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<strong>Lavon</strong><br />
<strong>Estates</strong><br />
Acre <strong>Lots</strong><br />
Build to Suit
Overview<br />
<strong>Lavon</strong> <strong>Estates</strong> is located in Collin County which is the<br />
fastest growing county in Texas. <strong>Princeton</strong>, TX has<br />
seen a population increase <strong>of</strong> 32% between the years<br />
2010 and 2015, and has a current population <strong>of</strong> 8,939.<br />
The population is projected to reach 11,651 by 2018<br />
and 14,600 by 2020. <strong>Princeton</strong> has a median resident<br />
age <strong>of</strong> 35.8 years old and a median household<br />
income <strong>of</strong> $58,143 (2016). Located 45 miles northeast<br />
<strong>of</strong> downtown Dallas and 43 miles from DFW<br />
International Airport, this land is ideally positioned <strong>for</strong><br />
a new master planned residential community.<br />
Property Summary<br />
LOCATION<br />
COUNTY<br />
SUBMARKET<br />
LAND AREA<br />
TRAFFIC<br />
COUNTS<br />
ZONING<br />
LAND USE<br />
9633 CR451<br />
<strong>Princeton</strong>, TX 75407<br />
CR 982 @C451<br />
Collin<br />
<strong>Princeton</strong> / McKinney / Fairview<br />
± 113 Acres<br />
± 19,200 VPD Along US<br />
Highway 380 @ HighSchool ±<br />
28,732 VPD Along US Highway<br />
380 @Walmart<br />
Subdivision-SF (Single Family)<br />
Residential Single Family<br />
SCHOOL<br />
DISTRICT<br />
UTILITIES<br />
<strong>Princeton</strong> ISD<br />
Harper Elementary School<br />
Huddleston Intermediate<br />
Clark Junior High School 7-8<br />
<strong>Princeton</strong> High School 9-12<br />
Water: Culleoka Water Supply<br />
Corporation<br />
Septic sewer system<br />
Electric: Oncor
Community<br />
Site Plan
Phase I lots <strong>for</strong> <strong>sale</strong>
Executive Summary<br />
INVESTMENT MERITS<br />
Collin County<br />
An estimated 2,400 people per month move in to Collin County making it the<br />
state’s fastest growing county with a current population exceeding 900,000<br />
and a median age <strong>of</strong> 35. Among counties with more than a half-million<br />
people, Collin County has the highest sustained growth rate in the U.S. since<br />
the last Census in 2010, at 73.9%. The Collin County population is projected<br />
to reach 1.2 million by 2030. Collin County has a median family income <strong>of</strong><br />
$96,184 which is 33 percent higher than the U.S. median. In 2015, the County<br />
had a 94-percent occupancy rate <strong>for</strong> the 337,778-plus housing units there.<br />
Many home buyers are attracted to Collin County due to its low tax rate at<br />
23.5 cents per $1,000 <strong>of</strong> assessed value. The county has maintained an AAA<br />
bond rating status since 2000 and is one <strong>of</strong> only four Texas counties to have<br />
such an exceptional rating.<br />
Collin County is also recognized <strong>for</strong> its highly educated work<strong>for</strong>ce. Forbes<br />
Magazine ranked Collin County second in the nation in the quality <strong>of</strong><br />
schools. For grades K-12, 90-percent <strong>of</strong> students attend public schools and<br />
almost 43% <strong>of</strong> the population from ages 18-24 are enrolled in college or<br />
graduate school.<br />
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Executive Summary<br />
INVESTMENT MERITS<br />
Thriving DFW Market<br />
• Economy fueled by job growth, in-migration and housing shortage<br />
• #2 MSA in U.S. annual job growth through 2016 adding over 122,300<br />
new jobs and over 400,000 residents<br />
• Diversified economy proving resilient compared to Houston and other<br />
energy dependent cities<br />
• DFW residential home supply currently is at a 20-year low with a 2.5<br />
month supply <strong>of</strong> homes available<br />
• Corporate relocations help fuel in-migration and job creation. Most<br />
notable: Toyota North America, Liberty Mutual, State Farm, and FedEx<br />
• Home price gains are highest in the U.S. at 9.5% currently<br />
• New home inventory currently at 2,754 in DFW compared to 12,000 in<br />
2006<br />
<strong>Development</strong> Support and Incentives<br />
• No personal income tax in Texas<br />
• No corporate income tax in Texas<br />
• Low corporate franchise tax<br />
Major Transportation Hubs<br />
• McKinney National Airport 8.7 Miles<br />
• Dallas Love Field 41.7 Miles<br />
• DFW International Airport 42.5 Miles<br />
Growth and Quality <strong>of</strong> Life<br />
• Current population <strong>of</strong> 10,238 compared to 7,248 in 2010 – 18.4%<br />
increase<br />
• Population is experienced, talented, and highly educated (42.3% <strong>of</strong><br />
population has a bachelors degree) with an average age <strong>of</strong> 43 years<br />
• <strong>Princeton</strong> is Located adjacent to McKinney, TX which was ranked “#1<br />
on the list <strong>of</strong> Best Places to Live in America” in 2014 by<br />
Magazine, based upon: Af<strong>for</strong>dability, Education, Arts and Culture,<br />
Safety, Healthcare, Diversity, and the Economy Money<br />
• Collin County is the fastest growing county in the state<br />
8
Executive Summary<br />
PRINCETON DEMOGRAPHICS<br />
PRINCETON MARKET REPORT<br />
1 MILE 3 MILE 5 MILE<br />
Population<br />
2016 Population 3,334 9,997 14,844<br />
2021 Population 3,696 10,965 16,023<br />
Population Growth 2016-2021 10.86% 9.68% 7.94%<br />
Average Age 35.80 35.80 36.40<br />
Households<br />
2016 Households 1,217 3,437 5,035<br />
HH Growth 2016-2021 11.26% 9.81% 7.98%<br />
Average Household Size 2.70 2.70 2.90<br />
2016 Average HH Vehicles 2.0 2.0 2.0<br />
Median Year Built 1985 1991 1990<br />
Housing<br />
Median Home Value $265,812 $218,925 $224,471<br />
Median Year Built 2001 1975 1965<br />
Income<br />
Average Household Income $59,538 $66,167 $70,851<br />
Medium Household Income $49,374 $51,979 $56,050<br />
Consumer Spending<br />
Total Businesses 157 326 466<br />
Total Number <strong>of</strong> Employees 1,384 2,422 3,169<br />
2016 Consumer Spending $30,310 $94,168 $144,063<br />
Projected 2021 Consumer Spending $34,056 $104,855 $158,387<br />
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Market Overview<br />
DRIVE TIME MAP<br />
10 Miles<br />
15 Miles<br />
20 Miles<br />
25 Miles<br />
Drive Time Map<br />
Miles<br />
Destination<br />
8 McKinney<br />
14 Allen<br />
30 Miles<br />
35 Miles<br />
40 Miles<br />
45 Miles<br />
22 Plano<br />
27 Richardson<br />
32 Addison/The Colony<br />
37 Lewisville/Farmers Branch<br />
41 Downtown Dallas<br />
46 DFW Airport<br />
12
Market Overview<br />
MARKET AREA DYNAMICS<br />
Tapestry segmentation (as seen below) provides an accurate, detailed description <strong>of</strong><br />
America’s neighborhoods – U.S. residential areas are divided into 67 distinctive<br />
segments based on their socioeconomic and demographic composition, then further<br />
classified into LifeMode and Urbanization Groups. The result is a detailed picture <strong>of</strong> the<br />
socioeconomics and demographics as well as attitudes and brand preferences <strong>of</strong><br />
people in a given area.<br />
Southern Satellites 41%<br />
Most <strong>of</strong> us are settled, married couples who own single family houses or<br />
mobile homes. You can find us in the more rural outskirts <strong>of</strong> metropolitan<br />
areas, mostly in the South. We work in agriculture, manufacturing, health<br />
care, retail, and construction. We shop at Walmart and the convenience<br />
store; we look <strong>for</strong> bargains and aren’t particularly concerned about<br />
brands or quality. We enjoy life in the country; we fish, hunt, own pets, and<br />
work on our own vehicles.<br />
Southern Satellites 23%<br />
In the last decade, our neighborhoods changed from country to semirural<br />
as the housing boom expanded into the outer suburbs. We’re<br />
conservative, family-oriented young couples, many with children. Family,<br />
faith, and country are standards we follow. We’re thrifty, preferring to buy<br />
American and take vacations in the US. Looking <strong>for</strong>ward into the future,<br />
we’re saving, but willing to assume some debt now.<br />
Down The Road 18%<br />
We live in low-density, semi-rural neighborhoods in large metro areas in<br />
the South, West, and Midwest. Nearly half <strong>of</strong> us live in mobile homes.<br />
We’re young, diverse, married couples or single parents, with the highest<br />
proportion <strong>of</strong> Native Americans <strong>of</strong> any Tapestry Segment. Family comes<br />
first; we value tradition and preserve our time-honored customs. Incomes<br />
are low; some are living below the poverty level. We shop <strong>for</strong> groceries,<br />
clothes, and medications at Walmart.<br />
13
Market Overview<br />
MARKET AREA DYNAMICS<br />
Proximity to Major Employment Centers<br />
The property is ideally located in proximity to the major arterial routes which provide commuters with direct access to the major employment centers in<br />
North Texas. These include Legacy Business Park in Plano, home to J.C. Penney, FedEx, HP Enterprise Services and the North American headquarters <strong>for</strong><br />
Toyota, currently under construction. Liberty Mutual announced in April, 2015 its plans to have 5,000 employees working on a new campus in Legacy by<br />
the end <strong>of</strong> 2017. FedEx has built its new national headquarters in the same area and has been at the site since mid-year 2015.<br />
State Farm Insurance will locate 8,000 employees and occupy 2 million square feet in CityLIne, a $1.5 billion complex in Richardson. The project is just<br />
south <strong>of</strong> Plano on the Bush Turnpike and east <strong>of</strong> U.S. 75. Raytheon has also announced plans to locate in the complex. CityLine is just over 30 minutes in<br />
drive time from <strong>Lavon</strong> Esates.<br />
Overall, the Dallas area is home to 18 Fortune 500 companies including Exxon Mobil, AT&T, Texas Instruments, and others. Dallas/Fort Worth is ranked fifth<br />
among metropolitan areas <strong>for</strong> Fortune 500 companies.<br />
Top Employers in Collin County<br />
Business<br />
Employees<br />
Alliance Data Systems 16,000<br />
Texas Instruments 9,100<br />
Bank <strong>of</strong> America Home Loans 8,000<br />
JC Penney Headquarters 7,964<br />
Cinemark Holdings 6,997<br />
Plano Independent School District 6,500<br />
Various Toyota Suppliers 6,000<br />
Frisco Independent School District 5,000<br />
Capital One Finance 4,500<br />
LifeCare 4,500<br />
HP Enterprise Services 4,500<br />
AT&T 4,300<br />
Nortel 4,300<br />
Toyota Motor Corp. (2017) 4,000<br />
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Market Overview<br />
MARKET AREA<br />
MARKET AREA DYNAMICS<br />
Monaco <strong>Estates</strong><br />
CR 407 and FM 75<br />
PRINCETON, TEXAS<br />
<strong>Princeton</strong><br />
The City <strong>of</strong> <strong>Princeton</strong> is located eight miles east <strong>of</strong> McKinney, nine miles due<br />
east <strong>of</strong> U.S. 75 and one mile north <strong>of</strong> Highway 380, one <strong>of</strong> the major growth<br />
corridors in North Texas. Lake <strong>Lavon</strong>, Collin County’s principal fresh water<br />
supply, is located 3 miles southeast <strong>of</strong> <strong>Princeton</strong>.<br />
City services include a chamber <strong>of</strong> commerce, public library, police<br />
department, and a community park. The <strong>Princeton</strong> Independent School<br />
District is a 3-A district and was named a T-STEM (Science, Technology,<br />
Engineering, and Math) Academy in 2014. The district includes three<br />
elementary schools, one intermediate school, one junior high school, and one<br />
high school. Area hospitals include Baylor Hospital <strong>of</strong> McKinney, North Central<br />
Medical Center in McKinney and Presbyterian Hospital <strong>of</strong> Allen.<br />
The <strong>Princeton</strong> Independent School District is a rural school system covering 60<br />
square miles, serving not only the city <strong>of</strong> <strong>Princeton</strong> but also the surrounding<br />
communities <strong>of</strong> Culleoka, Lowry Crossing, Branch, Climax, and the west side <strong>of</strong><br />
Lake <strong>Lavon</strong>. People here enjoy the best <strong>of</strong> both worlds: country living within an<br />
hour's drive <strong>of</strong> all the benefits <strong>of</strong> the Metroplex.<br />
<strong>Princeton</strong> High School<br />
Lake <strong>Lavon</strong><br />
<strong>Princeton</strong> High School Stadium<br />
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