Why does Frisco keep building more apartment complexes?

[luvnherkids]

Originally Posted by SAAB112

It seems like there is already enough multii family ,low cost housing available.Why not stop building apartment complexes?

What areas north of Eldorado are zoned for multi family?

Low Cost, really? I have friends of mine living in appartments, and they more than I do on my mortgage. One set is a couple, who are not married, BOTH have great jobs but at this time have no reason to purchase a house. Then both of my brothers in their early 20's, in college and working for the family business and live in one together. People like you making assumptions are a big problem in our world.

[proudmedicwife]

Some of the stereotypes on here are ridiculous. As luvnherkids said, some of the apartment rent is higher than a mortgage payment.

[ChiTownTransplant]

My understanding is that the apartments are near capacity in Frisco and the market for rentals is much stronger than the market for new homes (even though new homes are still doing fine in Frisco). I know many local apartment complexes have increased rents and reduced the amount of incentives from where they were a couple of years ago. My home would rent out for about $400 - $600 per month over my mortgage and taxes. Apartments are under construction next to Dr. Pepper Ballpark, next to Walmart on Preston, I believe there is an expansion of Post apartments on Warren and the new complex behind Target is about to expand. Also the new Sec. 8 on Stonebrook and Frisco Square is working on more apartments. I am sure there are others that I have not seen yet. They can't build apartments fast enough at Shops at Legacy. I am sure with that development nearing completion that it will only increase demand in Frisco. Not much Frisco can do about it at this point except try to attract quality developments and go with mixed use wherever possible.

[Rebel]

Originally Posted by Frisco119

Considering the fact I worked my way through college in the resturant industry, I know exactly what it is.

If you have ever studied the impact of apartments on neighborhoods you would know that generally they are a factor in said neighborhoods decline over time.

Most of our job growth in Frisco is directly attrirbutable to retail and fast food jobs, now maybe for you this is a parth to success but I see it as largely a negative. For Frisco to be viable long term, we need to be more than just another bedroom community with some sports stadiums.

Bolded part.

I think we're fortunate the code enforcement has a fairly rigorous inspection process in place for all MF housing. If the owners don't maintain them appropriately they can recieve some fairly large fines. It may not mitigate the issues with apartments entirely, but from what I've heard (and experienced in my job) we're being much more proactive than most communities.

[Number Crunch]

Originally Posted by Frisco119

Yes,

It is important to create living spaces for all our fast food and retail employees.

Now if we'd focus on "real" jobs, we could turn that demand into home sales.

This is clearly an uninformed comment. Frisco actually has a very active Economic Development Corporation (funded by sales tax revenues) and we have lots of corporate headquarters and offices here in Frisco. Do you ever drive by Hall Office Park? What about all along Parkwood between 121 and Lebanon? Have you seen the hospital being constructed at Frisco Square? What about the multiple office buildings next to the Westin at Stonebriar?

Frisco has done a very effective job of promoting businesses and corporations to Frisco - to say otherwise just shows that you don't really know what you are talking about.

[van]

Originally Posted by proudmedicwife

Some of the stereotypes on here are ridiculous. As luvnherkids said, some of the apartment rent is higher than a mortgage payment.

Yeah, was just going to post this. I was looking into apartments last year. Try and find a 2 bed in Frisco with a garage for under $1200. It was cheaper for me to rent a house. Apt's here come with big price tags

[Frisco119]

Originally Posted by Number Crunch

This is clearly an uninformed comment. Frisco actually has a very active Economic Development Corporation (funded by sales tax revenues) and we have lots of corporate headquarters and offices here in Frisco. Do you ever drive by Hall Office Park? What about all along Parkwood between 121 and Lebanon? Have you seen the hospital being constructed at Frisco Square? What about the multiple office buildings next to the Westin at Stonebriar?

Frisco has done a very effective job of promoting businesses and corporations to Frisco - to say otherwise just shows that you don't really know what you are talking about.

Relative to the cities around us like Plano and Allen, we have done a poor job of creating real, career jobs in this city. We are nothing more today than a bedroom community with over 80% of our employed residents (not counting city and ISD workers, 2 employers who provide more jobs than the next 6 companies combined) working OUTSIDE of Frisco.

It's nice to be a cheerleader but the facts do not support your claims.

And as far as EDC goes, they are in charge of NTEC, an incubator that saw the 1st (think only) real business it helped develop move to Plano and is costing the city over a $1 million a year. It has become a money pit and since it is 100% under the control of EDC, I'd say claiming the EDC is doing a 'great" job isn't "informed".

As a taxpayer, I'd like an accounting of that money and some transperency as well as a clear plan the EDC is operating under.

PS, Parkwood between 121 and Lebanon has a large church, a mall, a convention complex. Oh yeah, and plenty of open land.

[Momplus4]

Originally Posted by Number Crunch

This is clearly an uninformed comment. Frisco actually has a very active Economic Development Corporation (funded by sales tax revenues) and we have lots of corporate headquarters and offices here in Frisco. Do you ever drive by Hall Office Park? What about all along Parkwood between 121 and Lebanon? Have you seen the hospital being constructed at Frisco Square? What about the multiple office buildings next to the Westin at Stonebriar?

Frisco has done a very effective job of promoting businesses and corporations to Frisco - to say otherwise just shows that you don't really know what you are talking about.

While the EDC has brought in SOME higher end jobs, the majority of jobs in Frisco are retail, food, hospitality and support staff for sports venues. Mostly low paying.

[Momplus4]

Originally Posted by Number Crunch

This is clearly an uninformed comment. Frisco actually has a very active Economic Development Corporation (funded by sales tax revenues) and we have lots of corporate headquarters and offices here in Frisco. Do you ever drive by Hall Office Park? What about all along Parkwood between 121 and Lebanon? Have you seen the hospital being constructed at Frisco Square? What about the multiple office buildings next to the Westin at Stonebriar?

Frisco has done a very effective job of promoting businesses and corporations to Frisco - to say otherwise just shows that you don't really know what you are talking about.

Oops.,..

[Number Crunch]

Originally Posted by Frisco119

Relative to the cities around us like Plano and Allen, we have done a poor job of creating real, career jobs in this city. We are nothing more today than a bedroom community with over 80% of our employed residents (not counting city and ISD workers, 2 employers who provide more jobs than the next 6 companies combined) working OUTSIDE of Frisco.

It's nice to be a cheerleader but the facts do not support your claims.

And as far as EDC goes, they are in charge of NTEC, an incubator that saw the 1st (think only) real business it helped develop move to Plano and is costing the city over a $1 million a year. It has become a money pit and since it is 100% under the control of EDC, I'd say claiming the EDC is doing a 'great" job isn't "informed".

As a taxpayer, I'd like an accounting of that money and some transperency as well as a clear plan the EDC is operating under.

PS, Parkwood between 121 and Lebanon has a large church, a mall, a convention complex. Oh yeah, and plenty of open land.

Most of the Plano corporate development (i.e. Pizza Hut, Shops at Legacy, JC Penny, Frito Lay, etc.) actually helps Frisco's residential base, as it's closer to live in Frisco than in Plano given the proximity of those corporate locations.

Frisco is focusing its efforts on filling the vacant office space it has, which is generally for companies in the 50 to several hundred employee range. As the capital and bank markets loosen up, commercial development in DFW will begin once again (already has in downtown Dallas), and then Frisco should be well positioned to compete for these projects and potential corporate relocations, as Plano is out of funds to woo a potential big corporation (due to what it cost them to move Pizza Hut to Plano from Addison).

There are lots of highly regarded (and valued) suburbs in DFW without a dense commercial base, such as Southlake, Colleyville, Flower Mound, Highland Park, etc.), and I'd say that Frisco is way ahead of those communities in terms of these "real" jobs you speak of.