As just one of five states that tax neither corporate nor individual income tax, Texas is quickly becoming a land of post-recession investment opportunity. The low cost of living and doing business in the state regularly attracts new investment in both the housing and business sectors—a fact that continues to have a positive impact on outlooks for real estate in College Station and its surrounding areas.
The viability of commercial development in the state was recently confirmed when Kitchell, Arizona’s third-largest construction company, opened an office in Austin and announced plans to become a major contractor specialties contributor to the Texas health care sector. The company, which is headquartered in Phoenix, Arizona, is noted for its capabilities in constructing medical facilities, having worked on the Phoenix Children’s Hospital, Chandler Regional Medical Center, and University of California San Diego Jacobs Medical Center, among others.
According to Austin Business Journal, the company got its start in the Texas scene by building the 143-bed Scott & White Hospital in College Station, and an adjacent clinic and medical office building. Currently, the contractor is still engaged in work in the area, having taken on the remodeling of the Scott & White 1700 Clinic.
News of Kitchell’s involvement in local projects comes alongside a planned expansion of the Blinn College campus into what is currently the Lynntech Science Park. Additionally, the developers of a proposed full-service boutique hotel and conference center have also begun community talks to refine the design of the new facility—which is just one of nine similar developments in the Bryan-College Station metropolitan area.
With the brisk pace of these new commercial developments, it isn’t unlikely that residential development will experience a similar upheaval. As a signal of an increasingly positive economic outlook, the increasing volume of commercial projects will likely draw more people to area.
In fact, tech companies are eyeing Texas as a prime destination for onshore business process outsourcing, and will likely bring more than a few new jobs along with them. Already, some have expressed their interest in relocating to the Bryan-College Station area to take advantage of the abundance of technically skilled individuals graduating from Texas A&M University, which has ties to NASA, the National Institutes of Health, and the National Science Foundation.
To help newcomers to the city find a place to stay, College Station real estate companies, like Traditions Realty Team, are investing a lot of time and effort into providing clients with top-of-the-line property buying or selling experiences. Drawing from extensive knowledge of the area, such companies have built impressive portfolios and link to the state’s MLS to provide clients with a wealth of choices at reasonable prices.
(Source: Arizona giant wants to be major builder in Austin, other Texas markets, Austin Business Journal, June 2, 2014)