Keller - Roanoke - Northeast Fort Worth Edition - Jul. 2020

KELLER ROANOKE NORTHEAST FORTWORTH EDITION

REAL ESTATE

VOLUME XX, ISSUE XX  XXXXXXXXXX, 2020

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2020EDITION

VOLUME 2, ISSUE 3  JULY 29AUG. 25, 2020

"THE SUPPLY IS REALLY LOW, AND THE DEMAND IS REALLY HIGH, SO

IMPACTS

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PRICES ARE CLIMBING."

Darin Davis, Realtor, Keller Williams Realty

WESTLAKEWEALTH MANAGEMENT

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Housingmarket stays strong following COVID19 slowdown Concordia, located in Keller, is one of dozens of residential housing projects underway in the Keller-Roanoke-Northeast Fort Worth area . (Ian Pribanic/Community Impact Newspaper)

BY IAN PRIBANIC

to relocation activity and job growth, Hillwood Communities President Fred Balda said. The rst signs of a “pause” in the market occurred in the mid- dle of March and lasted for about six weeks, he said. “Basically, the economy just shut down,” Balda said. “We got cut in half from what we were experiencing

[before the pandemic], but we were happy with that.” Home sales at popular residential communities in North Fort Worth, such as Pecan Square and Harvest, dropped by 50% during the rst three weeks of the pandemic, Balda said. Hillwood, which was selling roughly CONTINUED ON 18

While the COVID-19 pandemic created a temporary freeze in home sales, demand for residential housing remains high, according to real estate experts in the Keller-Roanoke-North- east Fort Worth area. On the heels of a solid 2019, pre-pan- demic home sales were “robust” due

HORIZON 76

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SUPPORT LOCAL JOURNALISM

Districts required tobegin school year with remote instruction

Survey Says

Ocials with Keller ISD and Northwest ISD administered surveys to

district parents over the summer in order to gauge parents’ and students’ preference for in-person or virtual instruction.

Please join your friends and neighbors in support of Community Impact Newspaper ’s legacy of local, reliable reporting by making a contribution. Any amount matters. Together, we can continue to ensure our citizens stay informed and keep our local businesses thriving. Become a #CommunityPatron

BY IAN PRIBANIC

Headed into the 2020-21 school year, district ocials are still contending with the impact of COVID-19 after being forced to pivot to remote learning models at the end of last school year. On July 21, Tarrant County health ocials announced that public and private schools in the county will be required to oer remote learning to begin the fall semester. The order requires districts, including Keller and Northwest ISDs, to provide remote-only instruction until Sept. 28. “We will still be asking families in the coming days to commit to participating in either in-person or remote instruction when Keller ISD campuses are able to reopen,” said Shellie Johnson, CONTINUED ON 20

Northwest ISD

Keller ISD

In-person only

In-person only

69.2% 18.3% 12.5%

55% 34%

Online only

Combination

Online only

11%

Undecided

COMMUNITYIMPACT.COMCIPATRON

SOURCES: KELLER ISD, NORTHWEST ISDCOMMUNITY IMPACT NEWSPAPER

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KELLER - ROANOKE - NORTHEAST FORT WORTH EDITION • JULY 2020

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THIS ISSUE

CONTENTS IMPACTS

HIGHLIGHTS FROMTHISMONTH

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Now Open, Coming Soon &more TRANSPORTATIONUPDATES 8 Ongoing projects in Northeast Fort Worth CITY& SCHOOLS 9

MARKET TEAM GENERAL MANAGER Cass Clements, cclements@communityimpact.com EDITOR Ian Pribanic GRAPHIC DESIGNER Katherine Borey ACCOUNT EXECUTIVE Arlin Gold

FROMCASS: Join us this month as our team takes a look at how the real estate market has changed since 2019, provides updates on new developments in your neighborhoods and details plans for how school districts are navigating the upcoming academic year. Cass Clements, GENERALMANAGER

Latest local news HEALTH CARE

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Texas businesses seek guidelines for employees with positive COVID19 cases

METRO LEADERSHIP PUBLISHER Christal Howard MANAGING EDITOR Valerie Wigglesworth ART PRODUCTIONMANAGER Breanna Flores CORPORATE LEADERSHIP PUBLISHERS AND FOUNDERS John and Jennifer Garrett GROUP PUBLISHER Traci Rodriguez EXECUTIVE EDITOR Joe Warner John and Jennifer Garrett began Community Impact Newspaper in 2005 in Pugerville, TX. The company’s mission is to build communities of informed citizens and thriving businesses through the collaboration of a passionate team. Today, we operate across six metropolitan areas, providing hyperlocal, nonpartisan news produced by our full-time journalists in each community we serve. BECOMEA#COMMUNITYPATRON CREATIVE DIRECTOR Derek Sullivan SALES DIRECTOR Tess Coverman WHOWE ARE Newspaper’s legacy of local, reliable reporting by making a contribution. Together, we can continue to ensure citizens stay informed and keep businesses thriving. COMMUNITYIMPACT.COMCIPATRON CONTACT US 7460 Warren Parkway, Ste. 160 Frisco, TX 75034 • 6822231418 PRESS RELEASES KRNnews@communityimpact.com SUBSCRIPTIONS communityimpact.com/subscriptions © 2020 Community Impact Newspaper Co. All Rights Reserved. No reproduction of any portion of this issue is allowed without written permission from the publisher. Please join your friends and neighbors in support of Community Impact SUPPORT LOCAL JOURNALISM

Real EstateEdition

FROM IAN: Despite the turmoil surrounding the COVID-19 pandemic, the Keller, Roanoke and Northeast Fort Worth area is still thriving. If there’s one thing readers take away from this month’s edition, I hope it is how resilient so many local business owners, educators and neighbors have been in the face of an unprecedented health crisis. Ian Pribanic, EDITOR

MARKET AT A GLANCE Annual real estate data for Keller, Roanoke, Northeast Fort Worth

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THIS ISSUE BY THE NUMBERS

Transportation projects 2

Local sources 18

New businesses 3

Home improvement ideas 3

DEVELOPMENT UPDATES

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INSIDE INFORMATION Understanding renancing BUSINESS FEATURE Westlake Wealth Management REAL ESTATE Residential market data DINING FIRST LOOK

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KELLER  ROANOKE  NORTHEAST FORT WORTH EDITION • JULY 2020

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IMPACTS

IAN PRIBANIC/COMMUNITY IMPACT NEWSPAPER

Businesses that have recently opened or are coming soon, relocating or expanding

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IAN PRIBANIC/COMMUNITY IMPACT NEWSPAPER

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at 870 E. SH 114, Roanoke. 817-840-7525. www.hatcreekburgers.com REOPENINGS 4 Private fitness studio Zen Yoga Roanoke reopened May 18 after a two- month closure due to COVID-19. The studio relocated to its newest location at 610 E. Byron Nelson Blvd., Ste. 105, Roanoke, in January. Zen Yoga offers studio space for traditional yoga prac- tices throughout the week. Classes are available for all skill levels. 817-371-8821. www.zenyogaroanoke.com 5 The Birch Racquet and Lawn Club, located at 660 Keller-Smithfield Road, Keller, reopened March 20 to allow mem- bers to utilize outdoor tennis courts. The club has implemented COVID-19-related rules of six-foot social distancing and a maximum of four players per court. Ac- cording to staff, the club’s indoor facility, which will feature multiple courts and a café, is expected to open near the end of August. 714-655-3903. www.thebirch.com COMING SOON 6 Due to a $70 million economic incentive package approved in June by Fort Worth City Council, electric motor company Linear Labs will develop a manufacturing and research facility in the Alliance area by 2023. The company specializes in developing more efficient electric motors. The new facility will be located near Alliance Airport at 2060 Ea- gle Parkway, Fort Worth. 817-381-1098. www.linearlabsinc.com 7 A Tommy Tamale Market & Café loca- tion is expected to open in late August or early September at 208 N. Main St., Keller,

according to staff. The café will occupy a storefront that was vacated by Tres Casas in July. Tommy Tamale Market & Café lo- cations offer dine-in and to-go, along with BYOB options. The café serves a variety of Tex-Mex food, such as burritos, quesadil- las, nachos, award-winning tamales and a selection of salsas. There is an additional Tommy Tamale location at 1689 W. North- west Hwy., Grapevine. 817-360-6385. www.tommytamale.com 8 A Fyzical Therapy office is expect- ed to open Sept. 1 at 409 N. Oak St., Roanoke. The therapy provider accepts Medicare and most major insurers and will host a lunch-and-learn Aug. 31, featuring free fall screenings and anal- ysis. Fyzical Therapy provides all types of therapy, with a focus on balance and fall prevention using an overhead rail system. 682-502-4440. http://fyzical.com/roanoke-tx 9 A new Aldi supermarket location is coming soon to Northeast Fort Worth at 5129 Golden Triangle Blvd., Fort Worth. There are also locations at 8977 Tehama Ridge Parkway, Fort Worth, and 5728 N. Tarrant Parkway, Fort Worth. Aldi locations offer weekly specials on a wide selection of products. Locations also offer wine and beer, baby supplies and seasonal products. 855-955-2534. www.aldi.us RELOCATIONS 10 Private Christian school Trinity Preparatory Academy will relocate to a new facility for the 2021-22 school year. Crews are expected to break ground on the project in August at the intersection of Timberland Boulevard and North Caylor Road, according to school officials. The college-style school serves kindergarten through 12th grade and is currently locat-

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WESTERN CENTER BLVD.

NOWOPEN 1 Fast-paced coffee shop 151 Coffee opened July 9 at 1200 Hwy. 377, Roanoke. All 151 Coffee shops are drive-thru-only stores, and each store has two drive-thru lanes, according to the company website. Menu items, such as coffee and blended energy drinks, are served “faster than any- one,” per the site. There is one additional store located in the North Fort Worth area at 6244 Rufe Snow Drive. 682-325-2124. www.151coffee.com 2 Horizon 76 American Grill House officially opened June 19 at 1821 S. Main St., Keller. The restaurant serves “classic” 820

American meals “done right,” owner Jeff Lowery said. The food, such as burgers and steaks sourced from nearby Z Bar Cattle Co., includes a number of local ingredients to provide a “quality experi- ence,” he said. 817-420-7676. www.horizon76.com 3 Hat Creek Burger Co. opened during the first week of July at 5300 Golden Tri- angle Blvd., Fort Worth. Hat Creek Burger Co. serves breakfast, lunch and dinner op- tions, including breakfast tacos; chicken; and “hats,” or burgers, such as The Classic and a make-it-your-own option. There is one other Hat Creek Burger Co. in the Keller-Roanoke-Northeast Fort Worth area

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ed at 129 Pecan St., Keller. 817-683-1453. www.trinityprepkeller.org ANNIVERSARIES 11 Keller-based juice bar Lisa’s Lem- onade celebrated one year in business in April at 136 Olive St. in Old Town Keller. The juice bar offers an organic, sweet lem- onade option that uses no cane sugar and is only 15-30 calories per bottle, according to the company’s website. Flavors include original, strawberry and limeade. 817-766-7729. www.lisaslemonade.com 12 Traditional men’s haircut option, Dis- trict Barbershop celebrated a one-year anniversary at its Alliance location on May 7. The barbershop, located at 3529 Heritage Trace Parkway, Ste. 151, Fort Worth, specializes in classic cuts, fades and hot-towel shaves. 817-420-9552. www.districtbarbershop.com 13 Serving the Northeast Fort Worth and Keller areas, Liquorland celebrated one year in business June 6. The store, located at 4940 N. Tarrant Parkway, Fort Worth, offers a wide selection of wine, beer and spirits. Expert advice, educa- tional classes, tastings and other events are also available, according to the store’s FEATURED IMPACT REOPENING After nearly a three-month hiatus due to COVID-19 restrictions, Northeast Fort Worth restaurant Stevie’s Diner officially reopened June 19. The restaurant is adhering to the 50% capacity guidelines set by state and county officials, owner Steve Prochaska said. Tables have been rearranged in the dining room; employees are wearing masks and undergoing health checks; a hand sanitizing station is available for guests; oft-touched surfaces are being cleaned more frequently; and the patio has been reopened for guests who may

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IN THE NEWS 14 Keller City Council gave its final stamp of approval June 16 for the city’s first liquor store: a Spec’s Wine, Spirits & Finer Foods . Council unanimously approved a site plan for the more than 12,000-square-foot building, which will be located on 1.71 acres at 100 Chandler Road, Keller, adjacent to Natural Grocers. Spec’s offers a large assortment of wine, spirits, beer, cheese and other foods, according to the company’s website. 888-526-8787. www.specsonline.com CLOSINGS 15 Frozen yogurt shop Muggle Shakes closed at Alliance Town Center on June 28. According to a company announce- ment, all three Dallas-Fort Worth locations will close, including the Alliance location at 9409 Sage Meadow Trail, Ste. 101, Fort Worth. Muggle Shakes offered frozen yogurt “with a twist,” according to the company’s website. 817-886-8767. www.muggleshakes.org 16 Twisted Root Burger Co. filed for Chapter 11 bankruptcy June 8, according to court documents obtained by Commu- nity Impact Newspaper . As a result, all 14 Texas locations, including a location at 101 S. Oak St., Roanoke, are temporarily closed. 817-490-6628. www.twistedrootburgerco.com feel more comfortable outside, he said. “We’re doing what we can to make sure we’re being as safe as we can for our employees and customers,” Prochaska said. Stevie’s Diner, located at 5500 N. Tarrant Parkway, Ste. 132, Fort Worth, serves traditional breakfast options, such as eggs, bacon, hash browns and chicken-fried steak. 817-656-0822. www.steviesdiner.com

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KELLER - ROANOKE - NORTHEAST FORT WORTH EDITION • JULY 2020

TRANSPORTATIONUPDATES

NORTHEAST TARRANT INTERNAL MEDICINE ASSOCIATES Servicing DFW for over 20 years

BY IAN PRIBANIC ONGOING PROJECTS

HERITAGE TRACE PKWY.

35W

OLD DENTON RD.

N. TARRANT PKWY.

KELLER-HICKS RD.

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Expect to Be Treated Well Adult Medical Care for Life Marc Chapman, MD • Ronald Chio, MD • Eva Mina, MD • Rebeca Sharp, MD • Phu Truong, DO Now Offering Telehealth Visits Tarrant Pkwy. N 35W 287 8740 Medical City Way, Fort Worth, Texas 76177 NEW LOCATION 817-358-5500 | NETIMA.ORG

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Fort Worth flood monitoring upgrades As part of broader improvements to the city’s flood control system, monitoring locations in Fort Worth are receiving upgrades to help warn drivers of flooded roadways. Sensors at 53 city locations that “typically experience high water during rain events” will receive the upgrades, according to city officials. Two locations are in the Northeast Fort Worth area: at A 2900 Keller Hicks Road, Fort Worth, near Old Denton Road; and on B Alta Vista Road near the intersection with Golden Triangle Boule- vard. Upgrades to monitoring locations will allow real-time data transmission from sensors that trigger low-water road crossing signs. According to officials, the signs use flashers to warn drivers to turn around when the water level is danger- ous and shut off once water recedes to a safe level. Timeline: 2018-2020 Cost: $1.2 million Funding source: city of Fort Worth

Basswood Boulevard on-ramp closure The city of Fort Worth announced the on-ramp to northbound I-35W from Basswood Boulevard will close begin- ning June 19. Traffic in the area will be redirected to the next available entrance at Heritage Trace Parkway. While the Basswood entrance remains closed through spring 2021, an additional I-35W access point will be available at Western Center Boulevard, the statement said. Despite safety guidelines put in place due to COVID-19, work continues on the North Tarrant Express project. The $662 million Phase 3C of the North Tarrant Express will add two northbound and two southbound toll lanes in order to supplement previously completed toll lanes along I-35W between North Tarrant Parkway and downtown Fort Worth. Timeline: June 19-spring 2021 Cost: $662 million Funding source: NTE Mobility Partners

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ALL INFORMATION ON THIS PAGE WAS UP TO DATE AS OF JULY 6. NEWS OR QUESTIONS ABOUT THESE OR OTHER LOCAL TRANSPORTATION PROJECTS? EMAIL US AT KRNNEWS@COMMUNITYIMPACT.COM.

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

CITY&SCHOOLS

News from Keller, Roanoke and Northeast Fort Worth

BY IAN PRIBANIC

NUMBER TOKNOW $333million On June 22, the Keller ISD board of trustees adopted a budget of $333,476,819 for the 2020-21 school year, which represents a decrease of 1.18% from the previous year. For the second straight year, the budget is also expected to provide a surplus—$137,589 in total, officials said. “About 65% of money is money spent in the classroom,” KISD Chief Financial Officer Mark Youngs said. “So, 65 cents of every dollar is spent in the classroom, which is not unusual. Our core business is educating children.” Top 5 expenditures for the 2020-21 budget • Instruction: $208M • Facility maintenance: $28.5M • School leadership: $20.4M • Transportation: $10.6M • Extracurricular activities: $10.1M SOURCE: KELLER ISD/COMMUNITY IMPACT NEWSPAPER Fort Worth City Council Meets at 7 p.m. three times each month on Tuesdays. www.fortworthtexas.gov Keller City Council Meets at 7 p.m. the first and third MEETINGSWE COVER Meets at 7 p.m. the second and fourth Tuesdays of each month. www.roanoketexas.com Keller ISD Meets monthly; dates, times and locations may vary. www.kellerisd.net Northwest ISD Meets monthly at 6:30 p.m.; dates may vary. www.nisdtx.org Tuesday of each month. www.cityofkeller.com Roanoke City Council

Keller increases homestead exemption

Homestead exemption rate

+2%

KELLER City Council voted unanimously June 16 to approve an increase to the city’s homestead exemption for the fifth consecutive year. The 2% increase approved by council now brings the total home- stead exemption for the city of Keller to 14%. “That’s one of the multiple options we have of providing tax relief for our citizens,” Keller Finance Director Aaron Rector said. “From fiscal year 2015-16 to the

current year, we’ve actually reduced the tax rate by 10% ... down to $0.3999.” Along with a 14% homestead exemption, Keller residents have additional local options to mitigate property taxes, such as a $40,000 exemption for residents age 65 and over and a $10,000 disability exemption, Rector said. “We are about 17% of the [prop- erty] tax bill,” Rector said. “We are doing what we can on our portion.”

2019: 12%

2020: 14%

$231

in average additional savings for Keller homeowners

SOURCE: CITY OF KELLER/COMMUNITY IMPACT NEWSPAPER

Voters renewtax for crimecontrol district

Farmersmarket open with special hours for at-risk residents ROANOKE The Roanoke Farmers Market will run every Saturday through the month of September. City officials announced May 22 the farmers market will be moved to a new location within the Roa- noke City Hall plaza. The market will operate under adjusted hours from 8-9 a.m. for senior citizens and residents with health compli- cations and from 9 a.m.-noon for the general public, according to the announcement. “For the health and safety of our community and farmers, we have new protocols in place for the 2020 farmers market,” officials said. New guidelines include social distancing of 6 feet or more between vendors and shoppers; no customer handling of products; and no sam- pling, demonstrations or live music.

FORTWORTH The July 14 special election saw strong support for the continuation of the Fort Worth Crime Control and Prevention District and an associated half-cent sales tax. Fort Worth residents voted in favor of extending the CCPD by a margin of 64.36% to 35.64%with unofficial results from all precincts posted in the early hours of July 15. Voters were asked “whether the Fort Worth Crime Control and Prevention District should be con- tinued for 10 years and the crime control and prevention sales tax should be continued for 10 years.” Established in 1995 following high crime rates in the city in the 1980s,

the FWCCPD provides funding for “some of the staff and equipment” for the Fort Worth Police Depart- ment, according to city officials. Since the district’s inception, the number of “Part I” crimes, such as murder, rape, motor vehicle theft and arson, per 100,000 residents has decreased by 63%, officials said. “The CCPD provides additional officers to specialized units and patrol divisions to respond to emerging crime trends, target vio- lent crime and work on getting the most active offenders off the street,” Police Chief Ed Kraus said.

AGAINST: 19,642 (35.64%)

FORTWORTH SPECIAL ELECTION Votes to continue the Crime Control Prevention District and an associated half-cent sales tax for 10 years:

FOR: 35,476 (64.36%)

SOURCE: TARRANT COUNTY/COMMUNITY IMPACT NEWSPAPER

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KELLER - ROANOKE - NORTHEAST FORT WORTH EDITION • JULY 2020

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

HEALTH CARE Texas businesses not required to disclose positive COVID-19 cases

FROM REOPENING TO CLOSING TEXAS This timeline tracks reopening efforts amid the COVID-19 pandemic in Texas as well as the recent surge in cases and subsequent re-closures. This information is accurate as of press time July 22. SOURCES: WORLD HEALTH ORGANIZATION, CENTERS FOR DISEASE CONTROL AND PREVENTION/COMMUNITY IMPACT NEWSPAPER May 1 After the expiration of stay-at-home orders that had been in effect since March, May 1 marked the beginning of Gov. Greg Abbott’s first statewide phase of economic reopening. Abbott’s plan allowed select businesses to open with limited service. May 18 Abbott announced Texas was moving into Phase 2 of its reopening plan, with openings planned for child care services, bars and other businesses.

Tarrant County Judge Glen Whitley announced that wearing a face mask would be required in all businesses. June 25 June 26 In the wake of surging coronavirus cases statewide that led to concerns about hospital capacity, Gov. Greg Abbott issued an executive order that closed all of the state’s bars and restricted restaurant capacity from 75% back down to 50%. Ahead of a weekend of potential Fourth of July festivities, Gov. Greg Abbott ordered all Texans to wear a face covering over their nose and mouth in public spaces. July 2 Texas Education Agency guidelines require districts to offer on-campus classes, but parents can request a student be offered virtual instruction. July 7

BY IAN PRIBANIC

to announce the positive test pub- licly in order to protect the health and safety of customers, his young staff and their families, he said. “Orders don’t mandate that you disclose that you had [a positive test], and my guess is the majority of places aren’t,” Armand said. For many businesses, the uncer- tainty of the pandemic is forcing owners to reinvent previously successful ways of doing things, Texas Sen. Kelly Hancock, R-Fort Worth, whose District 9 encom- passes portions of Tarrant and Dallas counties. The biggest challenge moving forward will be “mentality,” he said. “We have to continue to encour- age people to act responsibly,” Hancock said. “It’s OK to go out and eat and do life, ... but we have to do it responsibly. It’s a balance.” According to officials with the Texas Restaurant Association, the state has not released recommen- dations for businesses that learn of an employee who tested positive for COVID-19, other than to say the employee cannot work until a quarantine period has passed. TRA officials recommend that owners follow CDC guidelines. “Even when a business follows all of the state and federal COVID-19 protocols, it is very likely that some- one who comes into that business will later be diagnosed with COVID- 19,” according to a TRA news release. “Restaurants are no exception [and] continue to follow strict sanitation,

Amid public health concerns due to the COVID-19 pandemic, businesses across Texas are looking for guidance in the event that employees test positive for the virus. Along with six-foot social dis- tancing and limiting groups to 10 or fewer, the latest order from Gov. Greg Abbott requires all employees and customers in the state to wear a face covering. If an employee of a business or restaurant tests positive for COVID- 19, establishments are encouraged, but not required, to follow Centers for Disease Control and Prevention and state guidelines. “We have to do what is important to protect the health and safety of Texans,” Rep. Nicole Collier, D-Fort Worth said. “Compliance is key. Health experts have already indicated what works to prevent the spread of the virus.” If an employee tests positive for COVID-19, guidelines from CDC and state officials include quarantining the employee, reporting the posi- tive test to public health officials, identifying anyone who was in contact with the sick employee and disinfecting the facility. “The big thing is to make sure the person who tested positive and everyone who worked with them is OK,” said Matt Armand, owner of Big Daddy’s Ship Store. The store learned of an employee who tested positive for COVID-19 on June 22. Armand made the decision

May 26 Gov. Greg Abbott issued a

proclamation allowing water parks as well as other services and activities to reopen under Phase 2 of the state reopening plan.

July 17

Updated TEA guidelines allow school districts to offer online-only classes for the first four weeks of the 2020- 21 school year.

social distancing and health screen- ing protocols.” Family-owned Mexican restaurant Maria Cucas in Keller made the decision to close temporarily after an employee tested positive June 30. According to staff, the decision to close for a short time was based on the safety of employees and customers. “The safety of everyone has been our top priority. ... We feel it is

July 21

By Tarrant County executive order, the start of in-person learning at schools will be delayed until Sept. 28. The order affects schools in Keller and Northwest ISDs.

important to be transparent about the situation,” the restaurant said in a statement.

www.darindavis.com | 817.691.1711 We find solutions that are tailored to you.

2106 E State Hwy 114 #100, Southlake, TX 76092 Darin Davis, Realtor ®

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KELLER - ROANOKE - NORTHEAST FORT WORTH EDITION • JULY 2020

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2020 REAL ESTATE EDITION

COMPILED BY IAN PRIBANIC

DAYS ON THEMARKET AVERAGE July 2018-June 2019

201920 KELLER  ROANOKE  NORTHEAST FORTWORTH REAL ESTATE MARKET AT A GLANCE 377 76177

July 2019-June 2020

76177

76248 +2%

41

49

50

51

114

76262

+19.5%

Fewer area homes were sold between July 2019 and June 2020 than in the previous comparable 12-month period. The average sales price uctuated slightly between the two years, and days spent on the market varied depending on the area.

76244 -2.7%

76262

170

37

36

62

63

+1.6%

76244

76248

35W

SOURCE: GREATER FORT WORTH ASSOCIATION OF REALTORSCOMMUNITY IMPACT NEWSPAPER

N

HOME SALES PRICE AVERAGE

July 2018-June 2019

July 2019-June 2020

HOMES SOLD NUMBER OF

July 2018-June 2019

July 2019-June 2020

$218,556

$320,777 +4.37% $334,794 $398,720 -0.76% $395,707

655

948

-1.15%

-10.69%

991 +4.54%

$216,035

585

$181,307

1,098

2,390

+4.45%

1,189 +8.29%

2,246 -6.03%

$189,370

TOTAL HOMES SOLD IN KELLER, ROANOKE AND NORTHEAST FORTWORTH

Studying the stats 76244

76248: 18.62%

76244: 46.95%

5,091 homes sold 5,011 homes sold

area with highest median home price in last year area with greatest gain in median home price in past year

76262 76244

area with the most homes sold last year

76177: 12.9%

76262: 21.57%

76262: 23.73%

76248: 19.78%

area with the greatest gain in days on the market in past year

76177

July 2018-June 2019 July 2019-June 2020

76177: 11.67%

76244: 44.82%

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

REAL ESTATE 2020EDITION

DEVELOPMENT UPDATES

Developments underway in your community

COMPILED BY IAN PRIBANIC

KELLER LIQUOR STORE TO BEGIN CONSTRUCTION

Keller City Council gave its nal stamp of approval June 16 for the city’s rst liquor store: a Spec’s Wine, Spirits & Finer Foods. Council unanimously approved a site plan for the more than 12,000-square- foot building, which will be located on 1.71 acres at 100 Chandler Road, Keller, adjacent to Natural Grocers. Spec’s oers a large assortment of wine, ELECTRICMOTOR PLANT COMING TOALLIANCE In June, Fort Worth City Council approved a nearly $70 million economic incentive package that will allow electric motor company Linear Labs to develop a manufacturing facility in the Alliance area. The 500,000-square-foot manufacturing plant is expected to create at least 1,200 new jobs during the next decade. The plant will focus on the research and production of electric motors for a number of industries, such as electric vehicles and robotics.

KELLER PKWY.

N

spirits, beer, cheese and other foods, according to the company’s website. Space: 12,000 square feet Timeline: TBD

All 35 brownstone residences in downtown Roanoke will be completed by the end of next year. (Ian Pribanic/Community Impact Newspaper)

DOWNTOWN ROANOKE BROWNSTONES REACH HALFWAY POINT The Residences at City Center, a collection of 35 brownstone residential homes, is nearing the halfway point of construction after breaking ground in August 2019. Due to concerns around COVID-19, prospective buyers decreased in March and April, but trac picked up in May and June, said John Delin, co-owner of Integrity Group, developer of the brownstone project. “Homes are still available in the second and third units, and we’re excited about that. It’s been received so well,” Delin

377

114

156

35W

N

said. “People love that area and want to move downtown and take advantage of an urban lifestyle.” Space: 1,650-2,820 square feet Timeline: August 2019-December 2021

N

Space: 500,000 square feet Timeline: 2021-2023

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KELLER  ROANOKE  NORTHEAST FORT WORTH EDITION • JULY 2020

REAL ESTATE 2020EDITION

INSIDE INFORMATION

COMPILED BY ANNA LOTZ

When interest rates are low, homeowners may look to save money by renancing, which means getting a new mortgage with a better term or interest rate to lower payments. Mortgage rates have steadily declined since November 2018, according to weekly data from Freddie Mac, also known as the Federal Home Loan Mortgage Corp. Matt Frankel, a certied nancial planner and mortgage analyst at The Ascent by Motley Fool—a general personal nance advice resource—shared advantages and disadvantages of the renancing process. REFINANCING U N D E R S T A N D I N G WHAT TOCONSIDER 1. 2. Is the current market rate at least 1% lower than your existing mortgage rate? Are you planning to stay in the same home for at least ve more years ?

HOWTO START

• Always consult multiple lenders to nd the best mortgage rate. Start with your current lender. • Multiple inquiries from mortgage lenders aect an individual’s credit score no more than a single inquiry does .

Renancing isn’t free. … It becomes amath problemof whether the savings you’re going to get fromyourmortgage payment are going to bemore than you’re paying.

MATT FRANKEL, MORTGAGE ANALYST AT THE ASCENT

TRACKINGMORTGAGE RATES

Pros • Can lower monthly mortgage payments • May eliminate private mortgage insurance Cons • Can be costly, as homeowners must pay lender and closing fees again • Requires paperwork THE INS ANDOUTS OF REFINANCING

Although the U.S. weekly average rate for a 30-year xed-rate mortgage is trending downward, rates vary by credit score, Frankel said.

4.0%

3.64%

3.65%

3.31%

3.5%

3.75%

2.98%

3.0%

ANOTHER OPTION

0 2.5%

A homeowner can also choose cash-out renancing, in which an existing mortgage is replaced with a new home loan totaling more than the remaining debt. The dierence is paid in cash, which can be helpful in paying o other debts, as a mortgage is often the lowest-interest loan available, Frankel said.

July 3, 2019 Oct. 10, 2019

Jan. 9, 2019

Apr. 16, 2020

Jul 16, 2020

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

REAL ESTATE 2020EDITION

GUIDE

A guide to home and garden projects with advice from a local business

Homeowners should have their residence inspected professionally at least once a year, said De Anwar Bradley with Palafox Construction Group. Regular maintenance should also be done regarding heating, A/C, roong and pest control, he said. HOME IMPROVEMENT &MAINTENANCE 2020 Keller - Roanoke - Northeast Fort Worth

2

SIMPLE HOME PROJECTS

1 BUILD A FIRE PIT A popular summer project for many homeowners is a re pit, Bradley said. Homeowners have a number of options when it comes to materials, including brick, rock and metal. 2 PAINT AN ACCENT WALL An accent wall can add a splash of color to any home and provides homeowners an easy DIY option for a summer project. Variations of accent walls include solid

colors, stripes and wood or stone.

1

3 ADD HARDWARE TO KITCHEN CABINETS AND BATHROOMS An easy remodeling option for many homeowners is the addition of hardware to kitchen and bathroom cabinets, according to Bradley. From brushed nickel to leather, hardware includes a wide variety of handles, knobs and pull bars.

3

WHEN TO CALL A PROFESSIONAL

Palafox ConstructionGroup 133 E. Sports Parkway, Keller 817-232-3866 www.palafoxconstruction.com

KELLER PKWY.

GOLDEN TRIANGLE BLVD.

Even the smallest tasks can bring on large surprises, said Bradley. If homeowners are unsure whether they are skilled enough to complete the job, they should consult a contractor. Sometimes, extra work is involved in xing a mistake, he said.

377

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from money to life sharing what we know is how we show we care

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377

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Trinity Preparatory Academy admits students of any race, color, national, and ethnic origin to all the rights, privileges, programs, and activities generally accorded or made available to students at the school. It does not discriminate on the basis of race, color, national or ethnic origin in administration of its educational policies, admissions policies, tuition policy, and other school-administered programs.

15

KELLER  ROANOKE  NORTHEAST FORT WORTH EDITION • JULY 2020

BUSINESS FEATURE

BY IAN PRIBANIC

“WE’RE ONE OF THE ONLY FIRMS IN THIS AREA THAT GIVES OUR CLIENTS THE ABILITY TO INVEST IN REAL ASSETS INSIDE THEIR RETIREMENT ACCOUNTS.” MICHAEL FESSLER, MANAGING PARTNER

Westlake Wealth Management is located on Oak Street in downtown Roanoke.

Managing partner Michael Fessler founded Westlake Wealth Management in downtown Roanoke in 2018. (Photos by Ian Pribanic/Community Impact Newspaper)

WestlakeWealthManagement Roanoke rm provides nancial guidance for clients, businesses E stablished in the downtown Roanoke area in 2018, Westlake Wealth Management has become a one-stop shop for nancial was unable to give helpful advice, he said. “It felt like I was always the bearer of bad news. As a preparer, a lot of times, the mistakes have already been made,” Fessler said. “It was dicult. It felt like I was only doing part of the job.”

WestlakeWealthManagement 310 S. Oak St., Ste. 208, Roanoke 682-888-6144 www.westlake-wm.com Hours: Mon.-Fri. 8 a.m.-4 p.m., Sat. by appointment only, closed Sun.

assistance. The wealth management rm has added a num- ber of capabilities to its repertoire over the last 2 1/2 years, Managing Partner Michael Fessler said. The rm specializes in nancial planning, book- keeping, ling taxes and managing retirement and investment accounts, he said. “We have all of these people on our team who can work for business owners and clients,” Fessler said. “Our goal is to change the way people look at nancial planners and accountants.” A former certied public accountant at a large rm, Fessler said he became fed up with the limitations placed on his ability to help clients. He was only allowed to process clients’ returns and

By starting his own rm, Fessler said he now has the freedom to take a comprehensive approach to nancial assistance for clients. At Westlake, a team of CPAs, bookkeepers and management advisers has the ability to take a “deep dive” into clients’ accounts to help them take advantage of as many tax breaks and other opportunities as possible, Fessler said. “They don’t teach this in school, and business owners especially … can take that [nancial] piece o their plate,” he said. “They know we’re watch- ing their bottom line, and they can go do what they do best.”

377

N

REALTOR®, GRI, ABR, RENE

817-718-5840 rebekah.bos.realtor@gmail.com www.rebekahbos.com

16

COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

REAL ESTATE 2020EDITION

REAL ESTATE

Snapshot of the market

MARKET DATA FOR JUNE

HOMEBUYERS MOTIVATED INKELLER, ROANOKE AND NORTHEAST FORT WORTH As mortgage interest rates have dropped to historically low levels, homebuyers in the Keller, Roanoke and Northeast Fort Worth areas are motivated to purchase a home, said Lily Moore with Lily Moore Realty in Westlake. BY IAN PRIBANIC “Interest rates are expected to remain low for the foreseeable future,” she said. “This is a huge incentive for buyers who are ready to purchase.” At the same time, sellers in the area have been more reluctant to list their homes than is typical at this time of the year, Moore said. The result of motivated buyers combined with reluctant sellers has created a lot of competition for homes priced “fairly” on the market, she said. “Homes are going under contract quickly and receiving multiple oers,” Moore said. One thing that can give buyers a competitive advantage in the housing market is “pre-approval,” Moore said. That way, as soon as they are ready to buy, the sale can commence immediately, she said. The Dallas-Fort Worth area is expected to have more home listings as the economy continues to reopen, Moore said. “Motivation for buyers to purchase now is as high as ever, and selling now … may put a house high on the list for many buyers,” she said.

HOMES SOLDAVERAGE DAYS ON THEMARKET 76177 76244

76248

76262

76262

$900,000+

-

-

1/1

7/61

114

76177

$800,000-$899,999

-

-

1/28

3/9

$700,000-$799,999

-

-

4/26

2/34

35W

170

$600,000-$699,999

-

2/97

9/15

11/73

377

$500,000-$599,999

-

2/10

20/27

7/45

$400,000-$499,999

1/266

22/68

19/56

26/86

76248

76244

$300,000-$399,999

13/86

51/33

16/99

27/85

N

$200,000-$299,999

32/25

99/29

8/46

25/17

$199,999 or less

-

-

1/1

-

NUMBER OF NEWLISTINGS

MEDIAN PRICE OF HOMES SOLD WITHYEAROVERYEARPERCENTAGE CHANGE

2019

2020

2019

2020

76177

76244

76248

76262

Sale price

67 73 311 281 152 148 193 181

76177

$550,000

$500,000

+5.77%

76244

$450,000

3.41%

$400,000

76248

$350,000

4.08%

+1.45%

$300,000

$250,000

76262

$200,000

$0

NUMBER OF HOMES UNDER CONTRACT 2019 2020

PERCENT OF ASKING PRICE RECEIVED

2019

2020

WITHYEAROVERYEARCHANGE

76177

76244

76248

76262

42 30 113 80 76 56 74 70

76177

100%

99%

0

0

0.2

0

76244

98%

LILYMOORE REALTY 1301 Solana Blvd., Bldg. 1, Ste. 1505, Westlake 817-344-7034 www.lilymoorerealty.com Hours: Sun.-Sat. 8 a.m.-7 p.m.

97%

96%

76248

95%

0%

76262

MARKET DATA PROVIDED BY GREATER FORT WORTH ASSOCIATION OF REALTORS, COURTESY OF NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS

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KELLER  ROANOKE  NORTHEAST FORT WORTH EDITION • JULY 2020

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