Vibrant Job Market Builds Need for Single-Family Developments
Strategic incentives have brought new employers and jobs to Irving. Now, city leaders expect quality homes will convert commuters into residents.
Single-family home construction is up 14.7 percent since 2008. This figure translates into more than 5,200 new Irving homes; 1,500 of which have been built in the past two years. Over the past two years, City Council has approved construction of 1,500 future homes contributing to one of the city’s greatest growth spurts in recent history.
Irving's ideal location in one of the fastest growing regions in the nation coupled with aggressive recruitment strategies have brought more than 3,400 jobs to the city since 2012. While city leaders work to bring new jobs to the city, a simultaneous effort is in motion to make permanent residents out of the growing number of commuters.
Understanding the correlation between job creation and the need for quality sustainable housing, Irving’s Assistant Director of Development Services Steve Reed says the key is pairing new business with new homes.
"It's certainly part of our economic development programming to make sure that when we recruit a business that we also provide the housing opportunities for those employees," Reed said.
Greater Irving-Las Colinas Chamber of Commerce Director of Economic Development Don Williams credits smart incentives for bringing more jobs and commuters to the city.
"Some of [the incentives] will be financial, some of them could be quality of life type issues," Williams said. "One that we did recently was even doing a celebration for the new employees coming into the city with the mayor and city manager — we're really working to further build our community."
In recent years, substandard multifamily units have been demolished to make way for new, sustainable single-family homes that will house every type of commuter regardless of target price point.
"From the CEO to the newest entry level person into the company, we have everything from the low $100s to the million dollar plus homes,” Williams said. "Whatever you want we offer."
Since the beginning of the fiscal year, 337 new home permits have been issued at a valuation of $118 million. Examples of newly completed development include Riverside Village, located at the northwest corner of Riverside Drive and La Villita Boulevard; and Emerald Valley, located at the southeast corner of Ranch Trail and Home Depot Drive.
Posted June 28