The Allen economy has consistently expanded throughout the
nineties. The gross sales for all major industries have grown over 12%
since 1990. The number of employed residents has increased 47%. There
is currently over 2 million square feet of industrial, office, and
warehouse space in Allen. This constitutes as $260 million in capital
investments and over 4,800 jobs.
Allen more than doubled its 1990 population with a count of
43,686, as of January 1, 2000. The City of Allen projects that this
trend will continue. They are anticipating a 35% increase in population
by the year 2005-an increase of 23,446 residents. By 2010, the
population is expected to increase by another 18,546, a 22% increase.
The current boom in residential development coincides with
the phenomenal population growth. In the past thirty-six months (36),
single-family activity in Allen has been extraordinary. There have
been approximately 4,000 single-family lots constructed, platted or
planned. "Starts and Sales" are following lot development at a healthy
Lost Creek Village is a 8.536-acre retail center within the
city limits of Allen, Texas. It is in the southwest quadrant of Stacy
Road and Angel Parkway (Malone Road). The City of Allen is located in
Collin County, which is in north central Texas. It is approximately 25
miles from the Dallas CBD and 20 miles north of the intersection of
Interstate 635 and U.S. 75. Allen is completely surrounded by
incorporated cities. To the north lie the Cities of McKinney and
Fairview; to the south, the Cities of Parker and Plano; to the east,
the Town of Lucas; and to the west, the City of Plano.
Lost Creek Village is two miles north of the City’s business
district. The site is within the planned, residential community of Lost
Creek Ranch. Construction of the first and second phase of this
development is currently underway.
Lost Creek Village is just across Stacy Road from Fairview,
Texas, a rapidly-growing, upper-income Collin County suburb. The
estimated populations of Fairview and Allen are 5,700 and 56,000,
Due to the property’s location on the boundary of Allen and
Fairview, it can take advantage of the higher-density housing located
in Allen and the higher-value housing located in Fairview. The City of
Fairview ranked first in the Metroplex for average home prices for new,
single-family construction at $573,000 compared to $242,000 in Plano
and $184,000 in Allen.
This rapidly growing area of Collin County has experienced
tremendous housing growth over the past several years due to its
location just east of Central Expressway and north of Plano, which is
currently 97% residentially developed.
The current retail development along Stacy Road has not kept
pace with the housing growth and this intersection is strategically
located to serve the adjacent residential areas. U.S. Homes is
developing Heritage Ranch, a 575-acre golf course, retirement community
with homes priced from $150,000, one mile east of the site.
The property features approximately 674 linear feet of
frontage on Stacy Road and approximately 550 linear feet of frontage on
Angel Parkway (Malone Road).
Stacy Road is presently a two-lane black top road. It is
currently being improved to three lanes and ultimately will become a
six-lane road. Angel Parkway (Malone Road) is a six-lane, divided road.