The city of Frisco is no stranger to superlatives. It’s regularly dubbed “the safest,” “the friendliest,” and is one of the “fastest growing cities in the nation.” Yes, Frisco has long been a place where people have flocked to be happy, be safe, raise families and buy nice things, but with the big (sorry, huge) edition of the Dallas Cowboys World Headquarters, along with Liberty Mutual’s new campus and Toyota’s new headquarters next door in Plano, all eyes are on the friendly Dallas suburb, and even more eyes are on its real estate.
To break down the impact all these developments could have and are having on Frisco’s market, we turned to an expert. Namely, Christie Cannon, a Frisco resident one of D’s Best real estate agents.
How do you think all the development in and around Frisco will affect the city’s housing market?
It is an exciting time to be in Frisco! The name recognition that comes with the Cowboys is priceless. As we continue develop and draw new employment anchors and employees, that name recognition will keep our great city in the forefront of buyers’ minds. Likewise, the affect we will see from our new corporate neighbors will be profound. Having these employers further north will encourage and shape our growth. I also expect the area to see more corporate expansion; as the EDCs in the area continue to be aggressive in the pursuit of corporate opportunities.
Frisco is such a fast-growing city but still has plenty of land yet to be developed. How do you think the high demand for homes will shape what becomes of the undeveloped land?
Yes, our growth has been unparalleled, but the city is only about 65% built-out! We are already seeing some of the “legacy-land” here in Frisco hit the market; most recently with the sale of a portion of Brinkmann Ranch (Box Ranch). The demand for new homes and new communities will continue to rise – there simply is not enough housing to support the current demand. New build prices will likely continue to rise, as our land prices trend upwards. Frisco has done a wonderful job of seeking a solid balance of residential, commercial, and mixed-use.
It seems like more and more high-rises are making their way to Frisco. Do you think new residents may gravitate more towards apartment living?
New “transplants” bring new life, new styles, and new ideas! With this, we are seeing more and more mixed-use projects offering greater diversity in housing options. Even in single-family we are seeing new builders from out of the area, new styles, and even our traditional builders are transitioning to keep pace with out-of-state trends. With new growth, rising prices, and new employment apartments and multi-family housing become more attractive. That said, the single-family home in Frisco still rules the roost, and will likely continue to do so. While Frisco has traditionally been cautious in their approval of multi-family housing; I expect we will see more multi-family and SFR incorporated in future projects as buyers demand greater access to dining, shopping, and amenities.
Are there any up-and-coming neighborhoods or residential developments that homebuyers looking in Frisco should know about?
We could talk all day! New home communities include: Phillips Creek Ranch with huge amenities, Lawler Park with creek lots and mature trees, and the gated Newman Village, which has come on strong over this past year. I do caution buyers not to let new build prices or inventory scare you from our market; the traditional heavy hitters in Frisco will always draw interest like Trails of West Frisco, Starwood, Stonebriar, Griffin Parc, etc. Likewise, the Hillcrest & Lebanon area of Plantation Estates, Hillcrest Estates, Cecile Place and others are wonderfully priced, just off 121, and offer amazing schools and amenities. Really, we could talk all day!
Do you have any tips or insight for homebuyers looking to make the move to Frisco?
Sure I do; give us a call!
The best advice I can offer is to get started early. Frisco is much larger than people expect. The city offers such a wide variety of communities, home styles, and amenities that it can be overwhelming for home seekers new to the area. Work with someone to get to know the area, not just the houses. This isn’t just about where you lay your head at night, but where do you work, live, relax, and play – how can your home, community, & city enhance this?
And, if you are relocating from another state, don’t worry, we native Texans are easy to win over – just let us know that while you may not be from here, you got here as soon as you could.