During the past few years, Waco has hit a growth spurt. Over a century since its’ founding, Waco is finally coming into her own. A late bloomer no doubt, but as you know, greatness takes time. You may recall that Mark Twain didn’t publish his first book until he was 34. (The world had to wait until he turned 49 to read Huckleberry Finn).
Visitors to Waco are often stunned to see the growth that seems to have sprouted up over night. Even local Wacoans have expressed their awe in watching the city bloom. Featuring the oldest institution of higher learning in the state of Texas and the historic homes featured on HGTV’s “Fixer Upper,” Waco continues to blend its timeless treasures with burgeoning modern upgrades.
In recent years the Greater Waco economy has enjoyed a boom in job growth—adding 2,900 jobs in the past year alone—and a 65% increase in building permits, according to Amarillo-based economist Karr Ingham. As for the residential side, the dollar volume of home sales activity during the first quarter of this year totaled $91.5 million. “In other words, by all measures – sales prices and real dollar sales volume, the Waco real estate residential market is in great shape,” says Ingham.
Since adopting the “Imagine Waco Downtown Development Plan” in 2010, over two-thirds of the city’s proposed actions have been realized—with nearly $600 million in investment completed or underway. Residents have been flocking to Downtown Waco to explore the revitalized urban center and celebrate the city’s newfound popularity, as people the nation over clamor to glimpse a view of this rising Texas phoenix. According to Kris Collins of the Greater Waco Chamber of Commerce, more than $350 million in proposed projects are in development and more than 1,100 new residential units have been added since 2007, with additional capacity for growth.
The future looks very bright for Waco, and whether you’re coming here for business or pleasure, for a residence or commercial space, for sale or for lease, Harrell Group Realty is proud to show you to your new home or office space. Our focus is to provide the highest quality real estate services in the area, and right now the area couldn’t be any hotter!