Plano South | July 2022

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VOLUME XX, ISSUE XX XXXXXXXXXX, 2022 2022 PLANO SOUTH EDITION

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REAL ESTATE EDITION

VOLUME 8, ISSUE 10 JULY 14AUG. 17, 2022

REAL ESTATE EDITION 2022

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Mixed-use developments look to transform Plano’s landscape

ERICK PIRAYESH

Peter Braster, director of special proj- ects for the city of Plano. The largest mixed-use site in Plano is the $3 billion Legacy West develop- ment that opened in 2017. It combines luxury residential with commercial buildings in a high-density area on the northwest side of the city. Hop- ing to nd similar success, developers began looking toward declining shop- ping malls and what is left of the city’s CONTINUED ON 18

A number of mixed-use, multipur- pose development sites that combine retail, residential, restaurant and oce buildings are becoming more preva- lent across Plano. These types of developments tend to operate as “live, work, play” areas where foot trac is dominated by workers and shoppers during the day, and restaurant-goers and entertain- ment-seekers at night, according to

Assembly Park, at the former site of Plano Market Square Mall, will be one of many mixed-use sites that are becoming popular across Plano. (Rendering courtesy Triten Real Estate Partners)

Jail expansion will meet local needs Collin County ocials are mak- ing progress on a mental health and medical inrmary for inmates at the county jail. in 2025, the expansion will convert the 24-bed inrmary at the detention cen- ter to a 450-bed facility, according to the county’s 2021 recovery plan. BY BROOKLYNN COOPER

CHANGING THE COUNTY CAMPUS

Federal funds will change Collin County’s jail campus in McKinney. Six new buildings will be built by the end of 2026.

2026

2022

2023

2024

2025

In rmary

New booking area New power plant

County ocials have selected an architect for the $134.1 million build- ing, and ocials are in bimonthly meetings with county sta to nail down the project scope. County Administra- tor Bill Bilyeu said the project will go

The facility is one of three county projects funded by the American Res- cue Plan Act, federal funds meant for supporting public health and mitigating the spread of COVID-19. With an expected completion date

Public health building or parking deck Public health building or parking deck

Medical examiner building

CONTINUED ON 24

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If your joint replacement is causing pain or instability, find relief with the help of our orthopedic specialists. Get better right here in Plano, thanks to a tailored treatment plan that eliminates pain and gets you back to doing what you love. Call 1.844.BSW.DOCS or visit BSWHealth.com/ComplexJoint to get started.

Photography may include models or actors and may not represent actual patients. Physicians provide clinical services as members of the medical staff at one of Baylor Scott & White Health’s subsidiary, community or affiliated medical centers and do not provide clinical services as employees or agents of those medical centers or Baylor Scott & White Health. ©2021 Baylor Scott & White Health. 99-PL-407356 AM

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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. Now in 2022, CI is still locally owned. We have expanded to include hundreds of employees, our own software platform and printing facility, and over 30 hyperlocal editions across the state with circulation to more than 2.4 million residential mailboxes.

HIGHLIGHTS FROM THIS MONTH

FROM LEANNE: We may have already passed Independence Day, but there are still a slew of fun things to do in Plano this summer. Check out our to-do list of upcoming events (see Page 8) for events you will not want to miss! You can share additional events via our online calendar at communityimpact.com/event-calendar/add-an-event. Leanne Libby, GENERAL MANAGER

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.

FROM WILLIAM: Welcome to our Real Estate Edition, where you can learn more about the mixed-use developments coming to Plano (See Pages 22-23) and why the city’s shopping malls are being redeveloped. We also have more real estate news and a Q&A with a solar energy specialist (See Page 15.) William C. Wadsack, MANAGING EDITOR

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

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MARKET TEAM GENERAL MANAGER Leanne Libby REPORTER Erick Pirayesh SENIOR GRAPHIC DESIGNER Michelle Degard ACCOUNT EXECUTIVE Candice Trevino METRO LEADERSHIP PUBLISHER Christal Howard MANAGING EDITOR William C. Wadsack COPY EDITOR Beth Marshall SENIOR ART PRODUCTION MANAGER Breanna Flores CORPORATE LEADERSHIP PRESIDENT & GROUP PUBLISHER Traci Rodriguez EXECUTIVE EDITOR Joe Warner CREATIVE DIRECTOR Derek Sullivan VICE PRESIDENT OF SALES & MARKETING Tess Coverman CONTACT US

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CORRECTION: Volume, 8 Issue 9 The article "Children's Plano expansion will meet region's needs" should have stated that the hospital’s pet therapy program does not include horses, the new parking garage opens in 2023 and the new hospital tower will be eight stories.

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PLANO SOUTH EDITION • JULY 2022

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NOW OPEN 1 Soul Bird Chkn Shack & Wing Bar ocially opened June 10 in its new location at 5717 Legacy Drive, Ste. 155N, Plano. The restaurant has been oering delivery services since mid-May. The new location is in The Shops at Lega- cy development in a space previously occupied by Zoes Kitchen. In addition to the variety of chicken sandwich- es, wings, chicken tenders and salads that Soul Bird oered in Roanoke, the Plano location is adding a pair of new menu items, restaurant ownership said. 469-270-5646. www.soulbirdchkn.com 2 Luxury sneaker brand Golden Goose opened this summer at Legacy West in Plano. The new store is located at 7801 Windrose Ave, Ste. H140. Golden Goose is based out of Italy and was started by fashion designers Francesca Rinaldo and Alessandro Gallo, according to the company’s website. The brand specializes in high-quality, chic streetwear shoes, the website states. The company also sells clothing and accessories. Golden Goose has stores around the world, including a store in Dallas at 8687 N. Central Expressway. 214-436-4573. P L A N O P K W Y . DNT TOLL

www.goldengoose.com 3 Boure Event Studio opened in May at 3033 W. Parker Road, Ste. 201, Plano. The event venue oers oor plan exibility and a variety of pack- ages for up to 75 guests, according to Boure Event Studio’s website. The venue has 10-foot ceilings, bluetooth speakers, and tables and chairs in- cluded with rentals. 469-829-7321. www.boureeventstudio.com 15THST. 4 Marketing company Cheil held a grand opening April 26 for its Plano location at 6600 Chase Oaks Blvd., Ste. 170. The company focuses on enhancing business performance for its clients and brand experiences for consumers, according to parent company Cheil Worldwide’s LinkedIn page. The Plano oce has more than 180 employees. https://us.cheil.com COMING SOON 5 Sakhuu Thai plans to open a new location in The Shops at Legacy develop- ment. The company announced via The Shops at Legacy website plans to open a new location at 7300 Lone Star Drive,

Ste. C125. An exact opening date has not yet been announced, but the website states it is “coming soon.” The restau- rant, which also has locations in Rich- ardson and Dallas, oers authentic Lao and Thai cuisine. 214-828-9300 (Dallas location). https://order.sakhuuthai.com 6 Mendocino Farms , a fast-casual restaurant known for its wide-ranging and seasonally inspired menu options, is scheduled to open Aug. 2 at Legacy West in Plano. The eatery, which will be located at 7700 Windrose Ave., special- izes in sandwiches and salads. The menu also features grain bowls, including the Chimichurri Steak & Shishito Bowl made with roasted steak and ancient grains and tossed with caramelized onion jam, chimichurri, baby spinach, roasted shishito peppers, broccolini, tomatoes, red onions and grilled lemon. The company has locations across California and Texas. 972-354-3924. www.mendocinofarms.com 7 Sports bar and restaurant Twin Peaks is slated to open a new location at 3312 N. Central Expressway, Plano. Twin Peaks oers wall-to-wall televi- sions showing sporting events, draft beer served in frosted mugs, a scratch 1 4 T H ST.

Cheil

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COURTESY CHEIL

kitchen and more. Construction on Twin Peaks’ new 6,765-square-foot building is set to begin in September and continue into March of next year, according to a ling with the Texas Department of Licensing and Regulation. The estimated cost for the restaurant is $2.78 million, per the listing. A phone number and an opening date have not yet been announced for the restaurant. www.twinpeaksrestaurant.com 8 Jugo , a healthy dining concept, is planning to open a new location in Pla- no. The business will open at 5809 Pres- ton Road, Ste. 584. An exact opening date has not yet been announced, but signage on the building states it is “com- ing soon.” The menu features acai bowls, juice, smoothies and more. The company has other locations in San Antonio, Dal-

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The Outlook at Windhaven will be located on the former site of Haggard Farms land.

COURTESY THE OUTLOOK AT WINDHAVEN

FEATURED IMPACT COMING SOON The Outlook at Windhaven , a senior living center, is now under construction in Plano, according to a June 23 company release. It will be located on the former site of Haggard Farms, just west of the northwest corner of West Spring Creek Parkway and Windhaven Parkway near Windhaven Meadows Park. The center will be owned and operated by Forefront Living, a health care and service management nonprot based in Dallas. The community will be built on 18 acres and include 153 independent-living apartment homes, 30 independent-living cottage homes and 56 unit buildings for assisted living and memory care, the release states. las and Fort Worth. A phone number is not yet available. www.jugousa.com 9 Construction on a new multifamily apartment complex is slated to get un- derway later this year near the southwest corner of Chase Oaks Boulevard and Anniston Trail in Plano, according to a listing with the Texas Department of Licensing and Regulation. Work on the 18,000-square-foot apartment complex, which is set to be named The Prome- nade , is expected to begin in October and continue into June 2024 at an estimated cost of $3.6 million. In addition to the 233 units, the listing states the complex will also feature an integrated two-story clubhouse and a parking garage with 244 spaces. The listing names nonprot organization Unied Housing Foundation as the project’s owner. Unied Housing Foundation oers aordable apartments for low- to moderate-income individu- als and families at 14 locations in Texas, according to its website. An opening date and a phone number for The Prome- nade have not yet been announced. www.uniedhousing.com

The community’s information center is located at 4017 Preston Road, Ste. B520, Plano. An exact opening date for the center has not yet been announced, but the website states it will open sometime in 2024. 972-996-3887. www.theoutlookatwindhaven.org

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CLOSINGS 10 Grocery store company Kroger is planning to close one of its Plano loca- tions, according to company ocials. An exact closing date has not yet been announced for the location at 9700 Coit Road. Kroger announced it plans to open another store in the city and relocate employees to that location, but no specic details have been released. 972-377-7796. www.kroger.com

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PLANO SOUTH EDITION • JULY 2022

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NOW OPEN 1 Kay Jewelers opened in late April at 2408 Preston Road, Ste. 704B, Plano. The jewelry store began in 1916 in Reading, Pennsylvania, by selling eyeglasses, music boxes, silverware, appliances and more. Kay Jewelers now has more than 1,000 stores across the country. 469-915-3348. www.kay.com 2 Derma Med Spa opened May 8 at 2301 N. Central Expressway, Ste. 272, Plano. Derma Med Spa offers services, such as Botox, facials and skin treatments. The business is located on the second floor of the Enterprise Square development. 515-553-5521. https://dermamedspas.com 3 Ice cream shop Paleta Mia opened in May at 1405 Jupiter Road, Ste. 108, Plano. Paletas are a Mexican frozen treat made from fresh, natural fruits, such as strawberry and mango, or made from rich, creamy ingredients, such as chocolate and Sicilian pistachio. The shop also offers Mexican crema desserts, churros and more. 469-786-0096. www.paletamiatx.com 4 Clothing store Fine Things International opened in late May inside The Shops at Willow Bend. The store

carries clothes, women’s accessories and more. Fine Things International is located at 6121 W. Park Blvd., Ste. B202, Plano, on the second floor of the mall. www.shopwillowbend.com/store/ fine-things-international 5 Artisan creamery Churn and Bake opened this spring at 2707 W. 15th St., Ste. C, Plano. The shop offers Asian- inspired flavors of premium ice cream as well as baked goods. Churn and Bake partners with local businesses to source its ingredients, according to the shop’s Facebook page. 469-277-6098. www.facebook.com/Churn-and-Bake- 107706631982444 COMING SOON 6 The spaghetti Western-themed restaurant Sfereco will open by the end of August at 1941 Preston Road, Ste. 1004, Plano. The 3,200-square-foot restaurant will offer a variety of pizzas and meatball dishes as well as a full bar, according to a company release. The Plano location will be Sfereco’s fourth location after its restaurants in downtown Dallas, Lewisville and the River Walk in Flower Mound. A fifth Sfereco location is also planned to open

in the new Mercer Crossing Boardwalk in Farmers Branch later this year, according to the company release. The Plano location will feature a private event space as well as a patio. 469-312-3009 (Lewisville location). www.sfereco.com 7 Smoothie and energy bar Fit Kingdom Nutrition will open at 2200 Los Rios Blvd., Ste. 120, Plano. Fit Kingdom will offer shake flavors, such as caramel brownie, wedding cake, strawberry cheesecake and more, as well as tea flavors, including ocean breeze, watermelon crawl, sunset passion and more. Ownership stated the company hopes to open mid-August. 469-573-4061. www.instagram.com/fitkingdomnutrition 8 Clothing store J.Crew is slated to open at 2400 Preston Road, Ste. 800, Plano. According to a listing with the Texas Department of Licensing and Regulation, $375,000 in renovation work at the nearly 6,900-square-foot store is slated to last from mid-September into October. J.Crew carries men’s and women’s clothing, swimwear, cashmere and more. An opening date has not yet be announced. 469-642-2785 (Legacy West store). www.jcrew.com 9 A new Firehouse Subs restaurant

Urban Seafood Company

COURTESY URBAN FAMILY CONCEPTS

is slated to open in July at 901 Central Expressway, Ste. 300, Plano. The restaurant offers hot and cold sandwiches as well as salads and more. www.firehousesubs.com 10 Arrowhead Sports Bar and Grill is opening in Plano in early August at 2208 Dallas Parkway, Ste. 303, according to ownership. The featured menu item will be the Omaha burger with beef sourced from Omaha Steaks. This will be the company’s first location in Plano. A website and phone number are not yet available. ANNIVERSARIES 11 Urban Family Concepts celebrated anniversaries in June, marking 10 years for A Urban Rio Cantina and Grill , and one year for B Urban Seafood Company . Both eateries are located in downtown Plano. Urban Family Concepts is owned by husband-and-wife team Bonnie and Nathan Shea with Chef Salvatore

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Pax & Beneficia’s menu includes food items paired with specialty coffees.

COURTESY ROSEWOOD PROPERTY COMPANY

FEATURED IMPACT COMING SOON Artisanal cafe Pax & Benecia is slated to open in the Heritage Creekside development in late summer. Pax & Benecia oers drip, pour over and specialty coee drinks as well as sweet and savory bites. The Plano location will be Pax & Benecia’s fourth Dallas-Fort Worth location. Pax & Benecia’s selection of coee is sourced and roasted at its own roastery in Grapevine and is available for purchase at each location, according to a news release from Rosewood Property Company, the parent company of Heritage Creekside. “Pax & Benecia translates from Latin to peace and blessings, and extending our carefully curated experience to Plano is a dream realized for us,” Pax & Benecia’s co-founder Mouyyad Abdulhadi said in a statement. Gisellu and his wife, Jeanne-Marie. Urban Seafood Co. is located at 1104 E. 14th St., Plano and Urban Rio Cantina and Grill is located at 1000 E. 14th St., Plano. The company also owns Urban Crust, a wood-fired pizza and Italian food concept located in downtown Plano that opened in 2009. Urban Rio Cantina offers a Mexican-style menu featuring house-smoked brisket tacos, chimichurri grilled chicken club quesadillas, and roasted corn and crab enchiladas. Urban Seafood Company opened last June and offers a seafood-based, New England- inspired menu, a company release stated. 214-251-8771 (Urban Seafood Company). 972-422-4466 (Urban Rio Cantina). www.urbanseafoodcompany.com www.urbanrio.com NAME CHANGE 12 Loretta’s Intimates rebranded as Petticoat Fair Plano this spring. The store, which carries lingerie, swimwear,

According to the release, the cafe’s international inuences can be experienced through its coee beans sourced from Ethiopia, Kenya and Guatemala; the housemade syrups; and more. According to a ling with the Texas Department of Licensing and Regulation, Pax & Benecia completed $150,000 in renovations earlier this year at Heritage Creekside’s location at 1300 W. Plano Parkway, Plano. 214-513-2570 (Grapevine location). www.paxandbenecia.com

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undergarments, accessories and more, is located at 721 N. Central Expressway, Ste. 414, Plano. The Plano location is the second Petticoat Fair boutique for owner and buyer Kali Andrews after its existing Austin store. 972-633-9100.

www.petticoatfair.com RENOVATIONS

13 Medical City Plano is planning $1.25 million in electrical equipment renovations, according to a listing with the Texas Department of Licensing and Regulation. The work was slated to begin in June and be completed by October, according to the listing. Medical City Plano, which is located at 3901 W. 15th St., is a 603-bed acute care facility with more than 1,800 physicians representing over 70 specialties and subspecialties, according to the hospital’s website. 972-596-6800. www.medicalcityhealthcare.com/ locations/medical-city-plano/

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PLANO SOUTH EDITION • JULY 2022

TODO LIST

July & August events

COMPILED BY ERICK PIRAYESH

JULY 15 THROUGH 17, 22 THROUGH 24 SEE A MUSICAL The North Texas Performing Arts’ Repertory Theatre brings adult stage veterans to the Willow Bend Center for the Arts to perform “The Spongebob Musical.” Based on the animated series, the musical features SpongeBob and his friends facing the annihilation of their undersea world. 8 p.m. (Fri., Sat.); 2:30 p.m. (Sat., Sun.). $20-$30. The Willow Bend Center for the Arts, 6121 W. Park Blvd., Ste. B216, Plano. 972-422-2575. www.ntpa.org 16 GO OUT WITH THE FAMILY The Plano Family Expo hosts its eighth annual event at the Plano Event Center. A variety of activities and entertainment will be oered, including crafts, bounce houses, health and tness programs, and various educational activities. 10 a.m.-4 p.m. Free. Plano Event Center, 2000 E. Spring Creek Parkway, Plano. 972-941-5840. www.visitplano.com/event/ The city of Plano Arts and Events department hosts karaoke night on Fridays outside at McCall Plaza in downtown Plano. Those attending may purchase beverages from The Fillmore Pub next door. 7:30-10 p.m. Free (admission). McCall Plaza, 998 E. 15th St., Plano. 972-941-5610. www.plano.gov/ 1080/McCall-Plaza 8th-plano-family-expo 22 AND AUG. 12, 19 SING KARAOKE DOWNTOWN

The Frisco RoughRiders have upcoming home games.

WORTH THE TRIP FRISCO ROUGHRIDERS BASEBALL GAME

Baseball fans can head to Riders Field to cheer on the Frisco RoughRiders, a minor league baseball team of the Texas League, as they play against the Amarillo Sod Poodles. The rst pitch is thrown at 7:05 p.m. for games Tuesday-Saturday and 6:05 p.m. on Sunday. The RoughRiders follow a themed schedule for their games. Visitors to Riders Field also have the option of oating in the 174- foot long Lazy River about the right eld wall. Ticket prices start at $11. Riders Field, 7300 Roughriders 27 LEARN MIXOLOGY The Shaken ‘n’ Stirred Summer Lovin’ Cocktail Class is oered at Tonic Bar and Lounge, located in Legacy Hall. Mixologists will teach students how to create two specialty cocktails. The class package will include a welcome cocktail, two craft cocktails made by those attending, a $10 gift card to Legacy Hall and more. 6 p.m. $65. Legacy Hall, 7800 Windrose Ave., Plano. 972-846-4255. www.legacyfoodhall.com/events 29 DRINK, DINE AND LAUGH Los Angeles-based comedian Trail, Frisco. 972-334-1993. www.milb.com/frisco/tickets AUGUST 0207 vs. Amarillo Sod Poodles Langston Kerman performs at The Plano House of Comedy located in The Shops at Legacy. Kerman has also appeared on the ABC series “Bless This Mess.” 7:30-9 p.m. $24. The Plano House of Comedy, 7301 Lone Star Drive, Ste. A-110, Plano. 469-440-9292. https://tx.houseofcomedy.net AUGUST 13 LISTEN TO MUSIC FOR A CAUSE Project Lorenzo’s “Music for Change” festival will feature over 30 bands playing on two stages with local food trucks, craft beer and shopping. Project Lorenzo is a program that delivers care packages and more to people experiencing homelessness, the event release states. 11 a.m.-11 p.m. $35. Red Tail Pavilion, 2801 E. Spring Creek Parkway, Plano. 972-941-5600. www.projectlorenzo.org

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Pearl Gem, self-described as “America’s most authentic tribute to Pearl Jam,” performs at Legacy Hall in Plano. The members of Pearl Gem are based out of the Dallas- Fort Worth area. The Box Garden is an outdoor, uncovered venue. 7 p.m. $5-$250. Legacy Hall, 7800 Windrose Ave., Plano. 972-846-4255. www.legacyfoodhall.com/events

Sommerfest Special featuring Schwammerl Schnitzel As the meadows start to green in the Bavarian mountains, people like to go hiking and afterwards they go to the local Gasthaus to enjoy some of these traditional, authentic summer favorites.

Find more or submit Plano 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.

Open Tuesday - Saturday | www.bavariangrill.com | 972-881-0705 www.bavariangrill.com | 972-881-0705

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and E Jupiter Road, will widen the roads and realign intersections. Crews have completed work at the Coit and Jupiter intersections and plan to next improvements at Custer. Work has begun on the signal improvements at the Alma location, and paving improvements will follow after the Custer Road location is complete. Timeline: October 2020-November 2022 Cost: $4.2 million Funding sources: city of Plano, Collin County 5 Coit Road widening A project that will widen Coit Road between Mapleshade Lane and the President George Bush Turnpike includes updates to pedestrian facilities and signal improvements as well as construction of additional turn lanes. Timeline: June 2021-August 2022 Cost: $2.1 million Funding sources: city of Plano, Collin County 6 Plano Parkway and Coit Road ultrathin overlays Crews will be placing an ultrathin overlay on the section of A Plano Parkway from Preston Road and Park Boulevard in July and August. From July-September, an ultrathin overlay will also be placed on B Coit Road from Parker Road and SH 121. One lane will remain closed at all times at both worksites, with an addi- tional lane closed from 9 p.m.-6 a.m. on Mondays-Saturdays. Timeline: July-September Cost: $4.6 million Funding source: city of Plano

COMPILED BY WILLIAM C. WADSACK

ONGOING PROJECTS 1 Windcrest Drive repairs Crews are making road and sidewalk repairs on Windcrest Drive between Spring Creek Parkway and Tennyson Parkway. One lane is scheduled to remain closed to traffic at all times. Timeline: early March-July Cost: $400,000 Funding source: city of Plano 2 Parker Road intersection improvements A project to improve intersections of Parker Road with Alma Drive and Coit Road will widen the road, improve signals and realign intersections. Crews have yet to start due to franchise utility relocation efforts, but will begin at A Coit Road and will move to B Alma Drive following completion. Timeline: December 2020-February 2023 Cost: $2.1 million Funding sources: city of Plano, Collin County 3 Park Boulevard repairs Crews will be making pavement and side- walk repairs on Park Boulevard from Los Rios Boulevard to Shiloh Road/East Spring Creek Parkway. One lane is scheduled to remain closed to traffic at all times. Timeline: April-July Cost: $300,000 Funding source: city of Plano 4 Park Boulevard intersection improvements A project to improve five Park Boulevard intersections, including at A Coit Road, B Custer Road, C Alma Drive, D K Avenue

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

CITY & SCHOOLS

News from Plano, Plano ISD and Collin County

COMPILED BY ERICK PIRAYESH

Plano City Council meets at 7 p.m. July 25 and Aug. 8. Meetings are held at 1520 K Ave., Plano, and can be streamed online. 972-941-7000. www.plano.gov Plano ISD board of trustees meets at 6 p.m. Aug. 2 at the PISD Administration Center, 2700 W. 15th St., Plano. 469-752-8100. www.pisd.edu MEETINGS WE COVER FRISCO ISD Trustees approved a guaranteed maximum price of $22.19 million for a construction project that will expand and renovate the district’s Career and Technical Education Center. Trustees approved the price during their June 13 board meeting. Sta said in the presentation to the board that the original 2018 bond price was $21 million. HIGHLIGHTS COLLIN COUNTY Commissioner Duncan Webb has been elected chair of the Regional Transportation Council, according to a June 9 release by the North Central Texas Council of Governments. The transportation council is an independent policy board made up of metroplex ocials. TEXAS The state supreme court issued a 5-3 ruling upholding Texas Central’s right to use eminent domain to construct its planned high-speed railroad between Houston and Dallas on June 24. Justice Debra Lehrmann delivered the court’s majority opinion with Chief Justice Nathan Hecht, Justice Brett Busby, Justice Je Boyd and Justice Evan Young joining. TEXAS Tourism, travel and hospitality companies that have been negatively impacted by the COVID-19 pandemic may qualify for a new recovery program, which began accepting applications July 6. The Texas Travel Industry Recovery Grant Program was established by Texas lawmakers during a special legislative session in 2021.

Trustees approve $38.9M budget decit

Short-term rental property regulations being considered PLANO The city is considering implementing a registration process in response to a number of com- plaints it has received concerning short-term rentals. According to a June 27 presenta- tion, 47 complaints have been made by residents concerning property rentals from companies like Airbnb in Plano as of May 31. Most of those complaints were related to noise or parties. Council members indicated further action may be taken regarding short- term rentals soon but that the city is still gathering data and considering various options.

Street, sidewalk repairs planned for Hedgcoxe Road Ocials stated that an estimated 500-student decline in enrollment is negatively aecting the district’s general fund budget. “When [enrollment] goes down, PLANO ISD District trustees adopted a budget decit of $38.9 million for the 2022-23 school year during the board’s June 21 meeting. General fund revenue is projected to increase from last year’s budget to $698.2 million. However, expenditures of $736.7 million, including a state recapture payment of $226.9 million, and more than $400,000 in operating transfers outs are expected to lead to the decrease in the district’s existing balance of operating funds. PLANO The city is planning $3.2 million in street and sidewalk repairs on Hedgcoxe Road. Construction will include 45,000 square feet of pavement, 72,000 square feet of sidewalk and 155 ramp- ways. Repairs will take place between Legacy Drive and Custer Road.

then you’re going to have recap- ture [payments] going up faster than [tax] collections,” said Johnny Hill, deputy superintendent of business and employee services.

FISCAL YEAR 202223

• The Plano ISD board of trustees approved the scal year 2022- 23 budget and held a public hearing on the proposed tax rate during its June 21 meeting. • $38.9M budget decit • $226.9M recapture payment • $1.27935 per $100 valuation proposed tax rate (3.13% decrease from FY 2021-22 rate)

SOURCE: PLANO ISD COMMUNITY IMPACT NEWSPAPER

Legacy West to get new residential building

PLANO A new 18-story high-rise apartment building will be built on one of the last pieces of undevel- oped land at Legacy West in Plano. The residential tower will have 177 units and be constructed on 2 acres on the corner of SH 121 and Windrose Avenue, according to city planning documents. Legacy West is Plano’s $3 billion mixed-use development site that includes cor- porate oces, multifamily homes, retail shopping and restaurants. City Council approved a zoning change at its June 13 meeting to facilitate construction of the new building. The planning and zoning commission approved the building and the related zoning in

SRT TOLL

DNT TOLL

This early rendering shows the planned 18-story high-rise apartment building.

HEDGCOXE RD.

May. Columbus Realty, one of the three companies that developed Legacy West, is proposing the new residential building.

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

2022

REAL ESTATE EDITION

REAL ESTATE DATA 2021-22 Plano

Data on the real estate market in Plano

COMPILED BY WILLIAM C. WADSACK

SRT TOLL

real estate market at a glance While homes are spending fewer days on the market in Plano, the options potential buyers have to choose from are slimmer than the year prior as fewer homes are being sold in most of the city’s ZIP codes. Only Plano’s 75023 ZIP code had more homes change hands over the last year than the year prior. SOURCES: COLLIN COUNTY ASSOCIATION OF REALTORS, FREDDIE MACCOMMUNITY IMPACT NEWSPAPER

75074 75075 75093

75023 75024 75025

DNT TOLL

PGBT TOLL

Average home sales price

Average days on market

June 2020-May 2021

June 2021-May 2022

June 2020-May 2021

June 2021-May 2022

75023

75074

$328,500

$295,000

+22.3%

+25.76%

$401,760

$371,000

75024

75075

$470,125

$355,900

+30.28%

+26.44%

$612,500

$450,000

75025

75093

$395,000

$541,500

+31.14%

+21.51%

$518,000

$658,000

75023

75024

75025

75074

75075

75093

National mortgage rate data Mortgage rates steadily declined early in the pandemic with the 30-year xed-rate mortgage dropping to as low as 2.65% in January 2021. Rates have since increased, spiking to their highest point since 2009 as of early May.

Number of homes sold

June 2020-May 2021

June 2021-May 2022

30-year xed-rate mortgage

15-year xed-rate mortgage

5.27%

4.51%

3.72%

4.52%

2.65% 3.22%

3.99%

3.16%

2% 0 January 2019

2.16%

2.43%

75023

75024

75025

75074

75075

75093

January 2020

January 2021

January 2022

PLANO SOUTH EDITION • JULY 2022

BUYING TREND Growing number of DFW homes sold in 2021 went to institutions

2022 REAL ESTATE EDITION

TYPES OF INSTITUTIONAL BUYERS The National Association of Realtors surveyed real estate agents in residential and commercial transactions about how single-family properties purchased by institutional buyers are returned to the market. Results are based on 3,644 responses from across the country. They resell or ip. They list as a rental. They have shared ownership/shared equity. They rent to own. 3%

45%

BY SARA RODIA

market in 2021, the report stated. Among states, Texas had the high- est percentage of institutional buyers with 28%, the report stated. That is a 4.6% increase from the institutional buyer share in 2020, according to the report. The association’s report found the increase in institutional buyers reduced available housing stock, creating a more competitive real estate market for individual buyers and increasing the number of rentals. That, in turn, led to a higher turnover rate, according to the report. “The major reason homeowners sold to institutional buyers was because they oered cash, purchased the property ‘as is,’ or oered a guaranteed purchase,” according to the report. With institutional buyers, home prices are likely to increase, said Marissa Benat, president of the Collin

A growing number of homes in North Texas are being purchased by institutions rather than individuals. A report released in May by the National Association of Realtors shows Collin, Dallas, Denton and Tar- rant counties had among the highest percentage of institutional buyers of anywhere in the nation when it came to residential home sales last year. The association dened institu- tional buyers as companies, corpora- tions or limited liability companies. Tarrant County was the third highest in the nation with 52% of all home sales last year going to compa- nies, according to the report. Dallas County came in seventh with 43%, Denton County was 11th with 39%, and Collin County tied for 20th place with 34%, the report showed. Nationwide, institutional buyers made up 13% of the residential sales

42%

Properties are owned by a bank or short-sale buyers. Other

NUMBERS DO NOT ADD UP TO 100% DUE TO ROUNDING.

SOURCE: NATIONAL ASSOCIATION OF REALTORS COMMUNITY IMPACT NEWSPAPER

County Association of Realtors. “Where buyers will win is that overpriced homes are going to stand out much more if a home doesn’t sell due to price or condition,” Benat said. “Price can overcome a lot of conditions, but consumers should question why a particular home has longer days on market than compara- ble sales.” Umit Gurun, who holds the posi- tion as the Ashbel Smith professor of accounting at The University of Texas at Dallas, researched the trend of

institutional homebuyers in DFW. He said there were two main shifts in the marketplace with these institutional investors. One shift he observed is institutional owners’ ability to repair houses at cheaper prices. “[The other] is that they become a big landlord,” Gurun said. “So they become the biggest landlord in the area, which gives them pricing power, which means they can increase the rent at higher levels, so that is kind of a monopoly on pricing.”

COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

PEOPLE Gage Mueller Solar energy specialist, ADT Solar BY LAURA ROBB

2022 REAL ESTATE EDITION

Gage Mueller, a solar energy specialist at ADT Solar, has experience in the solar industry as both a customer and a service provider. After installing solar panels on his own house in 2017, Mueller’s interest in solar grew until he decided to pursue a career in the industry in 2020 with SunPro—now known as ADT Solar, a residential and commercial solar panel company. In 2020, ADT Solar installed panels which produced more than 43,600 kilowatts of solar energy in Texas, according to Solar Power World. Answers have been edited for length and clarity.

Gage Mueller said solar panels can increase a home’s value without increasing property taxes. (George Wiebe/Community Impact Newspaper)

STATE stats

WHAT QUESTIONS SHOULD PEOPLE ASK WHEN CONSIDERING SOLAR? Homeowners should ask: ‘Do I qualify for the tax credit?’ They should call their [certied public accountant], because the solar sales guy will say, ‘The government will give you 26%.’ But it’s not true—you have to qualify. The other question that I tell people to get answered is: How will this aect your homeowner’s insurance? ... Anything attached to the dwelling is covered by homeowner’s insurance. Your premium may go up—but you need to know that ahead of time to

make an informed decision. Once solar is up, there’s nothing you can do. DOES SOLAR AFFECT APPRAIS ALS AND PROPERTY TAXES? Most of the time, solar increases the value of your house—which is good, but you don’t pay a higher property tax. If your house appraises for $200,000 today and you put $20,000 worth of solar on it, then it appraised for $220,000. Your tax liability is still $200,000—because $20,000 is solar renewable energy and qualies for an exemption. You gain the value in the appraisal, but not in property taxes.

According to the Solar Energy Industries Association, the national trade association for the solar industry, Texas was ranked number one in the nation for solar panel use in the rst quarter of 2022. SEIA data predicts Texas will lead the nation in growth in the solar industry over the next ve years.

10,088 jobs in the

of the state’s electricity is solar

3.75%

solar industry

506 solar companies 202 installers and developers

85 manufacturers

219

other

SOURCE: SOLAR ENERGY INDUSTRIES ASSOCIATIONCOMMUNITY IMPACT NEWSPAPER

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