Southwest corner of Stacy Road and Angel Parkway (Malone), Allen, Texas 75002
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Lost Creek Village Aerial View Market Overview 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 pace. 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 current estimated populations of Fairview and Allen are 5,700 and 56,000, respectively. 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. |
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About the Lost Creek Village Area Profile of Fairview: Population Estimates and Single
Family Home Construction
Fairview is ranked first in the Metroplex for average home
prices for single family construction. Average Price of Homes Sold through February 2004: $163,548 |
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