We are home to 64 Fortune 500 companies, more than any other state, and those now come in a wide variety of industries, no longer just oil, though oil, women with big hair and Cadillacs is what we are known for. Which is a good thing because we are no longer dependent on the swings in barrel pricing. Besides, the JR Ewing image is kind of fun.

KXAS-TV’s Ashanti Blaize says we also managed to avoid the worst of the real estate crisis:

“While in other major cities we’ve seen condo high-rise projects either slowed or come to a screeching halt, in Dallas we’ve seen an influx of some of those projects,” says Blake.

But be forewarned, we may not hold the crown for long. The report also says rising commercial rents and high wages hurt the state in the all-important Cost-of-Doing-Business category, where it comes in at number 30. Can you say Franchise Tax? I don’t know how long ago that CDB study was done, because I’ve seen commercial rents come down significantly. And the jury is still out on the downtown condo market. We’ve had our influx, but now the trick is to fill them with warm, mortgage paying bodies — or preferably, cash!

Texas was one, Virginia two, Colorado three, North Carolina where everyone I know seems to be buying or building a second home four, and surprise surprise Taxachusetts Massachusetts was number five. Could that have anything to do with the fact that Ted Kennedy is no longer there????

Update: Go figure. Now I’ve just read CNBC’s most expensive states to live in, and Massachusetts is right there on the list. You could rattle this list off in your sleep and save thousands in research fees: California, New York, Connecticut, Massachusetts, Alaska, Vermont (Ben and Jerry’s???) , Maryland, Rhode Island, New Jersey. Looking at that list it is clear that our affordable housing keeps us off it. I paid $2.00 for a dozen (free-range, hormone-free) eggs yesterday at Tom Thumb.

The Houseman Building at 400 North Akard is being restored and apparently filling up quickly. P&B Live, an actuarial and benefits firm that helps companies leverage resources spent on benefits, payroll, recruiting, and retirement, has taken a whopping 4000sf in the Houseman, and P&B is the latest company to move its corporate headquarters to downtown. The company has national offices in Austin, Medfield, MA and Minneapolis, and is set to take the space over in September. Houseman is still filling, fielding many calls.

And get ready for this: a commercial property flip! 1910 Pacific, a class A office tower that Boxer properties just purchased three months ago for approximately $4.5 million, is back on the market for $12.9 million+. Surely they Cloroxed and renovated but… awesome $6 m???? And does this mean it’s Miller Time?

As you can see from this chart, downtown Dallas asking rents took a nosedive in late ’08, but are bleeping upwards. Remember, what’s good news for commercial is frosting on the cake for residential…

Update: DallasDirt has a broken keyboard!

I’m thinking $800,000 apiece. Yes, I am sober.

OK, so every week or so I’ll find a plot of land and we can all play the developer game: tell me what you would do with the dirt. How would you develop it? What would you build? Would you have a home owners association (necessary evil) and what would you outlaw? Please, let’s stick to design and architectural elements and styles, not people, though that is VERY tempting.

OK, it’s Monday — let’s play. What would you do with THIS?

Midland is about a con artist named Bob (not Tiger) who juggles love with two women in two cities (Dallas and Houston? I hope they don’t get the Neimans  accounts confused) and Voight, a powerful Texas legend,  is the father of one of the ladies. Scenes were being shot in his “office” on the 26th floor overlooking the city. I overheard some of the scenes today and it sounds like this Bob guy is very confused. Over love.

“During the worst recession since the Depression, Washburne had the tenacity to seek out financing so his family could buy Highland Park Village for a hefty $170 million. The Wall Street Journal said no single U.S. retail property had sold for more this year, and the price per square foot of $680 may be the most paid for Dallas area retail this decade, or maybe ever.”

Of course, recessions are when smart investors pick up property for (hopefully) pennies on the dollar. HPV was not a fire sale, but Washburne was undaunted in his hunt for financing. He’s already making changes. The Regent Theatres’ lease has ended, but Washburne says it will re-open in the spring after a major remodel that will include dining. My guess is that the plans will include a very family-friendly, Studio Movie Grill-type idea to continue what Washburne called a “Beaver Cleaver” existence he enjoyed as a child in the Park Cities. The article also details how he worked his way through SMU, acquired rental properties and started a dorm “Ray The Carpet Man” carpet company while an undergraduate at SMU. The story of his college and pre-college entrepreneurship brought to mind another biz magnate from the 1970′s who went on to change life as we know it: Bill Gates.

This is a comment from a reader that was going to get buried. He/she already lives in a condo and is considering a move to “21″ — what can we tell them:

 ”I am a long time condo owner in another HOA but an considering moving to 21 Turtle Creek. Is it really bad? I am president of our Board and we try to treat owners courteously. We are very hands-on in our property management so we don’t go into debt but still maintain our property. Does 21 have frequent dues increases and assessments? We have had only 1 assessment and 5 dues increases in 26 years. Also, propably because we are not a high rise but are built around a courtyard, owners are friendly but not in your business. And, if you don’t want to valet park, can’t you just go in the garage and park yourself. Does everyone have to know all your comings and goings and who visits you and when? Thanks for any input.”