These ten great places will only get better.

From Kiplinger’s Personal Finance magazine, July 2008

Our approach this year to picking the ten best cities in which to live and work was simple: Look for places with strong economies and abundant jobs, then demand reasonable living costs and plenty of fun things to do. When we ran the numbers, some of the names that popped up made us do a double take at first. So we hit the road to meet movers, shakers and regular folks, experience the ambience and take in the sights.

We discovered that our numbers guru, Kevin Stolarick, hadn’t steered us wrong. Stolarick, research director at the Martin Prosperity Institute, a think tank that studies economic prosperity, says: “Our formula highlights cities not just with strong past performance, but also with all the ingredients for future success.” One key to a bright future is a healthy shot of people in the creative class. People in creative fields — scientists, engineers, architects, educators, writers, artists and entertainers — are catalysts of vitality and livability in a city.

The cities that made our list also represent larger surrounding areas. And because we understand that city living isn’t for everyone, we’ve highlighted some great suburbs, too.

Pack a bag and join us on a tour of the Best Cities for 2008 and prepare for some surprises.

No. 1: Houston

No. 2: Raleigh

No. 3: Omaha

No. 4: Boise

No. 5: Colorado Springs

No. 6: Austin

No. 7: Fayettville

No. 8: Sacramento

No. 9: Des Moines

No. 10: Provo

For More Places, Tools and Walking Tours, Visit Our Best Cities Center

Source: Forbes.com
By Joshua Zumbrun

Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly–or even contract–in the first half of the year.

But some cities are doing just fine.

Take Oklahoma City, Okla. With falling unemployment, one of the country’s strongest housing markets, and solid growth in agriculture, energy and manufacturing, it looks best positioned among the nation’s largest metropolitan areas to ride out the current crisis.

San Antonio is right behind. It also features solid employment figures and affordable home prices that continue to rise. Its industries are growing; it can’t hurt that the new AT&T was formed when San Antonio-based SBC Communications swallowed the old AT&T Corp. and BellSouth.

The others holding steady or improving include Austin, Texas; Houston; Charlotte, N.C.; Dallas; San Jose, Calif.; Raleigh, N.C.; Salt Lake City; and Seattle.

Behind The Numbers

To find them, Forbes.com examined the country’s 50 largest metros and looked at several key measures.

We examined unemployment data supplied by the U.S. Bureau of Labor Statistics for the year ending in February 2008 to see which areas are most adding or subtracting jobs. Next, we looked at the BLS data on job growth in non-farm payrolls, through February 2008, for construction, education and health services, financial activities, information, leisure and hospitality, manufacturing, natural resources and mining, professional and business services, trade, transportation and utilities, and the BLS’s catch-all category, “other services.”

We also took into account median home price data from the National Association of Realtors–from the fourth quarter of 2006 to the fourth quarter of 2007–to see which areas posted the largest annual gains. Our data don’t account for the impact of declining sales in the first several months of this year.

Finally, our rankings were adjusted using data from a November 2007 report, “U.S. Metro Economies: The Mortgage Crisis,” by the U.S. Conference of Mayors. It lists each city’s estimated gross metropolitan product growth by projecting how rising foreclosures and falling home prices would affect overall levels of productivity in local economies.

Sunny Southern Skies

Texas cities fared best under these measures. San Antonio, Austin, Houston and Dallas-Fort Worth have benefited from historically lower home prices, which have been affordable to a large segment of the population. The availability of land–and, in some cases, little zoning–helped keep prices in these cities low. Instead of competing for homes, Texans could move to a new subdivision a little farther out.

What’s more, all four boast falling unemployment rates, with Austin dropping from 3.8% to 3.6% and San Antonio from 4.3% to 4%.

Cities that are expected to see growth in non-farm payrolls include Raleigh, which is expected to see 7.4% growth in professional and business services and 6% growth in education and health. In Salt Lake City, where the median home price rose 2.5% and unemployment, at 3.1%, is below the 5.1% national average, growth in education and health services is expected to be 5.5%.

Some cities have seen increasing home prices but otherwise continue to struggle. Buffalo and Rochester, N.Y., have seen home price growth (from a low base) but still contend with high unemployment–around 6%–and slow-growing or shrinking industries.

And in the San Jose area, the median home sale price is over $830,000. That’s 11% higher than it was in the fourth quarter of 2006, helping to land the area at No. 4 on our list. Problem is, that growth has since cooled, and it remains to be seen whether pricey homes coupled with a 5.3% unemployment rate will cause trouble for homeowners this year.

To be sure, even in the most resilient cities, the mortgage crisis has caused suffering. People everywhere got into bad mortgages. Similarly, even in the most battered cities, the majority of people are employed and making their mortgage payments. The extent of recession or resilience is very much in the eye of the beholder, and this list represents only one of many ways to take a snapshot of economies that are standing tall.

In his statements to Congress’ Joint Economic Committee earlier this month, Federal Reserve Chairman Ben Bernanke predicted the economy would possibly move into recession in the first half of 2008 but begin to rebound in the second half.

Media Contact:
Katherine Orellana (korellana@mmihouston.com)
Sam Byrd (sbyrd@mmihouston.com)
713-523-7900
Marion, Montgomery, Inc.

Houston (April 04, 2008) – Phillips Development & Realty, developers of Mosaic on Hermann Park, announces that it captured the Houston Business Journal’s Landmark Award for the “Multifamily Project of the Year” category as well as the top award, “Landmark Project of the Year.”

“Mosaic on Hermann Park is a demonstration of the value of a team dedicated to excellence,” said Project Designer David Riese. “We are honored to have the Houston Business Journal note the hard work of all people and companies involved in developing this project.”

Mosaic on Hermann Park entered the competition in concert with JE Dunn & Associates, the general contractor for the project. Other finalists for the multifamily project category were 7 Riverway, developed by The Hanover Company, and Boardwalk at Town Center – Phase 1, developed by Cambridge Development Group.

Landmark projects are judged on many criteria: they must be substantially completed and financially viable upon the time of judging; they should be environmentally friendly; they should add value to the surrounding area as well as spur similar projects. Overall, entries aren’t judged on size but rather by the impact on the Houston area.

“The Landmark Awards give well-deserved acknowledgment to the developers, builders, architects, engineers and real estate professionals who help improve the quality of Houston,” said John C. Beddow, publisher of the Houston Business Journal.

The 30-story building is located on the edge of Houston’s Hermann Park, next to the world-renowned Texas Medical Center, Rice University, thirteen museums, the planetarium, and Houston Zoo and features floor-to-ceiling windows that overlook views of Hermann Park and
downtown. The project was designed for true modern living with a one-acre resort-style amenity deck and rooftop pool, 22,500 square feet of street-level retail space, fiber-optic technology in every home, 24/7 professional concierge and techcierge service, around-the-clock amenities, a chic social lounge and state-of-the-art FIT Gym.

“We looked at this site and saw all the possibilities of the resurgent museum district,” said Jack King, vice president of operations for Mosaic on Hermann Park. “Hermann Park is an incredible green space in Houston – all the trees, trails, museums, cultural and athletic events and opportunities. And it is right outside our front door, literally. Turn slightly and there is the Medical Center, thriving with intellectual capital, jobs and life. Turn slightly again and there is downtown Houston. So we knew we could build something new in Houston that reflected the who, what and where of the area: smart, sophisticated, international and multi-cultural, and physically and mentally active.”