Snow In Texas

$215 million resort will bring world's longest indoor ski run to North Texas

If all goes according to plan, the Dallas suburb of Grand Prairie will have a grand new addition in 2018. Dubbed The Grand Alps, the $215 million development is an indoor ski resort and hotel that will sit on a massive, 350,000-square-foot property off Interstate 30 and Belt Line Road.

The City of Grand Prairie announced the news in an October 14 release, detailing the artificial winter wonderland that will soon await paying customers.

There will be beginner, intermediate and expert ski runs, in addition to ice climbing, luge track and Olympic half pipe.

A snow dome will house the longest indoor ski run in the world, which will be more than 1,900 feet in length. There will be beginner, intermediate and expert runs, in addition to ice climbing, luge track, Olympic half pipe and snowboard courses, and general snow play areas.

The ski resort will be integrated with a Four Diamond Hard Rock Hotel and Restaurant. The hotel will contain 300 rooms, two restaurants, retail stores, and a rooftop pool and deck capable of hosting live music events. Within two years, the developer must build a second hotel or double capacity.

In the release, Grand Alps Resort co-chairman Sherman Thurston called the Hard Rock Hotel "the icing on the slopes."

"The Grand Alps will be a summertime favorite for Texans who want to escape the summer heat and enjoy a usually seasonal only sport," Thurston said.

Construction on the hotel and ski facility is slated to begin in January 2015, with hopes of opening in 2018. According to the release, the City of Grand Prairie's investment includes the land and very generous tax breaks, including 100 percent real estate tax abatement for seven years and 75 percent hotel tax rebate for 10 years.

The city estimates more than 1.3 million annual visitors to the venue and the creation of around 2,000 jobs. The total cost of the project is expected to reach $400 million by 2018.

"The entire area is proud to be home to the first Hard Rock Hotel in Texas," Grand Prairie Mayor Ron Jensen said. "The Grand Alps will be a great new addition to our well established tourist business."

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millennial magnet

Dallas ranks among 15 hottest U.S. metros for millennial homebuyers

Photo by Vitaly Gariev on Unsplash

Dallas is one of the 15 hottest destinations for millennials.

Dallas and its surrounding cities have already proved to be a magnet for millennials, and now a new national housing report has established the city as one of the 15 hottest destinations for millennials, whose local homeownership rate has soared since 2018.

The number of millennials who own their homes in Dallas has grown from 229,497 to 451,826 households over the last five years (96.9 percent), according to a new housing analysis from RentCafe.

The study compared homeowner growth rates versus renter growth rates of millennials — based on Pew Research Center's definition as individuals born between 1981 and 1996 — across 107 U.S. metro areas from 2018 to 2023.

Dallas ranked No. 15 in the overall list of U.S. metros that have seen the highest increase in millennial homeowners since 2018. About 47 percent of all Dallas-area millennials own their homes, with the remaining 53 percent renting, the report found.

"The top 20 metro areas with the greatest increases in Millennial homeownership are led by sunny regions in Florida and California," the report said. "Unexpected urban hubs such as Dallas, San Antonio, Philadelphia, and New York also made the list with ownership growth rates reaching 90 percent or higher."

Dallas also ranked 27th in the national list of cities with the biggest growth rates among millennial-age renters. The number of millennial renter households jumped from 465,560 to 507,416 in five years, a 9 percent hike.

About 5.3 million millennials have become homeowners over the last five years nationwide, RentCafe's analysts said, which represents a massive 74 percent increase in millennial-owned households. The growth rate of renters was much lower in comparison.

"At the same time, the number of millennial renters in the U.S. rose by a modest 5 percent, adding approximately 600,000 households," RentCafe said. "This brings the total number of millennial homeowner households to 12.4 million, close to the 12.6 million millennial renter households."

While the rate of millennial homeowners is on the rise, the same can't be said for Gen Zers. About 12 percent of all Gen Z households in Dallas-Fort Worth own their homes, while the vast majority are renters, a separate RentCafe study found.

Elsewhere across the state, Austin (No. 7) and San Antonio (No. 10) ranked among the top 10 U.S. cities with the biggest growth rates among millennial homeowners.

The top 10 U.S. metros with the highest gains in millennial homeowners are:

No. 1 – North Port, Florida
No. 2 – Lakeland, Florida
No. 3 – Jacksonville, Florida
No. 4 – Stockton, California
No. 5 – Oxnard, California
No. 6 – Palm Bay, Florida
No. 7 – Austin, Texas
No. 8 – Tuscon, Arizona
No. 9 – Deltona, Florida
No. 10 – San Antonio, Texas

rentcafe study real estate housing report millennials dallas