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Kyle, Texas
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June 7, 2017     Hays Free Press
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June 7, 2017
 

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HaysFreePress.com The soon-to-be-open Railhouse is the third iteration of the old Railroad BY SAMANTHA SMITH The sounds of con- struction are com- monplace at the building located at the corner of Center Street and Old U.S. Highway 81 in Kyle these days. Such noises, however, are music to the ears of business owners Antonio Calvo and John Nelson, who are looking to revive a historic structure into what they hope is a downtown hotspot. The Railhouse, located at what was the Down South Railhouse build- ing on Center Street, is the product Calvo and Nelson hope to have open by late summer. It's a dream they believe could provide a "unique concept" to Kyle resi- dents. "This is going to be the best thing for Kyle," Calvo said. "It's going to be a unique concept that offers something for everybody." Calvo, a resident of Brooklyn, Nework, said he and Nelson sought a location for a unique business opportunity in the area. It wasn't until they discovered the build- ing in Kyle, which was shuttered in late 2016, that they found a viable Workers weld together parts of the future hess has been under construction for the last several months. Barbecue building on Center Street. June 7, 2017 Page 1D in BY MOSES LEOS III PHOTO BY SAMANTHA SMITH Railhouse on Center Street on Tuesday. The busi- location for what theyRenovations include What they plan to wanted to do. new flooring, new bars offer in the business Calvo said the duo and adding a refrigera- will include indoor and originally sought to rent tion unit that is housed outdoor music, vari- the building, but chose in a railroad car. The two ous sporting activities, to buy it instead, which are also updating sound including tennis, bocce saved them $400,000. systems, as well as seat- and 9-pin bowling. At that point the two ing options and updat- Calvo said he plans to decided to open their ing the roof on two of the leave the "rustic" looking establishment in Kyle. structures, faqade on the middle "The city has been One of the largest up- structure. The complex very good to us," Calvo grades is the installation will also have a food area said describing the pro- of a paved parking lot, on the side facing the cess he and Nelson went which will have 130 to railroad tracks, which he through to get the busi- 150 spaces located near said could offer unique ness off the ground, the first building, culinary selections to The two are in the Calvo and Nelson patrons. midst of renovating and said they solved previ- Calvo mentioned a reconstructing the estab- ous owners' problem of unique feature of the lishment to their liking, parking conditions, and new establishment Renovations could cost are using concrete tocalled "The Garden of up to $1 million dollars, mitigate flooding issues. Eden" that will contain PHOTO BY SAMANTHA SMITH various kinds of exotic plants growing around the front and side of the structure. Calvo said that Kyle Mayor Todd Webster ap- proved the construction of a small water tower on site located at the first building on the Center Street side with a Kyle logo in addition to the Railhouse logo. Webster said the business could offer a "destination" for Kyle residents. Webster added he enjoyed the previous establishment, but felt the new owners' vision could attract more visi- tors to Kyle. Calvo said even with the Railhouse's unique design and concept, he didn't come to Kyle to compete with local busi- nesses. He said the natural flow of downtown Kyle will allow patrons to walk around the area and be able to sample all venues, including Trou- badours and Room 111. "There are bars every- where," Calvo said, "But we are going to be an oasis." Calvo said he and Nelson plan to be open by mid-August 2017, but could be~ operation in late luly, ifweather coop- erates. Despite having a higher than national average un- employment rate and slow gross domestic product (GDP) growth, Texas ranks as the 20th best economy in the United States, ac- cording to new numbers from Wallet Hub. Texas scored a 55.40 out of a possible 100 inWal- let Hubs ranking, which obtained rankings for eco- nomic activity, economic health and potential innovation. The state tied with Loui- siana for 1st place when it comes to most exports per capita among the 50 states. According to statistics from the U.S. Census Bureau, Texas had a value of over $230 million in exports in 2016. Of that amount, 18 million came from petroleum, oil and minerals, while ten million derived from parts and accessories for machines and units. Texas ranked 24th in annual median house- hold income, according to WaUetHub's numbers. According to 2015 Census Bureau statistics, the aver- age median household income in Texas is $55,653, which was slightly below the national 2015 median income. But the state is 41st in GDP growth. GDP is the market value of goods and services produced by the labor and property located in a state, according to the Bureau of Economic Analysis website. According to May 2017 statistics from the Bureau of Economic Analysis, Texas current dollar GDP in 2016 was $1.6 billion, which ranked second in the country. However, the state's Real GDP grew by only 0.4 percent. Despite the low figure in 2016, Texas' compound annual growth rate for Real GDP was 3 percent between 2006 and 2016, which was higher than the national com- pound growth rate during the same time period. Roughly 15 percent of Texas total GDP came from finance, insurance, real estate, rental and leasing. ECONOMIC GROWTH, 4D If you're a certain age, or getting close to it, you might hear some- thing like this: "Now that you're older, you need to invest more conservative- ly." But what exactly does this mean? For starters, it's useful to understand that your investment preferences and needs will indeed change over time. When you're first starting out in your career, and even for a long time afterward, you can afford to invest somewhat aggressively, in stocks and stock-based investments; because you have time to overcome the inevitable short-term market drops. At this stage of your life, your pri- mary concern is growth- you want your portfolio to grow enough to provide you with the resources you'll need to meet your long-term goals, such as a comfortable retirement. But when you finally do retire, and perhaps for a few years before that, your investment focus likely will have shifted from accumulation to preservation. And this certainly makes some sense. Even though you may spend two, or even three, decades in retirement, you actually have many shorter time frames for withdrawing money- that is, selling investments - from your retirement accounts, such Financial Focus contributed by Jon Albright, CFP as your 401(k) and IRA. In fact, you may be taking withdrawals every month - and you don't want to be forced to sell investments when their price is down. Consequently, you'll want a portfolio that's less susceptible to market downtums. This means that you may need to reduce the percentage of stocks in your investment mix and increase your holdings in investments that have less growth potential but offer greater stability of principal, such as bonds. If you follow this formula, you will have become a more con- servative investor. But this evolution- from aggressive to conserva- tive - isn't that simple, or at least it shouldn't be. If, as mentioned above, you are retired for two or three decades, you will have to deal with inflation. And even at a relatively mild 3 percent annual infla- tion rate, your purchas- ing power will decline by about half in just 25 years. This is a real threat to re- tirees, who, unlike active employees, can't count on increases in earned income to overcome in- creasing costs of living. Given this reality, you will have to find your sources of rising income in your investment portfolio. One possibility: Dividend-paying stocks, some of which have increased their dividends for many years in a row. Still, like all stocks, these dividend payers can lose value from year to year, and they can also re- duce, or even eliminate, dividends at any time. In other words, they aren't risk-free - which brings us back to the question of how "conservative" of an investor you can really afford to be when you're retired. In the final analysis, there's no simple an- swer. On one hand, you probably shouldn't be as aggressive an investor as you were when you were much younger and still working. On the other hand, if you were to pri- marily own certificates of deposit and U.S. Treasury securities, you might face the prospect of outliving your money. Ultimately, you'll need to maintain a balanced portfolio that helps you control risk today while providing you with growth opportuni- ties for tomorrow. This article was written by Edward]ones for use by your local Edward Jones Financial Advisor. + ..... i [