Is Hess Now Speedway? [Updated!]

Hess Corporation, one of the world’s largest integrated oil companies, recently set a new Standard of Living for its employees with a unique, lifestyle-focused development that delivers the best of both worlds – a new home and a new community with a company-maintained grocery store, restaurants, bars and other ancillary businesses.

The residential tower, which is currently under construction in Frisco, Texas, will feature a stacked-ring design, with 72 floors of residential space and 12 floors of amenities. A new addition to the community, the 750,000-square-foot mixed-use development will also include a spa, health club, and concierge services.

The property’s central location in the heart of a thriving suburb and close proximity to major urban centers – including the airport – make it an ideal home for businesses and individuals who work in the area.

Setting A New Standard Of Living

When asked about the inspiration for his latest project, Mark L. Hess, Executive Chairman of the Board, and Chief Executive Officer of Hess Corporation stated, “As a company, we’re always looking for ways to improve the way we live and work. We believe this project will redefine the way people think about living and working in an urban environment.”

The company’s dynamic business model and forward-thinking leadership team envisioned this new development from the very beginning. As a globally integrated oil company, Hess recognizes the value of having a strong foothold in urban centers, which provides clients, employees, and friends with a wealth of cultural attractions, dining options, and nightlife options.

This commitment to excellence and innovation is what makes Hess a great employer and the perfect fit for this type of community. According to the Human Resources department at Hess, a few of the benefits that employees enjoy at work include generous paid leave and sick days, health insurance coverage, and a childcare center.

The Benefits Of A Living, Working Environment

Frisco is a city, which means the community has the right to say “no” to new development; however, as a home for a major corporation, the city has certain benefits. These benefits include a reduced municipal utility bill from Hess’s energy-efficient fixtures and appliances, company-provided transportation, and a company-maintained community space.

The location of the upcoming development in Frisco, Texas makes it an ideal place to work. Easy access to I-45 and the Dallas/Ft. Worth airport, in addition to the community’s various restaurants, bars, and shops, guarantee that employees will have plenty to choose from should they decide to leave the building for something more exciting (or at least less monotonous) than their tasks. There’s also the community’s children, whom Hess considers to be its future leaders, students, and owners. Therefore, the company sees an investment in this property not only as a good idea for employees who want to build a new life for themselves in the city, but also as a wise move for the future of the company itself.

What’s Next For Hess?

Based on the success of the development in Frisco, which is set to complete in the summer of 2022, Hess has decided to replicate the formula in other parts of the country. According to Hess, the company is currently scouting for suitable locations in other major urban centers, ready to invest in new developments that provide the best of both worlds – a new home and a new community with everything a busy individual might need.

Should You Invest In Real Estate?

Hess’s new standard of living will definitely be appealing to business people who work in the area. Not only will it provide them with a comfortable, modern place to live, but it also features all the necessary amenities they could want, including a company-owned store, restaurants, bars, and various other businesses that could make daily living more enjoyable.

As for whether or not you should invest in real estate yourself, that depends on whether or not you want to take advantage of the extremely favorable cash flow that these types of investments offer. Do you want to use this money to pay off debts or take a cruise? Those are your choices, but if you want to use this opportunity to invest in a property that will eventually increase in value, then you should consider it.

A Property For A Change Of Scene

The apartment market in Frisco, Texas is currently experiencing something of a surge, driven by active adults who want to be in an urban setting yet close to the amenities of a suburban lifestyle.

According to Laura F. Giunta, Director of Marketing for Windermere Real Estate, “Frisco has always been a bit of an anomaly in the real estate market in that it is a suburb of Dallas/Ft. Worth yet it has its own municipal government, which operates independently of the city. This independence allows for more flexibility when it comes to pricing and product offerings.”

With more businesses moving out of the city and into the suburbs, the demand for properties that provide a change of scene is high. Families want to stay in the suburbs but experience life in the city with its entertainment, dining, and shopping options. Yet, they also want to maintain a connection to nature, so they look to properties that offer panoramic views and wooded, park-like settings.

The 750,000-square-foot development in Frisco will offer families and individuals a fresh start in a new, urban environment. As executive chairman of the board at Hess, Mark L. Hess understands the desire of busy individuals to have a change of scene and the valuable role that real estate plays in providing this type of change. Therefore, he has decided to donate a portion of the proceeds from this project to Habitat For Humanity, which builds housing for low-income families and offers them a sense of community.

Learn More About This Project

You can learn more about the new development in Frisco, Texas by visiting the project’s website or scrolling down to the bottom of this article where you will find an interactive version of this story.

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