Suburbs in 20 Years

[TheOverdog]

I think it may already even be larger than Fort Worth?

Yes, Los Colinas is also a bigger employment district for good-paying office jobs than Ft Worth. It's really not even close. When it comes to jobs, Ft Worth is a suburb of the north Dallas/Irving/Plano corridor.

[Dallas12]

Where do you think Richardson will be in 20 years?

Today, it's a major employment center, growing UTD presence, a very diverse population, decent infrastructure given it's close to Dallas, and is a hub for DART. Oh, it's revitalizing its downtown area and creating an innovation hub.

But it also has some tough neighborhoods near Coit, a higher than average amount of commercial vacancies, and lots of competition from nearby suburbs for commercial activity.

[turf3]

Richardson will be fine. There are always going to be people who don't want to live out in BFE. The rising property values all round that pocket of nasty along Coit will drive matters.

[mastershake575]

Originally Posted by Dallas12

Where do you think Richardson will be in 20 years?

Today, it's a major employment center, growing UTD presence, a very diverse population, decent infrastructure given it's close to Dallas, and is a hub for DART. Oh, it's revitalizing its downtown area and creating an innovation hub.

Richardson is arguably the most stable aging suburb in all of Dallas county

90% of the old neighbhorhoods are still upper middleclass (Sherrill Park, Crowley, Breckinridge, Reservation, Canyon Creek, Praire Creek, Duck Creek, Heights Park). School district just got a huge tax bill passed so funding is increasing. Very desirable location geographically (it's literally in the middle of the metroplex and close promixity to 4 major highways).

Even with the zoning being mostly residential the re-doing of downtown, cityline project, UTD college growing (they never stop construction on it) and over 100k jobs in the telecom corridor all keep the city plenty busy economically

Originally Posted by Dallas12

But it also has some tough neighborhoods near Coit

There's no rough neighbhoorhoods in Richardson proper. All the semi tough neighbhorhoods are in Dallas (Coit, Springvalley, parts of buckingham). Coming from an actual Richardson cops mouth it adds a little bit of petty crime near the border and makes the school feeder a little more diverse once you reach the middle school level (nothing signicant or major)

Originally Posted by turf3

Richardson will be fine. There are always going to be people who don't want to live out in BFE. The rising property values all round that pocket of nasty along Coit will drive matters.

Agreed. Not only is the rough parts of Coit/Spring valley not Richardson (it's Dallas) it's like you said pricing people out due to price increases.

The neighbhorhood South of UTD (Greenwood Hills) for example use to be one of the very few areas of Richardson that had kind of a mixed bag of rent houses and lower middle-class income familes. The houses now are being fixed and selling for $300-380k so it's pricing lower income familes out and improving the quality of the neighbhorhood. The former rent owners have sold alot of the inventory to new familes since houses are selling for 3x the price of what they originally bought them for (tide has shifted from rent area to family home owners)

[Dallas12]

I'm not too educated on the Fort Worth side of the Metroplex, so I don't know how their suburbs are performing. However, from the Dallas side, I can say that Richardson might fare off as one of, if not, the most stable suburb. It's location and proximity to Dallas is unmatched, and the DARTs' Silver Line to DFW Airport will further its importance in the region.

[EcoDeb]

Originally Posted by naterator

That's an interesting question. In 20 years:

A nearly-100 year-old Jerry Jones will be tired of The Star at Frisco and AT&T Stadium, and will be looking for new cities willing to fork over the billions for a new Dallas Cowboy headquarters and stadium. Perhaps Pottsboro will see this as a way to put itself on the map.

Frisco won't lose a big chunk of its population. Rather, it will look a lot like Irving. The original owners will rent the properties out to temporary visa holders, not sell, since property values will continue to increase. I'd expect the upkeep of homes to be what you'd expect of 20 year-old rental homes. The thousands of apartments near Hall Park could go either way. The shops nearby as well.

The DNT will run clear up to Highway 82, and we'll be talking about the boomburbs between Sherman and Gainesville, with easy recreational access to Lake Texoma.

Denison gets a second lease on life as a cool "Bohemian" enclave (like Kessler Park in Dallas), and Austin College gets much more selective, now able to attract more students.

I don't think commute times will increase - I think remote working will be the norm, not the exception by then.

380 will be a 20 lane super hwy and to imagine Jerry Jones being 100...it's possible! LOL

[nissan]

Originally Posted by naterator

I don't think commute times will increase - I think remote working will be the norm, not the exception by then.

IMO this will play a significant factor in how cities like Frisco fare in 20 years. Many more companies are seriously considering keeping a large portion of their office (non-frontline) workforces WFH when we are living in the "new normal." In calls with F500 leadership teams across various industries, many of these SLTs see their workforce productivity the same or only slightly worse (<2%) in WFH vs. pre-COVID where the same workers were in the office. Almost all of them said they are considering plans to keep WFH in place as productivity remains unchanged, while costs can decrease materially.

Whether that's good or bad for cities like Frisco is debatable. If WFH becomes the norm for high-paying, white collar jobs, does that mean more people choose a farther away 'burb to stretch their home dollar? Or, if someone is WFH for a company in San Fran, NYC or Boston maybe they relo to a Dallas 'burb where they can enjoy the same salary and drastically reduce their COL (and get their kids into a better school district). Will be interesting how that pans out.

[malcorub16]

Originally Posted by NTXPerson

Where do you think Frisco will be in 20 years? I understand there is a large Asian population in Frisco that I've been told prefer new homes (generalizing here). In 20 years when those homes are no longer new, will a large chunk of Frisco's population move away? Who would move in? Will it's demographics change? What about the other booming suburbs? Will people be commuting 2 hours+ just so they can get new housing?

Random thoughts of the day brought to you by being bored at home.

The concept of moving out because "the house is old" is a very Texas and SW US thing where space is abundant. This sort of mentality creates mass sprawl. These days the most expensive housing is not the newest, but rather the most conveniently located.

[aggie972]

Originally Posted by malcorub16

The concept of moving out because "the house is old" is a very Texas and SW US thing where space is abundant. This sort of mentality creates mass sprawl. These days the most expensive housing is not the newest, but rather the most conveniently located.

And the next 10 years may be very different from the last 10. Working from home may be the new normal for white collar jobs, and being close to downtown dallas or another business corridor won't be as important. In fact, people may decide that the 3,000 sf home in Prosper is more comfortable for 2 adults WFH than the 1,500 sf renovated ranch in the city.

[TheOverdog]

IMO this will play a significant factor in how cities like Frisco fare in 20 years. Many more companies are seriously considering keeping a large portion of their office (non-frontline) workforces WFH when we are living in the "new normal." In calls with F500 leadership teams across various industries, many of these SLTs see their workforce productivity the same or only slightly worse (<2%) in WFH vs. pre-COVID where the same workers were in the office. Almost all of them said they are considering plans to keep WFH in place as productivity remains unchanged, while costs can decrease materially.

Another new high-rise building in the Legacy corridor was just approved and will soon break ground, and all the commercial and residential properties under construction are still under-construction, which if you compare to the Recession of 2008, commercial properties (and residential) were just left half-completed and abandoned, so I don't think the industry shares this view of working from home, at least not yet.