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Mixed-use complex at Fort Worth TRE parking lot could cost $60 million

A design panel proposes two buildings on Trinity Railway Express lot on Near Southside, with a mix of apartments, retail, office and parking, and frontage on West Vickery and views across I-30 and overlooking downtown.

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Sundance Square prepares for time in college football spotlight

ESPN is bringing its College GameDay broadcast to Sundance Square to open and close the college football season this year.

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TCU's Neeley School receives $30M donation as part of planned expansion

A $30 million foundation gift to Texas Christian University will help guide a $100 million facility expansion for the Neeley School of Business.

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Neece Brown named interim president of Arts Council of Fort Worth

Cathy Neece Brown has been named interim president of The Arts Council of Fort Worth, replacing Jody Ulich, who will depart this month to become the director of Convention and Cultural Services in Sacramento, Calif.

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Fort Worth-area human resource awards seeks nominations

The Fort Worth Human Resource Management Association (FWHRMA) has announced their inaugural Human Resource Professional of the Year Award.

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Home building up in November

 

Home construction increases in November. Photo courtesy of CNN. 

Chris Isidore

NEW YORK (CNNMoney) -- Builders rushed to start homes in November, with that key measure of the housing recovery enjoying a huge one-month jump.

Housing starts grew at an annual pace of 1.09 million, up nearly 30% from a year ago. The issuance of building permits was also strong, up 7%.

Still the pace of housing starts was less than half of the peak levels during the housing boom in the middle of last decade, and was even 25% below the monthly average over the course of the last 50 years.

"Because of this, the impressive acceleration in residential investment which has occurred in 2013 should extend through 2014," said Joseph LaVorgna, chief U.S. economist at Deutsche Bank, in a note Wednesday.

A survey by the National Association of Home Builders released Tuesday showed builders reporting the best sales conditions for single family homes in eight years.

The recovery in the housing market has been one of the key areas of strength in the U.S. economy. Years of low levels of home building since the bursting of the housing bubble have left the nation with a tight supply of new homes for sale.

A strong improvement in home prices and a drop in unemployment and home foreclosures have combined to drive a rebound in demand for homes.

Mortgage rates have been rising steadily for months since hitting a record low in the spring. That has also increased demand as potential buyers look to make a purchase before rates go higher.

"Collectively, the starts and permits figures suggest that the housing sector is not being impinged by higher mortgage rates," said LaVorgna. "While affordability has declined somewhat due to rising rates and increasing home prices, it is still extremely high relative to history. In fact, housing affordability is higher now than at any point from 1971 to 2007."

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