QUAIL RIDGE ESTATES FOR SALE - Amazon S3s3.amazonaws.com/loa.data/inv/3534148/Quail Ridge Estates... · 2016-09-28 · An estimated 2,400 people per month move in to Collin County

METHODS CHANGE. PRINCIPLES ENDURE. SERVICE & INTEGRITY SINCE 1914.

OFFFERING MEMORANDUM

P R E M I E R L A N D I N V E S T M N E T / D E V E L O P M E N T O P P O R T U N I T Y • 1 9 . 9 6 9 A C R E S • P R I N C E T O N , T X

QUAIL RIDGE ESTATES

LAND ADVISORY GROUP

CHRIS BURROWVice President

p 972.419.4094

m 214.244.5047e [email protected]

DILLON COOKAssociate

p 972.386.1462

m 214.738.3857

e [email protected]

FOR SALE

Sheamar Lane / CR 447

FM 982

Lake Lavon

E

Disclaimer

THE FOLLOWING INFORMATION IS FROM SOURCES BELIEVED TO BE RELIABLE, BUT HENRY S. MILLER BROKERAGE,

LLC HAS NOT VERIFIED THE ACCURACY OF THE INFORMATION. HENRY S. MILLER BROKERAGE, LLC MAKES NO

GUARANTEE, WARRANTY OR REPRESENTATION AS TO THE INFORMATION, AND ASSUMES NO RESPONSIBILITY FOR

ANY ERROR, OMISSION OR INACCURACY. THE INFORMATION IS SUBJECT TO THE POSSIBILITY OF ERRORS,

OMISSIONS, CHANGES OF CONDITION, INCLUDING PRICE OR RENTAL, OR WITHDRAWAL WITHOUT NOTICE. ANY

PROJECTIONS, ASSUMPTIONS OR ESTIMATES ARE FOR ILLUSTRATIVE PURPOSES ONLY. RECIPIENTS SHOULD

CONDUCT THEIR OWN INVESTIGATION.

2

321

Table of Contents

EXECUTIVESUMMARY

MARKETOVERVIEW

LANDADVISORY

GROUP

PROPERTY OVERVIEW

AERIAL OVERVIEW & INFRASTRUCTURE

MARKET ATTRACTION

INVESTMENT MERITS

TOPOGRAPHIC MAP

DRIVE TIME MAP

MARKET AREA DYNAMICS

ABOUT US

CONTACT US

Q U A I L R I D G E E S T AT E SP R EM IER LAND IN V ESTM ENT -

DE V ELO PM ENT O P P O RTUNIT Y

……………………………………………………………………………………………...... 5-6

……………………………………………………………………………………………...... 7

……………………………………………………………………………………………...... 8-9

……………………………………………………………………………………………...... 10-11

……………………………………………………………………………………………...... 13

……………………………………………………………………………………………...... 14

……………………………………………………………………………………………...... 15-21

……………………………………………………………………………………………...... 23

……………………………………………………………………………………………...... 24

3

EXECUTIVE SUMMARY

1 METHODS CHANGE. PRINCIPLES ENDURE. SERVICE & INTEGRITY SINCE 1914.

4

Quail Ridge Estates is located in Collin County which is the fastest growing county

in Texas. Princeton, TX has seen a population increase of 134% between the years

2000 and 2014, and has a current trade area population of nearly 24,000. Quail

Ridge Estates is positioned one mile south of Princeton Crossing, a proposed

master planned community and directly across the street from a 185-acre

proposed Princeton Junction residential development. Located 45 miles

northeast of downtown Dallas and 43 miles from DFW International Airport, this

land is ideally positioned for a new residential community, multifamily complex,

senior living facility, or townhomes.

Property Summary

Executive SummaryPROPERTY OVERVIEW

LOCATION

PROPERTY

COUNTY

SUBMARKET

LAND AREA

ZONING

LAND USE

WATER

SEWER

100-YEAR

FLOODPLAIN

FRONTAGE

SCHOOL DISTRICT

UTILITIES

FOR SALE

Morning Dove Lane, south of Myrick Lane (CR 400)

fronting Sheamar Lane (CR 447)

Eleven 1-acre lots and one 7-acre lot platted

Collin

Princeton/McKinney/Fairview

± 19.969 Acres

N/A – Unincorporated in Princeton ETJ

Multifamily, Senior Living, Townhomes, Residential

On-Site

Off-Site Located Just Across Sheamar Lane / CR 447

Approximately 5.87 Acres

± 0.114 Miles on CR 447

Princeton ISD

Water lines as well as street lights and roads have been

installed and constructed within Quail Ridge Estates

allowing for immediate development. Sewer line is

located directly across Sheamar Lane.

$1,495,000 ($74,866 Per Acre)

75

408

: City Limits: ETJ

5



Property

Whitewing Trails

6

Executive SummaryAERIAL OVERVIEW



Entrance to Quail Ridge Estates on Sheamar Lane (CR 447) View inside Quail Ridge Estates to Morning Dove Lane

Executive SummaryAERIAL OVERVIEW & INFRASTRUCTURE

7



NW

Princeton Junction186-Acres / 775 Lots / 6-Acres Commercial

Proposed Residential Community

Quail Ridge Estates – FOR SALEMultifamily / Senior Living / Townhomes / Residential

US Highway 75 (6 Miles)

Water Line: Sewer Line:

Executive SummaryMARKET ATTRACTION

Residential Developments

1) Whitewing Trails: 860 Acres

2) Park Trails: 155 Acres

3) Monte Carlo: 146 Acres

4) Abbey Crossing: 194 Acres

5) Ragon Estates: 43 Acres

6) Villas of Monte Carlo: 103 Acres

7) Trails at Riverstone: 142 Acres

8) Cypress Bend: 116 Acres

9) Princeton Crossing: 218 Acres

10) Princeton Junction: 185 Acres

Trade Area Demographics (2016)

Type Princeton McKinney

Population 24,000 161,610

Population Growth 19.20% 24.2%

Households 7,200 31,765

AverageHousehold Income

$68,839 $103,640

Average Household Size

3.02 2.91

AverageAge

35.8 30.6

Bachelor’s Degree or Higher

7.2% 28.8%

Graduate or Professional Degree

4.7% 10.3%

Princeton

2

3

4

5

1

6

7

8

8



10

9

U.S. Highway 75

(6 Miles)

Lake Lavon

(3 Miles)

Myrick Ln (CR 400)

Sh

ea

ma

r Ln

(C

R 4

47

)

CR 398

Executive SummaryMARKET ATTRACTION

: Existing: Proposed: Underway: Site

Princeton High School

Clark Junior High

School

Project: Whitewing Trails

Size: 860 Acres

Master Planned Community

Project: Ragon Estates

Size: 43 Acres


Project: Villas of Monte Carlo

Size: 103 Acres


Godwin Elementary

SchoolProject: Trails At Riverstone

Lots: 553


Project: Creekview

Lots: 171


Project: Princeton Crossing

Lots: 976


Project: Cypress Bend

Lots: 382


Status: Underway

Project: Abbey Crossing

Lots: 520+


Project: Monte Carlo

Size: 146 Acres


Project: Park Trails

Lots: 185 Ex & 490 Prop


Project: Princeton Junction

Lots: 775

Residential

9



461407380

408

Monte Carlo Blvd

Sh

ea

ma

r Ln

Myrick Ln

Proposed Collin County College

Price: $18mm (750 Students)

5 Miles East across Lake Lavon

Market OverviewINVESTMENT MERITS

Market Area

Collin County is located in north Texas, and is in the Dallas-Fort Worth-

Arlington, TX Metropolitan Statistical Area and benefits from the strong

job creation, in-migration and corporations relocating to the area and

the state. The ninth largest city and part of the fourth largest

metropolitan area in the nation, Dallas covers approximately 343 squaremiles and has a population of ±1,223,229. The city attracts worldwide

travelers, making the area the number one visitor and leisure destination

in Texas. DFW International Airport is the world’s third busiest airport,

offering nearly 1,800 flights per day and providing non-stop service to 134

domestic and 37 international destinations worldwide. In addition, Dallas

Love Field Airport is conveniently located 10 minutes from downtown.

The Dallas area is a lively, thriving cultural arts, sports and entertainment

hub featuring:

• One of the largest arts districts in the U.S.

• AT&T Stadium, home to the NFL Dallas Cowboys and venue for

numerous arts and entertainment events.

• Dallas’ Uptown Neighborhood featuring numerous restaurants, hotels,

shops and entertainment venues.

Texas has led the nation in employment and population growth over the

past five years. The state has received numerous accolades in recent

years including being named #1 in “Economic Climate” by Forbes,

“America’s Top State for Economy” by CNBC, and “Best State for

Business” for the 10th year in a row by Chief Executive.

The Dallas/Fort Worth (DFW) economy is one of the most diverse in the

country. Today, the local economy supports an employment base

exceeding 3.2 million workers and in 2015 DFW ranked second in the

nation in absolute and percentage job growth among the 20 largest

employment bases. Over that time, the metro area added 111,500 new

jobs, representing an increase of 3.5%. Moreover, Moody’s Economy.com

forecasts that from 2013 through 2018 DFW will rank first in the nation in

population growth adding 729,400 new residents and first in the nation in

employment growth, creating 482,400 new jobs.10



Collin County

An estimated 2,400 people per month move in to Collin County making it the state’s fastest growing county with a current population exceeding 900,000 and a

median age of 35. Among counties with more than a half-million people, Collin County has the highest sustained growth rate in the U.S. since the last Census in

2010, at 73.9%. The Collin County population is projected to reach 1.2 million by 2030. Collin County has a median family income of $96,184 which is 33 percent

higher than the U.S. median. In 2014, the County had a 94-percent occupancy rate for the 306,000-plus housing units there.

Many home buyers are attracted to Collin County due to its low tax rate at 23.5 cents per $1,000 of assessed value. The county has maintained an AAA bond

rating status since 2000 and is one of only four Texas counties to have such an exceptional rating.

Collin County is also recognized for its highly educated workforce. Forbes Magazine ranked Collin County second in the nation in the quality of schools. For

grades K-12, 90-percent of students attend public schools and almost 43% of the population from ages 18-24 are enrolled in college or graduate school.

Market OverviewINVESTMENT MERITS

Princeton

Plano

Melissa

Fairview

McKinney

Farmersville

75

121

75

380New Hope

11



McKinney Accomplishments (Princeton’s Sister City)

• #1 Best Place to Live in America (Money Magazine)

• #2 Best Real Estate Market in the United States (WalletHub)

• #40 Best City for First-Time Homebuyers

• #16 on the Best Cities in Texas Families List (WalletHub)

• #5 on The 10 Most Successful Cities in America List (Zippia.com)

• Collin County First in Texas County Health Rankings (Robert Wood Johnson Foundation)

• Based on measures such as adult smoking, obesity, binge drinking,

graduation rates, violent crime rates, unemployment, and air pollution levels

• #6 on list of 100 Best Cities for Young Families (ApartmentList.com)

• Top Boomtown in America (SmartAsset)

• One of the Safest Cities in America (SmartAsset)

• Top 10 Healthiest Housing Market in the United States (WalletHub)

• #5 Best Place to Live in Texas

• Highest Median Income Growth Rate in the United States

• One of the 100 Best Communities for Young People

• Top Ten Place to Move (Forbes)

• One of 100 Best Places to Raise a Family

MARKET OVERVIEW


12

Market OverviewTOPOGRAPHIC MAP

13



Market OverviewDRIVE TIME MAP

35 Miles

10 Miles

15 Miles

20 Miles

25 Miles

30 Miles

40 Miles

45 Miles

Drive Time Map

Miles Destination

8 McKinney

14 Allen

22 Plano

27 Richardson

32 Addison/The Colony

37 Lewisville/Farmers Branch

41 Downtown Dallas

46 DFW Airport14



Proximity to Major Employment Centers

The property is ideally located in proximity to the major arterial routes which provide commuters with direct access to the major employment centers in

North Texas. These include Legacy Business Park in Plano, home to J.C. Penney, FedEx, HP Enterprise Services and the North American headquarters for

Toyota, currently under construction. Liberty Mutual announced in April, 2015 its plans to have 5,000 employees working on a new campus in Legacy by

the end of 2017. FedEx has built its new national headquarters in the same area and has been at the site since mid-year 2015.

State Farm Insurance will locate 8,000 employees and occupy 2 million square feet in CityLIne, a $1.5 billion complex in Richardson. The project is just

south of Plano on the Bush Turnpike and east of U.S. 75. Raytheon has also announced plans to locate in the complex. CityLine is just over 30 minutes in

drive time from Princeton 860.

Overall, the Dallas area is home to 18 Fortune 500 companies including Exxon Mobil, AT&T, Texas Instruments, and others. Dallas/Fort Worth is ranked fifth

among metropolitan areas for Fortune 500 companies.

Top 10 Employers in Collin County

Business Employees

Texas Instruments 9,100

Bank of America Home Loans 8,000

Plano Independent School District 6,500

Frisco Independent School District 5,000

Capital One Finance 4,500

LifeCare 4,500

HP Enterprise Services 4,500

AT&T 4,300

Nortel 4,300

Toyota Motor Corp. (2017) 4,000

Various Toyota Suppliers 6,000

Market Overview

Quail Ridge

MARKET AREA DYNAMICS

15



MARKET AREA

PrincetonThe City of Princeton is located eight miles east of McKinney, nine miles due

east of U.S. 75 and one mile north of Highway 380, one of the major growth

corridors in North Texas. Lake Lavon, Collin County’s principal fresh water

supply, is located 3 miles southeast of Princeton.

City services include a chamber of commerce, public library, police

department, and a community park. The Princeton Independent School

District is a 3-A district and was named a T-STEM (Science, Technology,

Engineering, and Math) Academy in 2014. The district includes three

elementary schools, one intermediate school, one junior high school, and one

high school. Area hospitals include Baylor Hospital of McKinney, North Central

Medical Center in McKinney and Presbyterian Hospital of Allen.

Princeton High School

Princeton High School Stadium

Monaco EstatesCR 407 and FM 75

PRINCETON, TEXASMarket OverviewMARKET AREA DYNAMICS

Lake Lavon16



Market OverviewMARKET AREA DYNAMICS

McKinneyLocated 34 miles northeast of downtown Dallas, McKinney is a picturesque city with

a small-town feel that is unique in the Dallas/Fort Worth metroplex. Money Magazine

ranked McKinney the #1 Best Place to Live in America in 2014. Factors considered

included employment, schools, crime and safety, as well as overall quality of life

including a feeling of community pride.

Downtown McKinney is a national model for historic preservation and a participant

in Main Street America, a national program born out of the National Trust for Historic

Preservation. McKinney’s vibrant downtown historic district offers area residents a

wide range of retail shopping, dining, arts, entertainment and leisure opportunities.

The City of McKinney also features numerous parks and recreation centers, two

libraries, a tennis center, a golf course, and a performing arts center. In its

commentary on what makes McKinney such a great place to live, Money Magazine

stated “In a country so full of great places, choosing the best is no easy

task…Underlying McKinney’s homey Southern charm is a thoroughly modern city.

The area is a hotbed for growth-industry jobs. Career and college prep are big in

McKinney’s schools.”

McKinney Housing BoomThe appeal of McKinney has resulted in a population boom and a scramble to buy

available houses. Population increased 146% since 2000. As a result, the value of a

three bedroom home in McKinney has increased 21% in just two years – due largely

to the lack of supply. Builders are struggling to keep pace with housing demand.

They include Beazer Homes, Gehan, Ashton Woods, David Weekly, Darling and

Lennar.

17




Whitewing Trails Residential Development

Whitewing Trails, located in Princeton, TX, is an 860-acre master planned

community, and is the first and largest planned community in the Princeton

market area. This property fronts Monte Carlo Boulevard and FM 75, just 2.4

miles north of Quail Ridge Estates. The master plan for Whitewing trails includes

a 13 acre site for a new elementary school and 122 acres of open space,

which will include trails for walking, running, and biking. Located less than 40

miles away from downtown Dallas and 7 miles from historic downtown

McKinney, Princeton is in the direct path of growth from the expanding North

Dallas market. In the next 24-36 months, some of the top companies in the

world (Toyota, FedEx, State Farm, and Liberty Mutual) will be moving key

operations into the area and will be seeking an abundant workforce of more

than 15,000.

18




Whitewing Trails Residential Development - Master Plan(2.4 miles north of Quail Ridge Estates)

19



Construction Timeline

Phase Days Start End

1 325 Nov

2016Feb

2018

2 330 May

2017

Sept

2018

3 340 Mar

2018

Jun

2019

4 337 Jan

2019

Apr

2020

5 336 Nov

2019

Feb

2021

6 340 Aug

2020

Dec

2021

Total 1,229 3.36 Years


Proposed Princeton Junction Development Plat (Adjacent to Quail Ridge)

20



Sh

ea

ma

r La

ne


Proposed Quail Ridge Estates Final Plat

21



LAND ADVISORY GROUP


22

Land Advisory GroupABOUT US

23

"Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth."

- Theodore Roosevelt

What We Do

Henry S. Miller Company’s Land Advisory Group serves a diverse group of

clients and provides a wide range of strategic real estate advisory

services benefiting individual, institutional, public, private and non-profit

clients. Our team advises clients in the following areas:

Our Approach

We believe solving complex problems is achievable through careful

research and due diligence and by assigning a senior professional to

personally manage each assignment. We approach each challenge as

unique, applying the most effective combination of resources to each

project. We also believe in working collaboratively as a team and

establishing clear lines of communication with our clients.

Where We Work

The real estate professionals in the Land Advisory Group have advised

and consulted on over 500 engagements in 7 states and with 30

combined U.S. markets representing over $2 billion in value.

Our advisory team focuses on the following key property asset types in

the Dallas/Fort Worth, North Texas and Southwest U.S. markets:

Who We Are

Land Advisory Group was founded by senior real estate professionals

within Henry S. Miller Company’s Investments Division and is comprised of

individuals with nearly 125 years of industry experience. Team members

have held executive positions with nationally recognized real estate firms,

with U.S. government agencies and non-profit organizations.

• Commercial and investment property acquisitions and dispositions

as well as due diligence, research and valuations related to those

transactions;

• Strategic decisions related to property management, financing,

and cycle analysis;

• Consulting with cities, county, and state government entities in real

estate asset management, economic development, and community

revitalization strategies;

• Adding value to commercial and investment properties by obtaining

regulatory and zoning approvals and forming strategic public-private

partnerships for property owners and investors. Development land for planned residential and mixed-use projects

Mixed-Use Urban properties and development sites

Hospitality, multifamily, and office development sites

Recreational land and investment properties

Opportunistic infill land sites

L A N DA D V I S O R Y

G R O U P

Contact Information L A N DA D V I S O R Y

G R O U P

24

Contact Information

Our Industry experts are here to provide you with the answers you need. Please feel free to contact Henry

S. Miller Brokerage’s Land Advisory Group so that we may further assist you with your real estate needs.

CHRIS BURROW

Vice President

p 972.419.4094


ALEC LUCAS

Associate

p 972.386.1450


DILLON COOK

Associate

p 972.386.1462


www.henrysmiller.com

14001 Dallas Parkway, 11TH Floor, Dallas, TX 75240

T: 972.419.4000

ERIC LEYENDECKER

Associate

p 972.386.1463


Documents

QUAIL RIDGE ESTATES FOR SALE - Amazon S3s3.amazonaws.com/loa.data/inv/3534148/Quail Ridge Estates... · 2016-09-28 · An estimated 2,400 people per month move in to Collin County