As the relatively new executive director of the Urban Land Institute Dallas-Fort Worth, Tamela Thornton promotes dialogues and actions in commercial real estate that lead to transformed communities.
It’s a passion she’s also demonstrated as a founding partner and principal at Emmitt Smith’s E Smith Communities, as she helped establish new opportunities in Southern Dallas. Thornton says, “Our business is transforming communities, and there is no better way to do that sustainably than engaging with those who are your stakeholders and can become your champions.”
Thornton—who stepped into the ULI role in September 2021, succeeding long-time leader Pam Stein—is among the experts invited to share their thoughts on the CRE market for our recent DALLAS® magazine that focused on how DFW punches above its weight in commercial real estate. Here’s what she had to say in “View from the Top Tier.”
What opportunities and challenges are you seeing now for DFW’s real estate and community development?
Real estate activity in North Texas has continued during the pandemic with many sectors experiencing their strongest performance in years. There has been an increased focus on retail services that can flex between on-site and delivery, and single-family housing for rent is a new growth sector.
I believe the biggest ongoing challenges will be balancing new growth and redevelopment opportunities with the ongoing need for affordable and workforce housing. The pandemic exposed the number of residents who are living very close to the affordability edge.
As new growth continues, the development community will need to be intentional in its efforts to ensure a broad complement of housing stock exists for not only those who might be moving from other higher-cost communities, but those whose daily work sets the foundation of sustainable, thriving communities.
How can real estate professionals help transform our communities?
The redevelopment and transformation of communities is as much about creating the appropriate land-use strategies as on-the-ground implementation.
How does ULI support that?
At ULI, we have a program called Urban Plan, which can be targeted to students, community leadership, and real estate professionals. It’s designed to help varied constituents understand how the development process works and the trade-offs that real estate professionals make every day to satisfy a variety of constituents. It’s a fun way for individuals to understand the complex nature of land-use decisions and the dynamics that influence and shape our neighborhoods.
How can leaders in CRE can help foster diversity, equity, and inclusion in the industry?
Being inclusive organizationally requires entrenched leadership to be comfortable being uncomfortable, as the “boys club” mentality must be eradicated. Strong, empathetic leaders are not afraid to embrace different styles, or confront historical biases which likely have limited opportunities for many.
Our business is transforming communities, and there’s no better way to do that sustainably than engaging with those who are your stakeholders and can become your champions.
•••
This interview has been edited for brevity and clarity.
A version of this story first appeared in the print edition of DALLAS® Commercial Real Estate 2022, published by Dallas Next for TREC and the Dallas Regional Chamber. Read more in the digital edition of the magazine below, and request the next print edition here.
Get on the List
Request the next print edition of DALLAS® Commercial Real Estate here—and sign up for the Dallas Innovates e-newsletter for what’s new and next in North Texas business and CRE. To share your news or get information about the magazine, reach us here.
The real estate magazine is part of the DALLAS® media platform that includes the DALLAS® Relocation and Newcomer Guide and the DALLAS® Economic Development Guide. Published by Dallas Next for the Dallas Regional Chamber, together they tell the world about the future of live, work, learn, and play in North Texas.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
-
The hybrid event in August will take place in person at SMU and virtually. The seventh annual Dallas Startup Week powered by Capital One is Dallas-Fort Worth's largest event focused on driving entrepreneurial success, economic impact, and innovation in the region.
-
Avanci's one-stop marketplace for wireless essential patents makes securing technology rights faster and easier. Its latest deal: Jaguar Land Rover—the UK's largest automotive manufacturer—which signed a patent license agreement with Avanci to receive licenses to 2G, 3G, and 4G essential patents.
-
You'll find deadlines coming up for a new accelerator program; and many more opportunities.
-
Jorge Varela has spent decades building startups in Silicon Valley, San Antonio, and even in Central America—his place of origin. Now his efforts will center on North Texas' innovation economy. “The shift from Silicon Valley and the East Coast to Texas and DFW is real,” Varela says.
