Business Is Booming

This neighborhood pushes Dallas atop list of America’s boomtowns

The Arts District is in Dallas' most booming ZIP code.

Photo courtesy of Dallas Arts District

Dallas is one of the best-run cities in America and was among the quickest to recover from the housing crisis. Now it can add another accolade to its list: Big D is one of the country's top three boomtowns.

Realtor.com analyzed projected job creation, household formation and new construction, and five-year projected household growth by ZIP code to come up with its top 10 list. The Dallas ZIP code 75201 is ranked third in the country, behind Gilbert, Arizona (85297), and Los Angeles, California (90012).

Households in 75201 are forecasted to grow by 14.9 percent over the next five years. Dallas County is expected to see more than 16,000 new housing starts and 40,000 new jobs created in 2016, 3.8 times and 4.5 times more, respectively, than the average of the top 100 counties in the country.

Not only that, but Realtor.com points out that this Dallas ZIP code is a magnet for millennials. Encompassing downtown, Uptown, the Arts District, and Dallas Farmers Market, the area boasts attractive parks and trails, shopping, restaurants, and proximity to major employers. Urban condos, lofts, and townhomes are popping up everywhere.

“The strength of the residential real estate market is closely correlated to growth in jobs and households,” says Jonathan Smoke, Realtor.com's chief economist. “The good news for these markets is that these growth factors have already started to translate into new construction. At the same time, it may be a year or so before some markets on our list start to see an increase in inventory. If anything, this is a road map for where builders should be thinking about where to break ground next.”

If we have the space, building would be smart. Housing inventory is down this year, and buyers are scrambling to find their next ideal home, which would preferably be located in 75201, it seems.

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RIP Pete

Dallas businessman and former Schepps Dairy owner Pete Schenkel dies

Courtesy photo

Pete Schenkel

Dallas businessman Pete Schenkel, a philanthropist and former owner of Dallas-based Schepps Dairy, passed away at his Highland Park home on November 27 while in hospice care.

Born and raised in South Dallas where he worked on his father's dairy farm, Schenkel worked his way up from a Schepps Dairy deliverer to become an owner of the company in 1987. He went on to serve as President and owner of Southern Foods, which later sold to Suiza Foods and became Dean Foods, for which he also served as president and board member.

A statement from the city of Dallas says that Schenkel "leaves a legacy where he will be remembered for sharing his success with others and for his steadfast commitment to serve with pride and humility. Pete was unwavering in his dedication to making Dallas one of the safest large cities in the United States and was instrumental in promoting our economic growth and social vibrancy. We will strive to carry on his legacy by continuing to make Dallas a better place for all."

Founded by Harmon "Hymie" Schepps in 1942, Schepps Dairy traded hands and emerged from a bankruptcy under the primary ownership of Schenkel, who was Schepps' business partner. In 2000, the company was acquired by Suiza Foods Co., which then merged with Dallas-based Dean Foods the following year.

Schenkel was also involved in Dallas politics from the '80s to the '00s, both with sought-after endorsements as well as working on campaigns for mayoral candidates such as Jack Evans and Ron Natinsky.

In 2017, he was honored with an award from the NFF Gridiron Club for his role in helping bring football back to the Cotton Bowl on New Year's Day. He fought to keep the annual Texas-Oklahoma rivalry game at Cotton Bowl Stadium and has been the key negotiator in keeping the game there ever since.

Schenkel served on many influential boards that helped shape Dallas and North Texas, including chairing the Dallas/Fort Worth International Airport Board of Directors and the Methodist Health Care Foundation. After retiringm he remained active in nonprofit circles, helping direct a charitable fund with his wife, the Pat and Pete Schenkel Charitable Trust. He also served on the board of the Dallas Blue Foundation, which provides financial assistance to families of Dallas police officers killed or wounded in action.

His multiple awards and commendations including receiving the 82nd annual Linz Award for civic service in Dallas in 2011, as well as a Russell H. Perry Award from Dallas Baptist University, which lauded Schenkel for adhering to the highest ethical standards and being loyal to and respectful of friends and customers, as well as his modesty, shying away from the spotlight and shining it on others instead.

He's survived by his wife Pat, three children and seven grandchildren.

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