From downtown revitalization projects to medical district housing, commercial real estate agent Samuel Scarborough sees big opportunity for growth in Tyler.
At 27 years old, Scarborough is quickly making a name for himself in the real estate market with projects filling the need for housing and retail in high-demand areas.
That townhouse complex rising next to the Fleishel Avenue and Saunders Avenue bridges on East Front Street? That’s one of his. That site will be home to the District at Midtown Luxury Apartments, three dozen units being built to suit the needs of professionals in the booming medical district.
Another project garnering attention will kick off in May 2020 on the old King Chevrolet lot downtown. Scarborough said that project will bring 112 high-end apartments units with 4,000 square feet of retail space.
Scarborough said that all of his best memories growing up had been in Tyler, which is why he chose to shift away from a career in oil and gas properties in Houston and build a rewarding career in his hometown.
“I see that Tyler has a bright future with all of the young people coming back to Tyler and staying here after high school and college,” he said. “My family is also located here, which is a big draw for me.”
Scarborough said a few key factors will help Tyler see significant growth in the near future. From 2016 to 2018, the city was number four in the nation in per capita income growth. Economist Ray Perryman recently said at a luncheon in Tyler that the only areas ahead of the city were the oil-rich cities of Odessa and Midland, and a factory-driven economy in Midland, Michigan.
The other big factor Scarborough pointed to was the upcoming census, which will officially put Tyler over the 100,000-residents mark.
He believes people are going to continue choosing to make their mark in Tyler because the economy is booming and the city is growing, but that residents still benefit from not having to pay the higher costs associated much larger cities.
“There’s a lot of really great things in Tyler, and if you’re serious about getting involved in commercial real estate it’s a great time to do it,” he said.
Scarborough said areas such as South Broadway Avenue and Old Jacksonville Highway are seeing massive growth and the downtown area continues to benefit from revitalization efforts. He pointed to the Plaza Tower project that is bringing in new businesses as well as food and entertainment, including a new branch of Andy’s Frozen Custard, True Vine Brewery and Café 1948’s new Urban Market.