Phill Geheb, Senior Vice President, Matthews Southwest

In an interview with Invest:, Phill Geheb, senior vice president of Matthews Southwest, who joined the company in January 2024, shares his strategic vision shaped by his experience as a partner in a Dallas-based law firm. Geheb focuses on enhancing global collaboration and spearheading key projects.

What are some of the trends driving real estate and development in North Texas? 

The No. 1 factor right now is interest rates. Everyone’s watching rates closely. By the time this goes to publication, we might see an interest rate cut, which could really ignite more projects that have been on hold. Even a slight reduction in rates over the next six months could lead to more project announcements and a surge of activity.

Despite the interest rates, demand in North Texas hasn’t slowed. We’re still seeing 600 to 800 people moving here daily. While most of that growth has been northward, we’re anticipating it will start moving south as well. The region remains attractive due to its vibrant economy and relative affordability compared to coastal markets, which is drawing more corporate relocations and major projects to the city.

However, affordability is becoming a concern. Housing prices are increasing, and what was once considered moderately affordable is now edging into the unaffordable range. This issue will be a key driver over the next decade. Five years ago, we wouldn’t have predicted this challenge, but it’s now something we have to address to ensure people feel comfortable investing their lives here.

What were some key milestones or achievements for Matthews Southwest in this past year?

We are focused on assisting the city of Dallas as its program manager on executing the largest social infrastructure in the United States, the implementation of the Kay Bailey Hutchison Convention Center Master Plan.  We have partnered with over two dozen firms, 50% of which are minority or women owned businesses, to help the city of Dallas bring energy to downtown and continue the revitalization of South Dallas.  

On the industrial side, we’ve seen explosive growth in the Southern Dallas market, especially around the intermodal yard in South Dallas. Dallas is rapidly becoming the logistics hub of the American South, and we’re exploring opportunities in this market while collaborating with civic and industry leaders to target strategic developments.

Another significant area of focus is affordable housing in South Dallas. We’ve been working with local and nonprofit partners to address not just the supply and demand mismatch but also the broader elements of affordability, like security and social services. For example, at the Galbraith, we’re integrating the building into the community and making a mixed-income model work on the edge of downtown Deep Ellum. We’ve also been involved in the Mill City project and partnering with organizations to promote affordable single-family housing in Dallas and Fort Worth.

Lastly, we’ve made significant progress on The Tribute, a mixed-income, master-planned community in Lewisville. It’s nearing completion, with the final developments and lots now under development. We’re excited to see this community reach its full potential and have some exciting community-building projects planned for 2025.

How have your previous experiences influenced your strategic vision for Matthews Southwest, and what are your immediate priorities?

I joined the company in January 2024, after working as a partner in a Dallas-based law firm. There are similarities between how our company and law firms are organized. Both rely on strong leadership in key areas to drive success and a company culture that values and entrepreneurial spirit. Jack has built a strong company culture based on doing the right thing, building partnerships, and thinking long-term, which I see in action across all of our projects, divisions, and people.  Here at Matthews Southwest, we’re focused on deepening that culture, operating efficiently and fostering collaboration, regardless of geographic location or type of project. 

One of our strengths is our global experience, spanning from Vancouver and Toronto to Dubai and Texas. We aim to leverage that global expertise in our local markets, ensuring we deliver pragmatic solutions tailored to the communities we serve. 

What approaches are you taking to ensure long-term affordability and community integration for the Mill City project?

The Mill City project is truly community-driven, with local members leading the initiative and us providing support where needed. The focus is on low-scale, single-family homes rather than large apartment complexes. This approach is designed to maintain the community feel and ensure safety and security.

We’re also implementing comprehensive community preservation strategies to ensure sustainable, inclusive development. A key part of this is advocating for the Preserve Our Prosperity program, a property tax relief initiative that freezes property tax bases for existing residents before development begins. This helps prevent residents from being priced out of their neighborhoods as the area develops.

Our approach to the Mill City project is rooted in collaborative partnerships with the city, local stakeholders, and community groups. These alliances are fundamental to our mission of balanced development – one that enhances the neighborhood through thoughtful new projects while preserving its unique character and supporting existing residents. By fostering these relationships, we ensure that as we progress with development, we’re not just creating structures, but strengthening the fabric of the community itself.

What innovative tools or technologies is Matthews Southwest implementing?

Like many companies, we’re exploring how artificial intelligence can help our business. We’re experimenting with AI to assist our construction managers, development directors, marketing teams, and operational divisions.

So far, the results have been mixed. Some say AI has improved their efficiency by 20 to 30%, which, for a lean team like ours, can significantly enhance the services we provide to our public clients and speed up our transaction evaluations.  Others have found more limited use cases where it makes sense.  As AI technology evolves, we aim to be ahead of the curve.

However, beyond technology, we’re focused on strengthening relationships with our teams, clients, and global partners. Building and maintaining strong relationships is central to how we approach complex challenges, and it’s something we continually work to improve.

What measures is Matthews Southwest taking to stay environmentally friendly in its developments?

We’re at the forefront of integrating sustainability and climate resilience into our developments, aligning with both market trends and our commitment to responsible growth. In our Squamish developments, for example, we’ve implemented several environmentally conscious practices, such as using mass timber and incorporating constructed wetlands, which is crucial in such a sensitive area. We’re now looking to bring some of that knowledge to North Texas as we explore new projects.

We’re also focusing on energy systems, given the rising temperatures and increasing demand for power in areas like data centers. One innovative solution we’re exploring is the use of natural gas and hydrogen fuel sources in cogeneration facilities for industrial and other large buildings. These modular systems can expand as buildings grow, offering a scalable solution. Larger clients are particularly interested, as energy grid constraints could become a significant barrier to future development in various markets. 

What is your outlook on the North Texas development sector and Matthews Southwest’s direction over the next two to three years?

In North Texas, the sky’s the limit. Our economy is diverse, and people continue to move here, the public sector continues to make exciting investments in both social and hard infrastructure. What makes North Texas unique is its global approach to problem-solving. Even when there are disagreements over major infrastructure projects, the dialogue continues, which bodes well for the region’s future growth.

As for our company, we’re a global real estate team that thrives in tackling complex projects. We plan to continue deploying resources in Texas and Canada, while expanding our presence in the Middle East beyond Dubai, and potentially into other European markets. Our approach is deliberately selective, encompassing both large-scale developments and smaller, targeted projects. What remains constant is our commitment to prioritizing quality over quantity. This allows us to fully commit our resources to projects that not only align with our long-term vision but also significantly enrich the communities we serve.