The real estate market fluctuates on a constant basis. Dallas real estate developer, entrepreneur, and investor Marcus Hiles has spent his career researching and watching trends develop on the housing market. Through ebbs and flows, highs and lows, Marcus and his real estate ventures have weathered changes in the market, capitalizing on trends and building an empire worth several billion dollars. Marcus is the founder and serves as the CEO of two prominent real estate development firms in the Dallas/Fort Worth metropolitan area, Mansions Custom Homes and Western Rim Property Services.
Despite the housing market crash that began in 2006, there are strong signs of improvement, particularly in the luxury market. Several cities impacted by the real estate bubble bursting are experiencing tremendous growth across sectors. A recent study by Realtor.com suggests that Dallas, Texas is one of the hottest markets in 2016. The city of Waco follows closely behind. North Texas is a desirable place for businesses to develop, and as companies are attracted to the region, demand for upscale homes has risen dramatically. Favorable business tax rates have brought several Fortune 500 firms to the area, where they established regional offices or corporate headquarters. Their executives and business professionals have demanded a more luxurious lifestyle, and Marcus’ companies have catered to this demand.
Western Rim Property Services has built thousands of rental units for the upscale lease market. The company is responsible for developing or completing in excess of 20,000 units spanning Dallas as well as other cities like Houston, Austin, and San Antonio. The developments, in apartment buildings and condominium properties, are characterized by their luxurious appointments while maintaining affordability. The company works diligently to add value to the properties, charging half what other developments in the area command but giving residents access to amenities like fitness centers, swimming pools, spas, shopping, and pet-friendly facilities. As the highlight of each development, natural areas are incorporated into the layout. Marcus believes that having green space encourages a healthy resident population, creating a sense of community as residents mingle with each other in the outdoors.
On the high end of the ownership market, Mansions Custom Homes has emerged as the preeminent developer of modern masterpieces. Exquisite interior and exterior finishes are complemented by spacious rooms in the expansive houses, which are situated in some of Dallas’ most vibrant and most sought-after neighborhoods. Marcus targeted areas with good school systems and easy access to transportation corridors, purchasing land as demand skyrocketed. The homes Mansions creates are graced by forested areas and other green spaces, giving them a quiet country feel even in some of the most urban locales in the Dallas metro area.
Environmental stewardship is of central importance to both companies. Western Rim plants thousands of trees every year, and the natural spaces reserved in and around each development have been set aside for the enjoyment of future generations. Improved air quality is only part of the equation; each company adheres to green building and development practices to reduce the impact on the environment. The result is properties that are coveted by residents of the area, built to exacting specifications and adding beauty to the natural world they are situated in. As housing markets continue to grow and to demand a more upscale feel, Marcus and his companies are positioned well to capitalize on emerging trends, adding to their legendary successes.
