyde Warren Park has become the city’s epicenter.”
Throughout his career, Marcus Hiles has volunteered countless hours, purchased technology and software upgrades for many schools across Texas, and funded both public and private K-12 and college education grants, aiming to help kids reach their full potential. He has served with career and job placement services for youths and university students, and paid for the construction of two large churches in Texas and in his home state of Massachusetts. His charitable work furthers his mission to lessen the hardships faced by economically disadvantaged women and children, and Hiles extends this mindset into his companies, Western Rim Property Services and Newport Classic Homes. Both offer employees mentoring and professional development, ensuring their personal growth and career advancement; and in each of his communities, Hiles includes amenities that build a healthy and productive neighborhood experience which promotes a prosperous future for all residents.