Growth and quality of life

¨ Average Annual Household Income of $107,734

¨ Average Household Net Worth of $1,010,218

¨ Current Population of 7,500

¨ Median resident age: 37.0 years

¨ Mid-2008  average home sales: price — $265,900, size — 2,600   square feet, age — 16.9 years old

¨ Served by Northwest ISD with 13,040 students

¨ D Magazine named Trophy Club the fourth best suburb in 2008 behind University Park, Southlake and Colleyville.

Notable Points

¨ As Texas’ first planned community centering around a country club, construction began in 1973 and incorporation as a town occurred in 1985

¨ Home to the only golf course designed by Ben Hogan.

Important websites

City: www.trophyclub.org

Chamber: www.nwmetroportchamber.org

School: www.nisdtx.org

Source: numerous sources

Growth and quality of life

¨ Average Annual Household Income of $168,692

¨ Average Household Net Worth of $1,305,976

¨ Current Population of 22,500; Colleyville’s 2025 Master Plan has low and high estimates of future build-out populations of 26,020 and 27,068 respectively

¨ Median resident age: 39.6 years

¨ Mid-2008  average home sales: price — $445,900, size — 3,640   square feet, age — 17 years old

¨ Primarily served by Grapevine-Colleyville ISD with 13,860 students

¨ Some areas served by Birdville ISD, HEB ISD, Keller ISD and Southlake Carroll ISD.

Points of Interest

¨ D Magazine considers it a great mix of country, luxury and convenience

¨ The Colleyville Center hosts more than 600 events and 20,000 guests  annually.

Important websites

City: www.colleyville.com

Chamber: www.colleyvillechamber.org

School: www.gcisd-k12.org

Source: numerous sources

Growth and quality of life

¨ Average Annual Household Income of $172,526

¨ Average Household Net Worth of $1,392,765

¨ Current Population of 26,100; projected maximum build-out population of 30,160

¨ Median resident age: 36.7 years

¨ 2007 average home sales price: $616,711

¨ Primarily served by Southlake Carroll ISD with 7,900 students

¨ Some areas served by Grapevine-Colleyville ISD, Keller ISD and Northwest ISD

Points of Interest

¨ Home to well-known Southlake Town Square

¨ Annually ranked highly by D Magazine as a great DFW suburb

¨ Southlake’s sales rate is 8.25%

¨ Major employers: Sabre Holdings, Southlake Carroll ISD, Tri-Dal Ltd.  and Verizon

Important websites

City: www.ci.southlake.tx.us

Chamber: www.southlakechamber.com

School: www.southlakecarroll.edu

Source: numerous sources

Great place to live

• Listed among Money Magazine’s  Top 100 Places to Live
• Average household income of $97,173
• Average resident age of 34.4
• Current population of 47,150.

Popular tourist destination

• Grapevine hosts GrapeFest, the Southwest’s largest wine festival, every September.  GrapeFest voted a 2008 American Business Association (ABA) Top 100 Event in North America
• Main Street listed on National Register of Historic Places
• Home to more than 5000 hotel rooms
• Garners more than 18.75 million total annual visits.

Important websites

• City: www.ci.grapevine.tx.us
• Chamber: www.grapevinechamber.org
• Convention/Visitors Bureau: www.grapevinetexasusa.com
• I Love Grapevine: www.ilovegrapevinetexas.com

Source: Numerous sources

The North Central Texas Council of Governments (NCTCOG) recently released its official Jan. 1, 2008 population estimates for the greater DFW area.  NCTCOG estimates are based on building permits, occupancy factors and household size; this process differs from U.S. Census methodology.

For the five cities in the greater Southlake marketplace with over one thousand residents, Grapevine experienced the greater increase of 3.6 percent, or 1,650 new residents.  Keller had the second highest growth rate at 1.9 percent, for an increase of 700 residents.  Overall, the five cities grew by 3,150 residents, or 2.3 percent from 138,500 in January 2007 to 141,650 on January 1, 2008.

Here are population estimates for the five local  communities with over one thousand residents as of January 1, 2007 and 2008.

Colleyville
2008  22,500
2007  22,150

Grapevine
2008  47,150
2007  45,500
 
Keller
2008  38,400
2007  37,700

Southlake
2008  26,100
2007  25,700

Trophy Club
2008  7,500
2007  7,450

If you need to obtain a certificate of occupancy or learn about signage requirements within the greater Southlake area, here are the appropriate departments within each local community to contact.  

Colleyville: The Building Inspection Department handles both items. 

• Phone  817-503-1030 or visit www.colleyville.com.

Grapevine: Development Services is the division to contact. 

• Phone 817-410-3154 or visit www.ci.grapevine.tx.us.

 Keller: Contact the Development Services Division of the Community Development Department. 

• Phone 817-743-4130 or visit www.cityofkeller.com.

Southlake: The Building Inspections division handles both items. 

• Phone 817-748-8009 or visit www.cityofsouthlake.com.

Trophy Club: The Permitting staff handles both items. 

• Phone 682-831-4680 or visit www.ci.trophyclub.tx.us.

Westlake: Planning and Development is the department to contact. 

• Phone 817-490-5726 or visit www.westlake-tx.org.

As a small business owner/operator/manager, you may periodically need to attend public meetings at which important decisions impacting your business are discussed and made.  If you live in the greater Southlake market, here are the meeting times for the Planning and Zoning Commission of each community.  This commission is often referred to as “P&Z”.

Colleyville: The Commission meets the second and fourth Monday of each month. The regular session begins at 7:00 p.m., Colleyville City Hall, 100 Main Street.

Grapevine: The Commission meets on the third Tuesday of each month at 7:30 pm, Grapevine City Hall, 200 South Main Street.  Special meetings and workshops are held as needed.
 
Keller: The Commission meets the second and fourth Monday of each month at 7 p.m., Keller Town Hall, 1100 Bear Creek Parkway.

Southlake: The Commission meets the first and third Thursday, following the first Tuesday, of each month, at 6:30 p.m., Southlake Town Hall, 1400 Main Street. 

Trophy Club: The Commission meets the first and third Thursday of each month, at 7 p.m., Svore Municipal Building, 100 Municipal Drive.

Westlake: The Commission meets as needed on the fourth Thursday of each month, at 7 p.m., Westlake Town Hall, 2600 J. T. Ottinger Road.

County Business Patterns data, published by the U.S. Census Bureau, is used by individual businesses to find information about the size and location of establishments within their specific industry.  In the public sector, government officials use this resource to assemble big picture information about markets at the zip code, county, metropolitan and state levels. 

Let’s take a quick look at the greater Southlake market using the latest data available.1/  In 2005, this market area had 4,563 businesses.

Grapevine

• 1,602 establishments

Southlake

• 1,056 establishments

Keller

• 786 establishments

Colleyville

• 689 establishments

Roanoke, Trophy Club and Westlake

• 430 establishments

Furthermore, in mid-March 2005, there were 75,438 full and part-time employees of these 4,500 plus businesses.  (The government does not include proprietors and partners of unincorporated businesses.)

Grapevine

• 38,339 employees

Southlake

• 14,246 employees

Roanoke, Trophy Club and Westlake

• 9,811 employees

Keller

• 7,589 employees

Colleyville

• 5,453 employees

County Business Patterns data also includes annual payroll made by reporting businesses.  In 2005, the annual payroll of the 4,500 plus businesses of the greater Southlake market totaled $2.6 billion which includes all forms of compensation to employees.

Grapevine

• $1.1 billion

Southlake

• $645 million

Roanoke, Trophy Club and Westlake

• $481 million

Keller

• $219 million

Colleyville

• $164 million

By making a simple calculation, one can also find the average compensation per employee received by employees working in this market.  Note that this statistic is different than the average income per resident as not all employees of businesses in this market reside in the market.  For 2005, the average compensation per employee was $34,668.

Roanoke, Trophy Club and Westlake

• $48,993

Southlake

• $45,260

Colleyville

• $30,068

Grapevine

• $28,870

Keller

• $28,865

One other useful piece of information gathered from the 2005 County Business Patterns data is a breakdown of industries by community.  The top five industries in each of communities of the greater Southlake market follows.

Grapevine (zip codes 76051 and 76099)

• Retail Trade
• Real Estate and Rental and Leasing
• Health Care and Social Assistance
• Transportation and Warehousing
• Accommodation and Food Services

Southlake (zip code 76092)

• Professional, Scientific and Technical Services
• Retail Trade
• Finance and Insurance
• Construction
• Health Care and Social Assistance

Keller (zip codes 76248 and 76244)

• Professional, Scientific and Technical Services
• Construction
• Retail Trade
• Other Services (except Public Administration)
• Health Care and Social Assistance

Colleyville (zip code 76034)

• Professional, Scientific and Technical Services
• Retail Trade
• Other Services (except Public Adminstration)
• Health Care and Social Assistance
• Construction

Roanoke, Trophy Club and Westlake (zip code 76262)

• Construction
• Professional, Scientific and Technical Services
• Retail Trade
• Wholesale Trade
• Finance and Insurance

 1/ The following zip codes are included in this data: 76034, 76051, 76092, 76099, 76244, 76248 and 76262.

Over 2740 homes were sold in the Greater Southlake market in 2007.  Here’s a city-by-city breakdown.

 Colleyville

• 461 homes sold which is a 6 percent decrease from 2006
• Median price of $450,000 which is 11 percent greater than 2006
• $135 per square foot price
• 60 average days on the market

Grapevine

• 570 homes sold representing a 14% decrease from from 2006
• Median price of $220,000 which is 2 percent higher than 2006
• $103 per square foot price
• 45 average days on the market

Keller

• 921 homes sold which is a 13 percent decline from 2006
• Median price of $284,950 which is an 8 percent increase from 2006
• $107 per square foot price
• 64 average days on the market

Southlake

• 598 homes sold representing a 4 percent decrease from 2006
• Median price of $527,450 which is a 7 percent increase from 2006
• $147 per square foot price
• 71 average days on the market

Westlake

• 193 homes sold for a 18 percent decline from 2006
• Median price of $260,500 which is 11 percent higher than 2006
• $145 per square foot price
• 68 average days on the market

All five communities experienced a decline in home sales and an increase in the median price from 2006.  In total, 11 percent fewer homes were sold. 

• Data for Trophy Club is not available. 
• This information was published in the January 18, 2008 issue of The Dallas Morning News.

 As a small business owner/operator/manager, you may periodically need to attend public meetings at which important decisions impacting your business are discussed and made.  If you live in the greater Southlake market, here are the meeting times for the primary governing body in each of the local communities.   

Colleyville: City Council meets first and third Tuesday of each month, 7:30 p.m., at Colleyville City Hall, 100 Main Street. 

Grapevine: City Council meets first and third Tuesday of each month, 7:30 p.m., at Grapevine City Hall, 200 South Main Street. 

Keller: City Council meets first and third Tuesday of each month, 7 p.m., at Keller Town Hall, 1100 Bear Creek Parkway. 

Southlake: City Council meets first and third Tuesday of each month at Southlake Town Hall, 1400 Main Street.  Work session begins at 5 p.m. followed by the regular agenda. 

Trophy Club: Town Council meets first and third Monday of each month, 7 p.m., Svore Municipal Building, 100 Municipal Drive. 

Westlake: The Mayor and the Board of Alderman meet the second and fourth Monday of each month, 7 p.m., at Westlake Town Hall, 2600 J. T. Ottinger Road.