residential development update
Transcription
residential development update
RESIDENTIAL DEVELOPMENT UPDATE SEPTEMBER 1, 2013 DEVELOPMENT SERVICES DEPARTMENT NEW SINGLE-FAMILY PERMITS ISSUED IN AUGUST, 2013 In August, 2013, Frisco issued 226 permits for new Single-Family residential units. RO L ATE R R D S TO NE B RO O K P K W Y L E BA NO N R D C U S TE R R D 1,641 MAIN ST I ND E P E ND E NC E P K W Y 1,577 ELDORADO PKWY CO I T R D TOTAL PA N T H E R CR E E K P K W Y H I L LC R E S T R D 192 135 221 192 224 221 226 230 PRESTON RD 65 94 114 103 141 138 157 159 141 149 169 147 D A L L A S N O R T H T O L LWAY JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC WA R R E N P K W Y L E G AC Y D R 2013 TE E L P K W Y 2012 FM 4 2 3 Month US 380 SH 121 New Commercial New Residential NOTE: Chart shows permits issued, excluding those voided or cancelled. LOT ABSORPTION RATE Questions about the content of this update or suggestions for future issues? Call 972-292-5357 or e-mail bFrey@FriscoTexas.gov. SNEW Permits Issued, 12-Month Average 187 200 175 150 125 100 - Phillips Creek Ranch - Willow Bay South - Richwoods - Lawler Park North - Stonelake Estates 42 permits 22 permits 21 permits 21 permits 13 permits 75 Builders: 6-month average: 219 /mo y-1 3 pt13 Se Jul Ma y-1 3 -12 r-1 2 Ma Jan pt12 No v-1 2 y-1 2 12-month average: 187 /mo This time last year: 159 /mo Se Jul -11 Ma y-1 2 Ma Jan r-1 1 50 pt11 No v-1 1 The contents are estimates, which are continually updated with additional data and new and/or revised submittals, and are provided for informational purposes only. Neighborhoods: ABSORPTION RATE Se This update provides a summary of residential development activity in Frisco as of the date of publication. Information shown represents a “snapshot” of activity as of a specific date (the 1st of the month). MOST ACTIVE IN AUGUST - Highland - Landon - Standard Pacific - Pulte - American Legend 31 permits 26 permits 23 permits 21 permits 17 permits SEPTEMBER 1, 2013 | RESIDENTIAL DEVELOPMENT UPDATE RECENT SUBMITTALS Frisco Lakes now moves on to parcel 2, north of Stonebrook Parkway. Villages 30, 31, & 32 (PP13-0021) were submitted in August, adding an additional 321 to the pipeline for Frisco Lakes. This brings the total Frisco Lakes lot count for plats submitted to date up to 2,644. See the tables on pages 7 & 8 for more information. PP13-0021 S N TO EB RO OK PK W Y ANTHEM DR Frisco Lakes Villages 2, 3, & 5, were submitted in July and approved in August, adding 242 lots to the pipeline. This completes the preliminary platting for all the property south of Stonebrook Pkwy. WICKFORD TRL FRISCO LAKES EDGING NORTH ANOTHER 1,000 LOTS FOR THE NORTHEAST QUADRANT ROCKHILL PKWY The northeast quadrant pipeline jumped significantly with two major submittals in August: Prairie View (PP13-0022) with 466 lots, and Miramonte, Phases 2 - 5, (PP13-0023) with 586 lots. HILLCREST RD R R C P AN T H E EE K PP13-0022 Y P KW POPULATION ESTIMATE The population of Frisco is estimated at 134,800 as of September 1, 2013, reflecting an annual growth rate of 5.5%. To subscribe to receive the monthly population estimate via email, typically sent on the first business day of each month, contact bFrey@FriscoTexas.gov. 2 COIT RD PP13-0023 The projects abut each other, and will fill in the north side of Panther Creek Parkway from Hillcrest Rd to Coit Rd. WESTRIDGE BLVD WHAT’S BEING BUILT IN FRISCO Check out our ‘What’s Being Built” web-site and see how easy it is to access project information, including maps, reports, and fact sheets. You can also find links to roadway construction, demographics, and more, in the additional resources section. Visit www.FriscoTexas.gov/Departments/ PlanningDevelopment/Pages/ WhatsBeingBuilt.aspx. RESIDENTIAL DEVELOPMENT UPDATE | SEPTEMBER 1, 2013 SINGLE-FAMILY DEVELOPMENT STAGES & TERMINOLOGY The table below describes the stages of development and This table, and the table and map on page 6 & 7 of this report, terminology for Single-Family development inSFrisco. Not all wereM created in response feedback. I N G L E - FA I LY D EtoVreader E LO P MIf EyouNhaveT new subdivisions need to go through every stage (i.e., if the questions or suggestions for future issues of this report, contact S TAG EusSat bFrey@FriscoTexas.gov & TERMIN O LO G Y property was already annexed and zoned for single-family, the or 972-292-5357. developer can proceed with a Preliminary Plat). ANNEXATION Land annexed into the City is typically given the zoning category of Agricultural (AG). “Future Capacity” is estimated based on acreage that is Residential on the Future Land Use Map (Comp Plan). ZONING Zoning to a specific category, Planned Development (PD), or Specific Use Permit (SUP), applies development standards. “Zoning Capacity” is calculated based on acreage and zoning category. PLAT For single-family subdivisions, a Preliminary Plat (PP) is the first step, followed by a Construction Set (CS), and then a Final Plat (FP). “Lot Pipeline” (PL) includes lots that are in the review and approval process (PP, CS, FP), where a permit has not yet been issued for any homes. CONSTRUCTION Construction of infrastructure (roads, water, sewer, etc.) starts at the CS stage. When the CS is approved construction may go vertical (permits issued for homes). Once the first permit is issued, or the Final Plat is recorded, the subdivision lots are classified as “Lot Inventory.” “Lot Inventory” (LI) includes lots that are permit-ready, meaning a building permit may be issued for that lot at any time without further subdivision-level reviews. Once a permit is issued it’s removed from the Inventory and labeled “Under Construction.” OCCUPANCY A Certificate of Occupancy is issued when all inspections have been passed, allowing for the homeowner (or tenant) to move in. A population extimate is calculated at this time. “Population” is estimated by multiplying the completed housing units by the persons-per-household and occupancy rates. 3 SEPTEMBER 1, 2013 | RESIDENTIAL DEVELOPMENT UPDATE SINGLE-FAMILY LOT INVENTORY One measure of potential future housing permit activity is the Lot Inventory (LI) and Pipeline (PL). The Lot Inventory is an estimate of the number of single-family (SF) residential lots that are permit-ready. The Lot Pipeline represents the lots that are in the approval process (formal submittal received). LOT INVENTORY: 2,284 Change of Inventory: Months of Inventory: By dividing the number of lots by the average monthly permits issued (from the previous 12 months), we can estimate the months of inventory. Industry experts consider the market balanced at ~24 months of inventory. 12 Based on an Absorption Rate of: 181 (SNEW/mo) 6-Month Average 12-Month Average SF LOTS - MONTHS OF INVENTORY 219 187 LOTS IN PIPELINE: 48 42 36 30 24 18 12 6 0 +124 MTM-115 YTY 35 Pipeline Change: 6,462 +1,018 MTM +1,965 YTY Months of Inventory in Pipeline: 35 Stage in Pipeline: INVENTORY PIPELINE 13 pt- y-1 3 LOTS | PP – Preliminary Plat CS – Construction Set FP – Final Plat Se Jul r-1 2 Ma y-1 3 -12 Ma Jan 12 No v-1 2 ptSe y-1 2 Jul r-1 1 Ma y-1 2 -11 Ma Jan Se pt- 11 No v-1 1 12 % |Months 3,283 | 50.8% | 17.6 3,039 | 47.0% | 16.3 140 | 2.2% | 0.7 “BALANCED” MARKET DISTRIBUTION: BY COUNTY COLLIN SF Housing Units Under Construction Lot Inventory Pipeline 22,849 583 1,158 3,048 57.6% TOTAL 27,638 BY QUADRANT DENTON TOTAL 42.4% 47.2% 16,799 609 1,126 3,414 52.8% 39,648 1,192 2,284 6,462 55.7% 21,948 44.3% 49,586 48.9% 50.7% NE 51.1% 49.3% SE SF Housing Units Under Construction Lot Inventory Pipeline 5,448 270 680 2,177 13.8% 29.1% 33.7% TOTAL 8,638 17.4% 12,903 29.8% NW 30.4% 11.1% 26.0% 16,602 23.8% 16.5% LI = LOT INVENTORY | PL = PIPELINE SE SW 11,987 479 971 3,060 NOTE: The quadrant boundaries are Main Street and Preston Road 4 NE SW 11,483 277 377 720 23.2% NW 26.7% 47.4% 10,528 139 256 505 33.5% 11,443 23.1% 41.1% 42.5% 11.9% 11.2% 7.8% RESIDENTIAL DEVELOPMENT UPDATE | SEPTEMBER 1, 2013 LOT INVENTORY BY NEIGHBORHOOD UNIT The City tracks development by several geographic areas including by County, Quadrant, and Neighborhood Unit. The Neighborhood Units (NU), labeled on the maps below, generally follow major roadways and allow a quick visual reference for development “hot spots.” For Lot Inventory (LI) and Pipeline (PL), this is an indicator of where development is most likely to occur next. 50 02 51 52 2,284 permit-ready lots 49 53 48 47 45 44 46 LOT INVENTORY 03 10 01 05 04 42 26 - 50 41 43 51 - 100 38 > 250 36 37 31 32 34 33 LOT PIPELINE AS OF SEPTEMBER 1, 2013 6,462 lots 50 48 44 45 46 LOT PIPELINE 51 - 100 42 101 - 250 41 43 40 38 22 39 251 - 500 > 500 37 36 21 32 33 31 34 4 26 159 1,051 6 90 7 41 8 160 238 9 20 193 11 4 22 14 156 137 15 187 204 12 13 14 15 17 143 75 20 19 18 17 16 18 3 31 26 27 20 10 22 49 23 24 25 33 26 198 32 4 33 14 34 14 30 24 25 28 29 35 03 10 05 04 09 08 07 06 11 12 13 14 15 20 19 18 17 16 26 27 23 30 24 25 28 29 35 LI = LOT INVENTORY | 16 94 36 01 0 1 - 50 114 11 53 47 3 06 02 49 195 07 51 52 2 08 23 22 39 101 - 250 21 40 PL 09 0 1 - 25 LI 5 Note: On the maps below, the darker the color, the greater the number of lots. LOT INVENTORY AS OF SEPTEMBER 1, 2013 NU # PL = PIPELINE 15 520 213 37 135 442 38 257 273 39 53 62 41 43 527 42 187 164 43 181 1,364 44 14 45 21 47 56 131 48 129 49 24 51 64 TOTAL 2,284 182 6,462 5 SEPTEMBER 1, 2013 | RESIDENTIAL DEVELOPMENT UPDATE LOT INVENTORY & PIPELINE ESTIMATES BY NEIGHBORHOOD 03 53 52 51 50 01 02 39 55 04 05 9 2 10 47 48 60 09 6 4 20 22 46 12 11 40 37 56 26 29 67 3 53 41 59 38 13 8 MAIN STREET 42 63 54 42 37 17 58 57 15 18 5 17 50 52 10 16 11 24 49 1 25 23 26 27 38 30 29 31 32 28 21 34 33 43 The numbers on the map above correspond to the table on the following page. The table shows the number of lots submitted to date (not including future phases), the Lot Inventory (permitready lots), and number of lots in the Pipeline. 35 46 47 44 6 23 22 48 19 65 15 39 16 64 18 51 41 24 36 06 14 13 34 12 25 07 66 30 20 68 62 33 19 21 40 35 61 32 28 45 44 08 31 PRESTON ROAD 49 43 36 27 14 45 7 23 Neighborhood Unit Number 13 Neighborhood (refer to table at left) The table on pages 7 - 8 provides more details on projects in the Pipeline, including phasing and stage of development. For more information on the development process, refer to the chart on page 2. RESIDENTIAL DEVELOPMENT UPDATE TOTAL LI LOTS # NU NEIGHBORHOOD 1 2 23 Chapel Creek 48, 49 Christie Ranch 273 24 15 479 40 56 131 37 11 Preston Estates 77 4 38 26 Richwoods 1,159 198 91 39 2 Rockhill at Preston 195 40 45 Shaddock Creek 690 21 22 41 14 Sorano 130 37 42 22 Starwood 864 8 43 33 Stonebriar 531 2 44 33 Stonebriar Country Club 95 12 45 34 Stonebriar Creek Estates 70 4 46 34 Stonebriar Park, Villages of 692 4 47 34 Stonebriar, The Chase at 133 1 48 39 Stonebrook Crossing 67 52 Stonebryck Manor 76 33 351 4 47 Cobb Farm 280 Creeks on Coit 82 3 Creekside at Preston 824 5 7 34 Creekside at Stonebriar 138 5 8 11 Creekside Village 22 9 4 Crown Ridge 385 15 10 15 Custer Creek Farms 97 8 11 17 Cypress Creek 285 1 12 41 Diamond Point Estates 51 13 43 14 49, 51 2,644 74 Grayhawk 1,948 75 15 20 Hickory Springs 84 10 16 37 Highland Ridge 117 47 17 37 Hills of Kingswood 234 77 18 6 Independence Estates 83 83 19 36 Kingswood Village 199 20 48 Knolls of Frisco 234 10 Lakes on Legacy 509 4 21 32 72 51 Frisco Lakes 412 466 351 9 1,183 Prairie View Church Property (aka Malibu) 6 37, 38, Phillips Creek Ranch 42 5 43 18 35 TOTAL LI LOTS 36 3 5 # NU NEIGHBORHOOD PL | SEPTEMBER 1, 2013 1,013 49 25, 18 15 Stonelake Estates 281 1 51 6 Stonelake Estates West 383 3 199 52 15 Stonelake Estates, Villages of 692 178 53 43 Stonewater Crossing 243 32 54 41 The Canals at Grand Park 377 377 55 3 The Heights at Rockhill 114 114 56 44 The Trails 57 36 Twin Creeks 109 58 39 Verde Village 14 1 59 41 Village Lakes 267 27 60 48 Villas at Belle Creek 30 2 68 23 17 Lawler Park North 344 142 75 24 16 Liberty Crossing 94 37, 38, Lone Star Ranch 39 484 41 190 13 754 11 672 61 43 Waterstone, The Landing at 136 2 92 96 62 43 Waterstone, The Shores at 156 72 105 63 43 Waterstone, Vistas at 130 1 64 7 Willow Bay 674 41 27 4, 5 Miramonte 28 48 Newman Village 383 29 42 Oakmont at Frisco 105 30 8 Panther Creek Estates 31 9 32 31 50 126 Meadow Creek 56 111 Latera 44 520 195 9 26 493 466 22 25 PL 94 137 2,052 1 109 30 1,073 93 Panther Creek, Dominion at 402 10 34 65 14 Willow Bay South 557 119 8 Panther Creek, Ridgeview at 356 67 238 66 6 Winding Creek Estates 244 4 33 9 Panther Creek, The Village at 438 3 67 42 Windsor Place 186 2 34 41 Park Place Estates 445 16 68 22 Wyndsor Pointe 65 41 99 204 137 TOTAL LOTS = LOTS SUBMITTED (does not included future phases) LI = LOT INVENTORY | PL = PIPELINE 7 SEPTEMBER 1, 2013 | RESIDENTIAL DEVELOPMENT UPDATE LOT PIPELINE ESTIMATES BY NEIGHBORHOOD NEIGHBORHOOD SUBDIVISION PLAT CHAPEL CREEK CHRISTIE RANCH CHURCH PROPERTY COBB FARM CREEKSIDE AT PRESTON CREEKSIDE VILLAGE CROWN RIDGE DIAMOND POINTE ESTATES FRISCO LAKES HILLS OF KINGSWOOD KINGSWOOD VILLAGE LATERA LAWLER PARK NORTH LIBERTY CROSSING LONE STAR RANCH MIRAMONTE 8 PP CS CHAPEL CREEK, PH 3A 15 CHRISTIE RANCH, PH 2D 56 CHURCH PROPERTY, PH 1 CHURCH PROPERTY, PH 2 CHURCH PROPERTY, PH 3 CHURCH PROPERTY, PH 4 CHURCH PROPERTY, PH 5 99 70 56 62 64 COBB FARM, PH 3A COBB FARM, PH 3B 60 71 BELMONT WOODS (CREEKSIDE AT PRESTON, PH 4C) 91 CREEKSIDE VILLAGE 22 CROWN RIDGE, PH 3B 72 DIAMOND POINTE ESTATES 51 FRISCO LAKES - VILLAGE 1 FRISCO LAKES - VILLAGE 2 FRISCO LAKES - VILLAGE 3 FRISCO LAKES - VILLAGE 4 FRISCO LAKES - VILLAGE 5, PH 1 FRISCO LAKES - VILLAGE 5, PH 1 FRISCO LAKES - VILLAGE 6 FRISCO LAKES - VILLAGE 7 FRISCO LAKES - VILLAGE 24, PH 2B FRISCO LAKES - VILLAGE 26 FRISCO LAKES - VILLAGE 30 FRISCO LAKES - VILLAGE 31 FRISCO LAKES - VILLAGE 32 145 141 35 HILLS OF KINGSWOOD, PH 2A HILLS OF KINGSWOOD, PH 2B 51 KINGSWOOD VILLAGE, PH 1 KINGSWOOD VILLAGE, PH 2 KINGSWOOD VILLAGE, PH 3 KINGSWOOD VILLAGE, PH 4 61 41 51 61 37 91 108 50 64 72 106 16 87 60 46 LATERA, PH 2 LATERA, PH 3 32 THE CROSSING AT LAWLER PARK, PH 3A THE CROSSING AT LAWLER PARK, PH 3B 36 39 36 LIBERTY CROSSING 94 QUAIL MEADOW VILLAGE, PH 3 THE PRESERVE @ LONE STAR RANCH 62 75 MIRAMONTE, PH 1B MIRAMONTE, PH 2 MIRAMONTE, PH 3 MIRAMONTE, PH 4 MIRAMONTE, PH 5 FP 87 255 117 100 113 RESIDENTIAL DEVELOPMENT UPDATE NEIGHBORHOOD SUBDIVISION PLAT NEWMAN VILLAGE PP | SEPTEMBER 1, 2013 CS NEWMAN VILLAGE, PH 2B 96 OAKMONT AT FRISCO 105 PANTHER CREEK, DOMINION AT DOMINION AT PANTHER CREEK, PH 4C 34 PANTHER CREEK, RIDGEVIEW AT RIDGEVIEW AT PANTHER CREEK, PH 2 RIDGEVIEW AT PANTHER CREEK, PH 3 140 98 OAKMONT AT FRISCO PARK PLACE ESTATES PHILLIPS CREEK RANCH (PCR) RICHWOODS ROCKHILL SHADDOCK CREEK STONEBRYCK MANOR STONELAKE ESTATES THE CANALS AT GRAND PARK THE HEIGHTS AT ROCKHILL TWIN CREEKS VILLAS AT BELLE CREEK WILLOW BAY SOUTH PARK PLACE ESTATES, PH 2 PARK PLACE ESTATES, PH 3 53 46 PHILLIPS CREEK RANCH, PH 4A PHILLIPS CREEK RANCH, PH 4B MAINVUE. PH 1 MAINVUE, PH 2 WATERTON, PH 2 WATERTON, PH 3 115 158 81 80 29 30 RICHWOODS, PH 11B RICHWOODS, PH 11C RICHWOODS, PH 14 RICHWOODS, PH 16 RICHWOODS, PH 17 RICHWOODS, PH 18 RICHWOODS, PH 19 RICHWOODS, PH 20 RICHWOODS, PH 21 40 15 ROCKHILL AT PRESTON 195 79 56 66 55 84 78 47 SHADDOCK CREEK ESTATES, PH 6B STONEBRYCK MANOR, PH 2 56 31 VILLAGES OF STONELAKE ESTATES, PH 3 VILLAGES OF STONELAKE ESTATES, PH 4A VILLAGES OF STONELAKE ESTATES, PH 4B THE CANALS AT GRAND PARK, PH 1B NORTH THE CANALS AT GRAND PARK, PH 2 NORTH THE CANALS AT GRAND PARK, PH 1B SOUTH THE CANALS AT GRAND PARK, PH 2B SOUTH THE HEIGHTS AT ROCKHILL TWIN CREEKS, PH 1 TWIN CREEKS, PH 2 107 33 64 123 102 135 17 114 95 14 VILLAS AT BELLE CREEK THE ARBORS AT WILLOW BAY SOUTH, PH 4 TOTAL FP 30 137 3,283 3,039 140 9 SEPTEMBER 1, 2013 | RESIDENTIAL DEVELOPMENT UPDATE MULTI-FAMILY AND MIXED-USE RESIDENTIAL Most of the new projects are along the S.H. 121 or Dallas North Tollway Corridors. Likewise, most of them are Mixed-Use projects (see table on page 10 for more information). MA IN ST R EET Please note this map does not include projects with fewer than 80 units. 10 AS OF MF UNITS MXD UNITS TOTAL JANUARY 1, 2013 6,386 1,324 7,710 SEPTEMBER 1, 2013 6,520 1,911 8,431 COMPLETION OF ALL IN PIPELINE 6,872 3,609 10,481 P RE S TO N ROAD Multi-Family (MF) and Mixed-Use (MXD) Residential projects have kept pace with the increase in Single-Family growth this year. Three projects have completed so far in 2013, three are under construction, and three are expected to begin construction within the next six months. E X I S TI N G M F PROPOSED MF E X I S TI N G M X D PROPOSED MXD RESIDENTIAL DEVELOPMENT UPDATE | SEPTEMBER 1, 2013 MIXED-USE SUBMITTAL FIRST OF ITS KIND IN FRISCO SEVILLA DRIVE WATERMERE @ THE CANALS AT GRAND PARK Watermere is a Senior housing development with 238 units for Independent Living and a second building with 111 Assisted Living beds (not shown in MXD total). FUTURE DEVELOPMENT CANAL STREET This is Frisco’s first Mixed-Use Senior housing project, with integrated space for rehab and other professional services. ASSISTED LIVING REHAB CENTER INDEPENDENT LIVING CENTER COTTON GIN ROAD NEARING COMPLETION Cool Springs Phase 2 will be the next project to begin releasing units for occupancy. The first units are expected to release in September or October, with final occupancy projected to be in December or January 11 SEPTEMBER 1, 2013 | RESIDENTIAL DEVELOPMENT UPDATE MF AND MXD PROJECTS IN THE PIPELINE 7 MF/MXD IN THE PIPELINE SW B12-0117 COMPLETED IN AUGUST SW B11-2741 NEARING COMPLETION SW B12-1232 UNDER CONSTRUCTION NW B12-1107 UNDER CONSTRUCTION SW B13-1604 PERMIT APPROVED SW SP13-0043 SP APPROVED SW PSP13-0022 PSP UNDER REVIEW MF MXD UNITS RELEASED 134 NORTH COURT VILLAS 8275 Stonebrook Pkwy COOL SPRINGS, PH 2 8100 Gaylord Pkwy AMALFI @ STONEBRIAR COMMONS, PH 1 5275 Town & Country Dr THE EMERSON @ FRISCO MARKET CENTER E side of Legacy, N of Main AVENUES of PHILLIPS CREEK RANCH 290 395 410 352 NEC FM 423 & Stewart Creek Rd AMLI @ THE BALLPARK, PH 2 365 Avenue of the Stars & IKEA Dr WATERMERE @ THE CANALS AT GRAND PARK 238 Cotton Gin & Canal Street 352 TOTAL: 1,698 2,050 134 NOTES: 1 In Frisco, Multi-Family (MF) developments are generally medium density (15-19 units/acre), garden-style apartments where there is a predominance of surface parking. Mixed Use Residential (MXD) developments are generally higher density apartments consisting of four stories and where there is a predominance of structured parking. The ground floor of the MXD developments may consist of residential units, nonresidential uses (typically retail), or flex space. 2 Projects listed are currently in the review/approval process or have obtained entitlements to the point where they have little or no review required prior to pulling a building permit. A separate list is maintained for potential future projects with zoning in place and/or pre-submittal meetings have occurred but no formal submittal. 3 The Canals at Grand Park rezoning is approved; individual parcels will be added to the Pipeline listing as they come in for review. The project will include Mixed-Use, Single Family and Assisted Living, for a total of 1,974 residential units. For more info on this project, including a master plan graphic, go to: www.FriscoTexas.gov/Departments/PlanningDevelopment/Planning/Pages/Z12-0019.aspx. 4 Units Released are completions with a Certificate Occupancy (released for occupancy). UNITS BEING RELEASED FOR OCCUPANCY 12 UNDER CONSTRUCTION PERMIT PULLED