Grapevine - Colleyville - Southlake Edition | July 2021

GRAPEVINE COLLEYVILLE SOUTHLAKE EDITION

VOLUME 11, ISSUE 5  JULY 3AUG. 7, 2021

ONLINE AT

2021 R E A L E S T A T E E D I T I O N

NewSouthlake park plan brings amenities, space

Making sense of the

red-hot housingmarket

BY SANDRA SADEK

The city of Southlake’s 2035 Parks, Recreation and Open Space Master Plan could help address the city’s need for more green spaces within walking distance of its residents. Funding THE PLAN CONTINUED ON 20 The Southlake Parks Development Corporation generates about $5 million annually from half-cent sales tax revenue to acquire and develop park land.

T H R E E T R E N D S T O W A T C H

Those looking to build a new home or renovate an old one are running into similar complications due to shortages of commodities, such as lumber, and metals, such as copper. THE SUPPLY CHAIN

LOCAL BUILDOUT

Noting fast-rising home prices that are reminiscent of the period in the aughts before the Great Recession, some wonder whether another housing bubble could be looming. BUBBLE CONCERNS

Sales tax collected per dollar spent:

While an increase in inventory would help with market pressure, cities such as Grapevine, Colleyville and Southlake lack a high volume of land available to develop.

8.25¢

6.25¢

goes to the state

goes to the city’s general fund

Construction is ongoing for Shady Brook, a residential development near Grapevine’s city center. An increase in new housing inventory is one factor experts believe could help alleviate pressure in the local real estate market. (Steven Ryzewski/Community Impact Newspaper)

is split among the Crime Control and Prevention District, the Southlake Parks Development Corporation , and the Community Enhancement and Development Corporation

BY STEVEN RYZEWSKI

few more homes than currently allowed on the land. This type of hearing is not a unique occur- rence. The land itself, though, perhaps tells a bigger story. It is a parcel that Ron Stombaugh,

SHADY BROOK DR.

Grapevine City Council called a public hearing June 15 to consider reclassifying a plot of land on Parr Lane from one residential zone to another. If approved, the developer could build a

SOURCE: CITY OF SOUTHLAKECOMMUNITY IMPACT NEWSPAPER

CONTINUED ON 18

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REAL ESTATE EDITION 2021

JOB LISTINGS

HOME IMPROVEMENT INSIDE INFORMATION MARKET AT A GLANCE

14 13 12

IMPACTS

DINING FEATURE

EMPLOYMENT

6

23

25

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Home values have skyrocketed in 2021! Has yours? Call Kim to find out.

21 years of local real estate expertise Colleyville ∙ Grapevine Southlake ∙ Westlake

All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. All measurements and square footages are approximate, but not guaranteed and should be independently verified. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Compass is a licensed real estate broker. Equal Housing Opportunity.

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GRAPEVINE - COLLEYVILLE - SOUTHLAKE EDITION • JULY 2021

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THIS ISSUE

ABOUT US

Owners John and Jennifer Garrett launched the rst edition of Community Impact Newspaper in 2005 with three full-time employees covering Round Rock and Pugerville, Texas. We have expanded our operations to include hundreds of employees, our own printing operation and over 30 hyperlocal editions across three states. Our circulation is over 2 million residential mailboxes, and it grows each month with new residents and developments.

HIGHLIGHTS FROMTHISMONTH

FROMANA: We know many of you have been struggling with nding employees, causing strain on you and your businesses, so we are trying something new. On page 25, we are piloting a new job listings page. We’ll have editorial content as well as advertising spots for local companies to list open positions. We may continue to feature this section, so if you’re interested in participating, please reach out. Ana Erwin, GENERALMANAGER

Community Impact Newspaper teams include general managers, editors, reporters, graphic designers, sales account executives and sales support, all immersed and invested in the communities they serve. Our mission is to build communities of informed citizens and thriving businesses through the collaboration of a passionate team. Our core values are Faith, Passion, Quality, Innovation and Integrity.

FROMSTEVEN: A common thread in both front-page stories this month is that land is at a premium in our communities. Whether it is land for parks or land for homes to relieve pressure in the real estate market, nding that land is a challenge in communities as in-demand as Grapevine, Colleyville and Southlake. Please give those stories a read, and check out our annual real estate guide (see Pages 12-19). Steven Ryzewski, EDITOR

Our purpose is to be a light for our readers, customers, partners and each other.

WHATWE COVER

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REPORTERS Kira Lovell, Sandra Sadek GRAPHIC DESIGNER Ellen Jackson ACCOUNT EXECUTIVE Lexi Canivel METRO LEADERSHIP PUBLISHER Christal Howard MANAGING EDITOR Valerie Wigglesworth ART PRODUCTIONMANAGER Breanna Flores CORPORATE LEADERSHIP GROUP PUBLISHER Traci Rodriguez EXECUTIVE EDITOR Joe Warner CREATIVE DIRECTOR Derek Sullivan SALES &MARKETING DIRECTOR Tess Coverman CONTACT US

BUSINESS &DINING Local business development news that aects you

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GRAPEVINE  COLLEYVILLE  SOUTHLAKE EDITION • JULY 2021

IMPACTS

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

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GRAPEVINE MILLS PKWY.

GRAPEVINE MILLS BLVD.

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DOVE R D .

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6 10

BETHEL RD.

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Not Just Soccer

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S OUTHLAKE BLVD.

COURTESY NOT JUST SOCCER

NORTHWEST HWY.

BALL ST.

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DALLAS RD.

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CONTINENTAL BLVD.

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SOUTHLAKE

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WILLIAM D. TATE AVE.

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GRAPEVINE

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Belong Gaming Arenas

COLLEYVILLE

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HALL-JOHNSON RD.

COURTESY BELONG GAMING ARENAS

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COMING SOON 6 The B-12 Store , known for its injectable vitamins, will be opening a location inside Grapevine Mills at 3000 Grapevine Mills Parkway, Ste. 325, Grapevine. An opening date is set for mid-to-late July. The store offers shots for vitamins B12, C, D3, zinc, magnesium and more. It also offers weight- loss shots and immunity-boosting shots. 928-600-4594. www.theb12store.com 7 Mexican restaurant Mesero will be coming to 1471 E. Southlake Blvd., South- lake, by the end of the year. It is known for its Queso Mesero, its brisket tacos and shrimp-loaded ceviche. www.mesero.net. 8 Image Studios Grapevine , located at 3540 Grapevine Mills Blvd., Ste. 500, is expected to open July 12. The studio will house 28 individual suites rented out to individual makeup and hair pro- fessionals. 904-705-2243. www.imagestudios360.com 9 Cold Stone Creamery will open another franchise store in Town Center

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VILLAGE LN.

GLADE RD.

A R G E R R D .

CUMMINGS DR.

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NOWOPEN 1 Rockbox Fitness opened June 26 at 100 N. Kimball Ave., Ste. 105, Southlake, and will hold a grand opening on July 10. The fitness studio offers high-energy boxing and kickboxing classes in a com- munity setting. 940-279-9109. www.rockboxfitness.com 2 Spa on the Square opened on June 5 in The Village of Colleyville. Located at 97 Village Lane, Ste. 100, Colleyville, the full-service spa also allows individual beauty professionals to rent out their

own private salon. 682-272-4461. www.spaonthesquarecolleyville.com 3 Not Just Soccer opened a new lo- cation at 611 E. Southlake Blvd., South- lake. A grand opening was held June 25. The locally owned and operated store specializes in athletic apparel, including soccer, lacrosse, football and baseball gear. It also has youth and adult clothes, cleats and other equipment. Team jerseys for national and club teams as well as personalized uniforms for local teams are available. 214-528-5006. www.notjustsoccerdfw.com BE DFORD R

4 Fast-casual Mediterranean restaurant Cava opened a new location June 18 at 2175 E. Southlake Blvd., Southlake. The Maryland-based restaurant is known for its build-your-own bowls. Cava also sells spreads, dips and sauces. 469-283-1031. www.cava.com 5 Saint Bernard , known for its ski, swim and lifestyle apparel, opened a new location on June 12. The 13,793-square- foot shop is located at 1275 E. Southlake Blvd., Ste. 401, Southlake, inside the Shops of Southlake. 817-329-0322. www.saintbernard.com

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Persimmons Bar & Grill replaced the former Mulligans Grill at Grapevine Golf Course.

COURTESY PERSIMMONS BAR & GRILL

Colleyville in early September at 5615 Colleyville Blvd. The store special- izes in freshly made ice cream, ice cream cakes and sundaes, including 28 signature creations. A phone number is not yet available. www.coldstonecreamery.com 10 Global esports and technology company Vindex will expand its gaming centers, Belong Gaming Arenas , across the United States with a location opening this fall at 3000 Grapevine Mills Parkway. Featuring high-end gaming consoles and technology through collaborations with industry brands such as PlayStation, XBOX Series X and OMEN by HP, members will be able to represent their hometown Belong team in inter-arena competitions against teams from across the U.S. and the U.K. https://us.belong.gg RELOCATIONS 11 Love to Hear Again Audiology has relocated to 1125 S. Ball St., Ste. 105, in Grapevine as of June 1. Services include FEATURED IMPACT NOWOPEN Grapevine Golf Course’s new modern American restaurant, Persimmons Bar & Grill , opened on June 18. Located at 3800 Fairway Drive, Grapevine, this is Coury Hospitality’s third venture in the city following its successful launch of Hotel Vin and Harvest Hall. The new restaurant and clubhouse, along with other projects, were funded through a $4.8 million bond approved by Grapevine residents in 2017. Coury Hospitality CEO Paul Coury, said the new restaurant will “elevate the Grapevine Golf Course” and is intended to be an upscale venue that is approachable for all. “We really hope to activate it with a lot of unconventional things—music, entertainment—that will bring people here that wouldn’t otherwise come to a

restaurant in a golf course,” he said. Persimmons is the product of the year- long renovation of the golf course’s former Mulligans Grill. The golf course rst opened in 1979. Menu items to try include the pork belly burnt ends, the beet hummus, the street tacos, the Smashburger and the bone-in pork chops. Dessert includes Nutella s’mores and more. 817-410-3355. www.persimmonstx.com

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. The Compass is a trademark of Ameriprise Financial, Inc. © 2021 Ameriprise Financial, Inc. All rights reserved. (02/21)

LAKESIDE VILLAGE BLVD.

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hearing aid consultation, fitting and cleaning as well as custom earmolds and ear cleaning services. 817-722-6156. www.love2hearagain.com RENOVATIONS 12 The Chick-fil-A located at 1235 Wil- liam D. Tate Ave. in Grapevine reopened at a larger location after temporarily closing for renovations. The franchise is known for its chicken sandwiches, waffle fries and shakes. 817-488-4147. www.facebook.com/cfa.williamdtate CLOSINGS 13 Howard Wang’s China Grill has closed its Southlake location. The loca- tion at 1471 E. Southlake Blvd. opened in 2013 and offered Chinese dishes such as Peking duck, various types of stir-fry and roast pork. 817-488-4666. http://hwrestaurants.com/southlake/ index.html

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GRAPEVINE - COLLEYVILLE - SOUTHLAKE EDITION • JULY 2021

TODO LIST

July events

COMPILED BY KIRA LOVELL

ice cream and Victorian lawn games with traditional old-time music. Attendees can bring blankets, lawn chairs and picnics. 7 p.m. $5. Nash Farm, 626 Ball St., Grapevine. 817-410-3185. www.grapevinetexasusa.com 12 THROUGH SEPT. 11 “PLACES PEOPLE STILL TALK ABOUT” PHOTO EXHIBIT The Southlake Historical Society presents a photo exhibit of signicant locations in Southlake, including Grapevine Auction Barn and Cafe, which is considered Texas’ rst integrated cafe, and the grass eld that was the rst home of Carroll football. Mon.-Thu. 10 a.m.-8 p.m., Fri.-Sat. 10 a.m.-6 p.m. Free. Southlake Town Hall lobby, 1400 Main St., Southlake. www.southlakehistory.org 13 GARDEN ROCK PAINTING WORKSHOP Pick out your own smooth river stone to paint a pattern design on, to keep for yourself or give to anyone else. Age 6 and up. Registration required. noon-1 p.m., 2-3 p.m. Free. Southlake Library, 3rd oor, 1400 Main St., Southlake. 817-748-8243. www.cityofsouthlake.com 14 BASTILLE DAY CELEBRATION Grapevine’s Town Square Gazebo will turn into a Parisian park for this

French national holiday. It will feature street food, artisans and French pop music. 5-9 p.m. Free. 325 S. Main St., Grapevine. 800-457-6338. www.grapevinetexasusa.com 16 THROUGH 17 MYSTERY IN THE PARK Grapevine Parks & Recreation and Grapevine Escape present two interactive outdoor mystery shows. Families with children age 5 and up can go back in time to help solve the mystery of the missing mascot in 1864, and those age 13 and up can investigate a reality TV star’s murder on the red carpet. Space is limited, and registration closes July 14. 4-6:30 p.m. (children), 7-9:30 p.m. (teens). $10 (residents), $15 (nonresidents). Grapevine Botanical Gardens, 411 Ball St., Grapevine. 817-410-3450. www.gograpevine.com 23 GLOWCRAZYWITH READING! READING PROGRAMFINALE Celebrate the end of Colleyville Public Library’s summer reading program with a party on the plaza. The event includes a hot air balloon launch, DIY lantern designing and a laser light show by Laser Spectacles. 6:45-9:45 p.m. Free. Plaza at City Hall, 90 Main St., Colleyville. 817-503-1154. www.colleyvillelibrary.com

JULY 24

CLEANUP AT THE NATURE CENTER COLLEYVILLE NATURE CENTER

Keep Colleyville Beautiful hosts this event to clear waste from Little Bear Creek. Long pants and rubber boots are encouraged. The organization will meet at Mill Wood Drive, near the playground. 8:30-10:30 a.m. Free. Colleyville Nature Center, 100 Mill Wood Drive, Colleyville. 817-675-9047. www.facebook.com/KeepColleyvilleBeautiful (Courtesy Keep Colleyville Beautiful, Randy Bright and Rusty Young)

JULY 10 DALLAS VINYL RECORD SHOW Shop for vinyl LP records, 45s, CDs, cassette tapes and more, along with T-shirts, posters and other merchandise. The show hosts more than 40 vendors from Texas and nearby states.

10 a.m.-6 p.m. Early bird access starts at 8 a.m. $8 (general admission), $15 (early bird admission). Grapevine Convention Center, 1209 S. Main St., Grapevine. 210-415-2972. www.vinylrecordshow.com 10 NASH FARM ICE CREAMSOCIAL The Lone Star String Band will accompany an evening of freshly made

Find more or submit Grapevine, Colleyville or Southlake events at communityimpact.com/event-calendar. Event organizers can submit local events online to be considered for the print edition. Submitting details for consideration does not guarantee publication.

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

TRANSPORTATIONUPDATES

COMPILED BY KIRA LOVELL & SANDRA SADEK

North Texas Tollway Authority prices increase by $0.01 The North Texas Tollway Authority announced last month that it had raised toll rates by an average of $0.01 per mile, from about $0.19 to $0.20, eective July 1. This is part of a biennial toll rate schedule approved by the NTTA board of directors. Pay-by-mail customers who do not get a TollTag now will pay toll rates at

least 50% higher. The new rate will aect drivers using the Dallas North Tollway, President George Bush Turnpike, Sam Rayburn Tollway, Addison Airport Toll Tunnel, Lewisville Lake Toll Bridge, Mountain Creek Lake Bridge, Chisholm Trail Parkway and 360 Tollway. NTTA does not receive tax funding and is funded primarily by tolls. Tolls also fund safety and roadside service programs and road maintenance. This will help repay $9.5 billion bor- rowed to construct NTTA’s toll roads and fund nearly $2 billion of improve- ments over the next ve years.

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DOVE RD.

It’s up to all of us to keep the water towers full. The best thing you can do is use your sprinklers twice a week or less. Watering twice a week, even in the summer, will keep your lawn healthy and save thousands of gallons. And if it rains, turn your sprinklers off. Find more water saving tips at WaterIsAwesome.com and let’s keep those towers full. WATER 2X A WEEK OR LESS TEXAS TWO-STEP

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SH 114 construction ongoing in Southlake

The Texas Department of Transporta- tion is continuing work that began in January on SH 114 in northeast Tarrant County. The 2-mile project stretches from Davis Boulevard, or FM 1938, to Dove Road in Southlake. The scope of the project includes the widening of the roadway, the addition of shoulders and retaining walls, and landscape work in the area. Timeline: January 2021-November 2023 Cost: $31.4 million Funding source: TxDOT

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L.D. Lockett reopens to eastbound trac

L.D. Lockett Road is again open to two-way trac. The new westbound right-turn lane at the intersection of L.D. Lockett Road and Precinct Line Road is now open, and the intersection is being restriped. Timeline: spring-summer Cost: $331,927 Funding source: city of Colleyville

SH26 median beautication in Colleyville

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Colleyville ocials expect work along medians on Colleyville Boulevard will be complete in July, ending the need for temporary closures. Two additional medians south of Little Bear Creek were added to the project in June. Timeline: fall 2020-summer 2021 Cost: $6 million Funding source: city of Colleyville

JOHN MCCAIN RD.

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ALL INFORMATION ON THIS PAGE WAS UPDATED AS OF JUNE 15. HAVE NEWS OR QUESTIONS ABOUT THESE OR OTHER LOCAL TRANSPORTATION PROJECTS? EMAIL US AT GCSNEWSCOMMUNITYIMPACT.COM.

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GRAPEVINE  COLLEYVILLE  SOUTHLAKE EDITION • JULY 2021

CITY& COUNTY

News from Colleyville, Grapevine & Southlake

NUMBER TOKNOW This is the increase in Southlake’s sales tax revenue reported this June compared with the revenue from June 2020. Southlake reported over $2.7 million in sales tax revenue this June, up from $1.9 million in 2020. This was also an increase over the same month in 2018, which saw $2 million, and 2019, with $2.4 million. Revenue is generally reported on a three-month delay from purchases. “It’s a very good sign that things are recovering,” said Sharen Jackson, chief nancial ocer for the city of Southlake. “That it’s higher over three years is denitely a great indication that we’re recovering quite well.” 41.6% CITY HIGHLIGHTS SOUTHLAKE The shuttered Harkins Theatres in Southlake Town Square is expected to be refurbished into a new venue known as EVO Entertainment. Slated to open by December, EVO Entertainment will be a hybrid of a cinema, bowling alley, restaurants and video arcade, according to details announced June 29. The new tenant’s application was unanimously approved during a joint meeting among the Southlake City Council, Planning and Zoning Commission and the Sign Board on June 29. EVO Entertainment CEO Mitch Roberts said the new center could hire up to 300 employees.

DFWAirport Terminal C renovations to add gates

Colleyville Senior Center anticipated budget: $ 4.65M

BY SANDRA SADEK

GRAPEVINE The Dallas Fort Worth Interna- tional Airport’s Terminal C will have new gates in summer 2022 as part of a project to modern- ize existing facilities into the 21st century. The $115 million demolition and rebuilding of the terminal will accommodate ve additional gates, bringing the total square footage of the terminal to 80,000. According to airport ocials, the construction of the new gates uses prefabricated modules, a unique construction method that saves time and money. Overall plans for Terminal C are in the design phase.

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The Colleyville Senior Center project is expected go out to construction bids in December. (Rendering courtesy city of Colleyville)

City Council approves Senior Center renovation contract

BY KIRA LOVELL

proposed by the architecture rm during a June 15 work- shop, the project will go out to construction bids in December, and a construction contract will come to City Council for approval in February. The architecture rm antici- pates the total project budget to be $4.65 million.

COLLEYVILLE City Council took a step June 15 toward renovating the Colleyville Senior Center, 2512 Glade Road, approving a nal design concept and services agree- ment with Barker Rinker Seacat Architecture. According to the timeline

Dallas Fort Worth International Airport Terminal C will add ve gates in summer 2022. (Rendering courtesy Dallas Fort Worth International Airport)

Tarrant County, some local agencies to begin cite-and-release program

MEETINGSWE COVER

BY SANDRA SADEK

opposed to an immediate arrest. The change is part of the joint work of the Tarrant County Law Enforce- ment Executives Association, Tarrant County magistrates and the Tarrant County Criminal District Attorney’s Oce. Local agencies may elect not to participate in the policy. Some local police departments that plan to par- ticipate—as of June 26—include Fort

Worth, Colleyville and Grapevine, though implementation of cite-and- release will not be immediate for either the Colleyville or Grapevine departments. “We are not dismissing theft or drug cases,” said Sharen Wilson, Tarrant County criminal district attorney, in a press release. “This is just another way to prosecute these cases eciently.”

Colleyville City Council Meets at 7:30 p.m. July 6 and July 20. www.colleyville.com Grapevine City Council Meets at 7:30 p.m. July 6 and July 20. www.grapevinetexas.gov Southlake City Council Will not meet in July. www.cityofsouthlake.com

TARRANT COUNTY A cite-and- release policy for eligible charges is being put into action in Tarrant County, per a news release from the criminal district attorney’s oce. Cite-and-release, a law rst passed by the Texas Legislature in 2007, allows for a defendant charged with certain class A and B misdemeanor oenses to be eligible for a citation as

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

EDUCATION BRIEFS

News from Grapevine-Colleyville ISD & Carroll ISD

CARROLL ISD Superintendent Lane Ledbetter recently unveiled a series of strategies to improve safety for students and staff. He said during a June 21 meeting that the strategies will be workshopped during the summer and should be in place by the start of the 2021-22 school year. Proactive measures include programs and resources for student and staff wellness as well as enhancing the reporting process for students and staff. Ledbetter said he has been in contact with principals and staff from within the district to workshop the strategies and put together action plans. “I can’t move forward as superintendent of schools without addressing the safety of our students,” he said. Grapevine-Colleyville ISD board Meets at 7 p.m. July 26 3051 Ira E. Woods Ave., Grapevine. www.gcisd.net Carroll ISD board Meets at 5 p.m. July 19 2400 N. Carroll Ave., Southlake. www.southlakecarroll.edu MEETINGSWE COVER

Local STAAR results underline COVID-19 learning challenges across all subjects

GCISDapproves fiscal year 2021-22 budget

BY SANDRA SADEK

BY KIRA LOVELL

EQUATION READING THE Percentage of seventh-graders not meeting expectations in math in 2021:

GRAPEVINE-COLLEYVILLE & CARROLL ISDS The 2021 State of Texas Assessments of Academic Readiness results released by the Texas Education Agency show nearly across-the-board increases in Grapevine-Colleyville ISD students not meeting expectations compared to 2019. Performance declines for Carroll ISD were generally less significant. GCISD saw its largest performance decline in seventh-grade math with the fail rate of students jumping from 24% in 2019 to 46% in 2021. Statewide results reflect a 4% decline in the percentage of students read- ing at or above grade level from 2019 and a 15% decline for Texas students understand- ing math at or above grade level. CISD’s results did not mirror the large declines that were seen statewide. Per- formance declines for the district were generally only by a few percentage points, with a 5% change in fourth-graders not meeting expectations in reading standing out as the largest increase.

GRAPEVINE-COLLEYVILLE ISD The board of trustees voted June 21 to adopt a fiscal year 2021-22 budget that expects a general fund revenue of almost $188 million and expenditures of roughly $195 million. That includes a recapture payment of roughly $50.4 million to the state— about $0.31 for every dollar collected by the district in maintenance and operation tax, according to the district’s budget book. Employee compensation will increase, with teachers, nurses and librarians receiving a pay raise of at least $1,250. Other staff will receive a pay increase equivalent to 2% of the midpoint between the highest and lowest wages offered for their positions. That will bring staff members paid on the lower end of the spectrum closer to the market pay rate, Chief Financial Officer DaiAnn Mooney said.

4%

46%

46%

SOURCE: TEXAS EDUCATION AGENCY/ COMMUNITY IMPACT NEWSPAPER

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GRAPEVINE - COLLEYVILLE - SOUTHLAKE EDITION • JULY 2021

2021 R E A L E S T A T E E D I T I O N

COMMUNITY IMPACT NEWSPAPER IS PROUD TO SAY THANK YOU TO OUR SPONSOR

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TO READ ALL COMMUNITY IMPACT GUIDES AND SEE REGULAR TOPIC UPDATES,

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MARKET AT AGLANCE Numbers are up across Tarrant County. The number of homes sold in the yearlong period that ended May 31, 2021, increased in Grapevine, Colleyville and Southlake as well as in Tarrant County as a whole. Median home sale prices also increased

COMPILED BY KIRA LOVELL

SOUTHLAKE 76092

across the board, while the number of days homes spent on the market fell.

114

26

GRAPEVINE 76051

SOURCE: COLLIN COUNTY ASSOCIATION OF REALTORSCOMMUNITY IMPACT NEWSPAPER

114

NUMBER OF HOMES SOLD June 2019-May 2020 June 2020-May 2021

121

26

COLLEYVILLE 76034

360

97

N

June 2019-May 2020 June 2020-May 2021 AVERAGE DAYS ON THEMARKET 76051

+23.89%

+17.12%

+14.73%

+10.84%

76034

-25.58%

-32.84%

43

32

67

45

494

612

473

554

516

592

27,097

30,033

76051

76034

76092

Tarrant County

Tarrant County -25%

76092 -30.43%

69

48

40

30

Although 30-year and 15-year xed-mortgage rates declined during the heart of the pandemic in 2020, they have since risen in the early months of 2021. NATIONALMORTGAGE RATE DATA

AVERAGE HOME SALES PRICE June 2019-May 2020 June 2020-May 2021

30-year xed-rate mortgage

15-year xed-rate mortgage

5%

$363,000

76051 SOLD

+11.57%

$405,000

4%

$630,000

76034 SOLD

+6.35%

$670,000

3%

$774,000

76092 SOLD

+12.73%

$872,500

2% 0

$245,000

Tarrant County SOLD

+10.2%

January 2018

January 2019

January 2020

January 2021

$270,000

SOURCE: FREDDIE MACCOMMUNITY IMPACT NEWSPAPER

12

COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

INSIDE INFORMATION UNDERSTANDING REVERSE MORTGAGES With low rates in place due to the coronavirus pandemic, Ray Daniel, reverse mortgage specialist with Fairway Independent Mortgage Corp., said he believes now is an especially good time for senior homeowners to look at reverse mortgage options. Reverse mortgages allow homeowners to convert part of the equity in their homes into cash without having to sell the house or pay additional monthly bills, according to the Federal Trade Commission website. With this loan, if the balance is more than the home is worth, heirs do not have to pay the dierence. But if heirs sell the home, the lender will take the proceeds from the sale as payment on the loan, and the Federal Housing Administration insurance will cover any remaining loan balance, it said. Daniel said there are several misconceptions when it comes to reverse mortgages with the biggest being who owns the home. He said even with the mortgage, the senior continues to own the house throughout their lifetime, and it continues to be in their name. “[Homeowners] can do with it what they want, after they close on the reverse mortgage,” Daniel said. “If ve years later they decide they need to move and be closer to one of their children or grandchildren, they can sell it.” In addition, qualication requirements include age, credit and income, among others. However, there are some cons that come with reverse mortgages including added fees for closing costs and the potential for a reduced equity on the home over time, something to consider for those planning to leave the home for their children and grandchildren. In the case that heirs want to keep the home instead of selling it, the loan must be paid o with another source of funds, but heirs will never have to pay more than the full loan balance or 95% of the home’s appraised value, whichever is less, according to the FTC website. Even so, Daniel said only about 1.5% of adult children inherit a parent’s house and move into it. “If you get a reverse mortgage, that’s going to reduce that amount [of equity], but that amount that an owner took out to live their life they didn’t have to take it out of their savings account or stocks or bonds or investment account,” Daniel said. “So, their investment accounts are larger by the same amount they took cash out of their house.”

COMPILED BY ALI LINAN  DESIGNED BY MICHELLE DEGARD

WHAT IS A REVERSEMORTGAGE?

Reverse mortgages allow homeowners, who are often near retirement, to convert part of the equity in their homes into cash without having to sell the house or pay additional monthly bills. Most but not all reverse mortgages are federally insured through the Federal Housing Administration’s Home Equity Conversion Mortgage Program.

PROS AND CONS

Reverse mortgages are not recommended for everyone. Here is a look at some of the pros and cons of this program.

Loan repayments will not be required until: REPAYMENT REQUIREMENTS Last living borrower dies; Last living borrower no longer lives in the home as their principal residence including moving to a nursing home or assisted- living care facility; or Borrower chooses to sell the property. The equity of the home decreases Fees associated with the loan generally higher than with other nancial products; ask lenders about options available Balance of the loan increases over time as does the interest on the loan and the fees associated

Maintain ownership of the home More cash on hand to live in retirement

No mortgage payment during the life of the loan Neither the homeowner nor the heir are liable for any amount of the mortgage that transcends the value of the home

WHOQUALIFIES?

Qualications for borrowers to apply for a reverse mortgage include:

Must be age 62 or older. For those in a couple, both must be at least 62 years old; Must live in home as a primary residence for more than 6 months out of the year; Must own the home outright; Must not be a delinquent on any federal debt; Meet basic credit and income qualications; and Never miss a monthly payment as owners are still responsible for maintenance, taxes and insurance as long as they occupy their home.

SOURCES: CONSUMER FINANCE PROTECTION BUREAU, WWW.REVERSEMORTGAGEALERT.ORG, FAIRWAY INDEPENDENT MORTGAGE CORP., FEDERAL TRADE COMMISSION, U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENTCOMMUNITY IMPACT NEWSPAPER

TRACKING REVERSEMORTGAGE RATES

*LATEST DATA AVAILABLE AS OF MAY 18

Texas reverse mortgage rates from the HECM program are reported each month. Below is the average rate for xed and adjustable rate loans over time.*

Fixed rate

Adjustable rate

0 1% 2% 3% 4% 5%

March 2015 March 2016

March 2017

March 2019 March 2020 March 2021

March 2018

Since 1996

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13

GRAPEVINE  COLLEYVILLE  SOUTHLAKE EDITION • JULY 2021

GUIDE

Local businesses oer home improvement tips

HOME IMPROVEMENT COMPILED BY KIRA LOVELL & STEVEN RYZEWSKI

ASKA REALTOR FOR SA L E

Because of their day-to-day interactions within the eld, Realtors such as Randy White of Randy White Real Estate Services often have keen insights into the latest trends.

ARE YOU ENCOUNTERING HESITANCE FROM SOME POTENTIAL SELLERS? They’re concerned about that as a seller—”Where am I going to go?” is the question. Now, I will say this, we do a lot of business here. To date, since the beginning of the pandemic, we’ve found every buyer a house. But I can still see why that would be a valid concern for sellers. ... Even if they rent, the rents are sky-high and hard to nd. WHAT ARE THE LATEST HOME ENERGY TRENDS YOU ARE SEEING? One of our custom builders that builds in Oak Alley [in Colleyville] ... he includes a generator in every home as part of his package. I’m assuming others are, at least, looking into it. … I think that we’re in the midst of some changes, and I think houses are just slowly evolving into more energy-ecient homes. Used to

be people wouldn’t pay for it. … Now, I think that they would, because the green movement is real. HAS THE WORKING FROM HOME TREND AFFECTED FLOOR PLANS? You know, at rst, what we were seeing from the oor plans was that people were working from home and we had this jump in “we want big houses again.” … I don’t think people are going to work from home, to any measurable degree, once this shakes out. ARE YOU MONITORING ANY TRENDS THAT MIGHT SURPRISE PEOPLE? I think that Lennar Homes got written up about … ve years ago, for coming out with the multigenerational oor plan. … I’m not so sure Lennar wasn’t ahead of the curve and that we’re xing to see more of that.

TIPS FROMAN INTERIOR DESIGNER

After spending more time at home during the pandemic, many people are changing their spaces to t their new lifestyles. Interior designer Marlene Small of Heritage Design Studio explained what to keep in mind when starting an interior design project. THINK IT THROUGH Design clients do not always know of the property, you never know what surprises will crop up during the project.

KEEP STAKEHOLDERS IN MIND A home should work for everyone who lives there and is nancially and emotionally invested in it. That increasingly includes grandparents and other extended family. MAKE IT WORK FOR YOU Many are prioritizing functionality and durability in their homes, but they are also experimenting with color and pattern to incorporate a greater sense of brightness and positivity.

exactly what they want, but it helps to have inspiration photos or other ways to set expectations and help your designer understand your sense of style. PATIENCE IS KEY In today’s rapidly changing market, vendors have reduced their product lines due to capacity issues. A clear plan is important, but so is patience and exibility. EXPECT THE UNEXPECTED Even if you are the rst and only owner

Marlene Small Interior Designer Heritage Design Studio 596 N. Kimball Ave., Ste. 100, Southlake 817-988-9680 www.heritagedesignstudio.com

Randy White Owner/Realtor Randy White Real Estate Services 175 E. Continental Blvd., Southlake 817-865-6400 www.randywhite.com

E. CONTINENTAL BLVD.

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114

N

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Jocelyn Hope, Agent 414 N Main Street Suite 106 Grapevine, TX 76051 Bus: 817-778-4504 jocelyn.hope.st25@statefarm.com www.insurewithhopesf.com Jocelyn Hope, Agent 414 N Main Street Suite 106 Grapevine, TX 76051 Bus: 817-778-4504 jocelyn.hope.st25@statefarm.com www.insurewithhopesf.com Jocelyn ope, Agent 4 N Main Street Suite 106 Grapevine, TX 76051 Bus: 817-778-4504 jocelyn.hope.st25@statefarm.com www.insurewithhopesf.com StateFarmMutual AutomobileInsuranceCompany, StateFarmIndemnityCompany, BloomingtonIL StateFarmCountyMutual InsuranceCompanyof Texas, Richardson, TX State Farm Mutual Automobile Insurance Company, State Farm Indemnity Company, Bloomington, IL State Farm County Mutual Insurance Company of Texas, Richardson, TX State Farm Mutual Automobile Insurance Company, State Farm Indemnity Company, Bloomington, IL St te F rm ount Mutual Insurance Compa y of Texas, Rich rdson, TX 1901155

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

2 0 2 1 R E A L E S T A T E E D I T I O N

MAKE A GARDEN

Tips for choosing a container The bigger the better—larger containers allow for larger root systems and larger plants as well as holding more water for hot days. Container types can include: • half wooden barrels, buckets or baskets • old bathtubs, metal tubs, or other troughs • hanging baskets, which are a good use of extra space and can be used for plants such as herbs or cherry tomatoes SOURCE: THE OLD FARMER’S ALMANACCOMMUNITY IMPACT NEWSPAPER

Popular vegetables to grow:

Care tips:

Watch and treat for insects as needed. Support “climbing” vegetables with cages, twine or a trellis. Liquid fertilizer should be “fed” to plants at least twice per month. Add about an inch of coarse gravel in the bottom of containers to improve drainage. Plants need at least ve hours of sunlight per day and may need to be watered once or twice per day.

zucchini squash bush beans

tomatoes

beets

chards

lettuce radishes

cabbage

carrots

peppers

MAINTAINING YOUR HOME

EXTERIOR

INTERIOR

The National Association of Home Builders oers routine home maintenance tips for homeowners looking to maintain their homes’ value and ensure their

1 Roofs should be inspected by a qualied roofer every three years, and skylights should be inspected so leaks do not develop. 2 Ensure downspouts and gutters do not get clogged with leaves and other debris. 3 Inspect siding each year to see if it needs repainting, and trim shrubs away so they do not touch the siding. 4 Check for split or cracked caulking on windows and doors annually, and replace the caulk as necessary. 5 Moving parts of garage doors need to be oiled once every three months.

6 Air lters require regular replacement, generally once every three months.

1

safety. Find other useful home ownership tips at www.nahb.org.

7 Safety and security : Regularly check security alarms and circuit breakers. Check batteries in smoke and carbon monoxide detectors twice a year. 8 Clean each faucet’s aerator every three to four months. Maintain garbage disposals by running cold water through them. 9 Masonry walls can develop a white powder that can be scrubbed o with water and a sti brush. 10 Hardwood oors without polyurethane need to be waxed with a liquid or paste “spirit” wax. Use emulsion wax on vinyl.

2

6

9

7

4

8

10

5

3

SOURCE: NATIONAL ASSOCIATION OF HOME BUILDERSCOMMUNITY IMPACT NEWSPAPER

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GRAPEVINE  COLLEYVILLE  SOUTHLAKE EDITION • JULY 2021

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