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  • 10/14/2020

    COVID-19’s Effect on Site Selection

    This year has changed the way we do almost everything. We don’t yet know how long the COVID-19 pandemic will continue to demand safety protocols that were simply unheard of in our country just nine months ago. In the meantime, we are seeing a trend away from density in some areas and industries, with companies taking a fresh look at the benefits of suburban locations.
     
    More real estate for a smaller investment has always been at the top of the list of suburban advantages, but now there’s even more at stake. People are seeking workplaces where they have more physical distance and less reliance on crowded elevators and public transportation or long commutes and massive parking garages.
     
    John Chang, senior vice president and national director of Research Services for Marcus & Millichap Real Estate Investment Services, recently discussed this topic as it relates to the Dallas Metroplex with the Dallas Business Journal. He noted that people from the urban core are relocating to the northern suburbs (which include Fairview) for more space, and some companies are following suit.
     
    Working from home proved more rewarding than expected for some individuals who were surprised to learn how much more productive — and happy — they could be without the traffic, cubicles and other hassles of reporting daily to a high-density office building. Some who were subsequently given the opportunity to work from home long-term decided all they needed was a dedicated home office with more space than their current home, a trend that contributed to a healthy residential real estate market in many suburban areas.
     
    Likewise, employers in some industries discovered that their companies’ success did not require a fully onsite workforce in an expensive urban commercial district.
     
    That’s where the hidden gem that is Fairview, Texas enters the picture. Situated within minutes of major thoroughfares, a diverse and thriving residential market, and one of the nation’s top talent pools, Fairview offers the whole package: a community that has been thoughtfully planned for individuals who want to live near their workplace as well as for companies that want to locate near their workforce at a fraction of the cost of an urban site.
     
    Our Commercial Planned Development District combines urban amenities like a walkable commercial area, top retailers and popular restaurants with the outstanding school districts, lower real estate costs and other advantages typically associated with a suburban environment. It’s a setting that offers both employers and employees what they value most.
     
    In the district’s Fairview Town Center, companies can offer their employees a convenient location with ample free parking, great restaurants and major department stores a few steps away. We currently have a number of available spaces of various sizes, as well as nearby sites for ground-up development. In addition, Lincoln Property Company’s new two-story, 100,000-square-foot Fairview Office Center is under construction and a 242-acre mixed-use development by Billingsley Company is planned north of the Town Center.
     
    If your business or company is in the market for a workplace that provides room to spread out in a great location without breaking the bank, check out Fairview. In a year that has been filled with surprises, you deserve a pleasant one.
     
    Dave Quinn, Fairview Economic Development


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