Current Period (1996-present)
In the late 1990s, the booming telecom industry exploded in Dallas, especially in areas like Las Colinas and the Telecom Corridor. During this time, Dallas became known as Texas's Silicon Valley, or the "Silicon Prairie." Another recession prompted by the dot-com bubble-burst and the 2001 terrorist attacks hurt several of the city's vital industries. By 2004, signs of an economic turnaround began to appear. In 2005, three towers began construction amid tens of residential conversions and smaller residential projects. By the year 2010, the North Central Texas Council of Governments expects 10,000 residents to live within the loop. Just north, Uptown is one of the hottest real estate markets in the country. At the beginning of 2006, nine highrise residential buildings or hotels were under construction in that area. Leading the way is the $500M phase two of Victory Park, a $3B+ project. At full build-out, it should contain more than 4,000 residences and 4M ft² of office and retail space.
The Arts District in downtown is also expected to become a major point of growth. As the Dallas Center for the Performing Arts Foundation implements construction on several new projects in its master plan for the area. When the new Winspear Opera House (Foster and Partners) and Wyly Theatre (Office for Metropolitan Architecture - Rem Koolhaas) join the existing Nasher Sculpture Center (Renzo Piano) and Meyerson Symphony Center (I.M. Pei and Partners), Dallas will be the only city in the world that has four buildings within one contiguous block that are all designed by Pritzker Architecture Prize winners.
A magnitude 3.4-3.5 earthquake occurred in Dallas and the area late at night on September 29, 2012. Damage was none to minimal. The depth was 3.1 miles (5.0 km). Another slightly weaker earthquake struck four minutes after the main earthquake, at magnitude 3.1.
Read more about this topic: History Of Dallas
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