Born and raised in DFW, I feel like I'm part of a special club these days. Growing up here, I remember riding around the city in what was commonly known as the “Little White House” with my mother, who was a real estate agent for Ebby Halliday, and watching the city change. I remember seeing the West Village when it was an empty lot. I also remember when there was almost nothing north of Route 635. And I'm just a millennial.
Over the past three decades, the entire DFW region has transformed into a vast hub of activity, with real estate development extending far beyond the city limits. The Dallas-Fort Worth-Arlington area's population has ballooned from about 4 million in the 1990s to more than 7.5 million by the latest estimates, making it one of the most populous regions in the United States.
Real estate development is a catalyst for this growth, not only in Dallas but also in surrounding cities. In the northern suburbs, places like Frisco and McKinney experienced unprecedented expansion. Once a small town, Frisco has developed into a vibrant city whose population has soared from about 6,000 in 1990 to well over 200,000 today. The development of the Dallas North Toll Road Corridor, featuring mixed-use developments and corporate headquarters, is a driving force behind Frisco's rapid transformation. But I don't think I ever heard of the place when I was a kid.
Similarly, McKinney, known for its historic charm, has embraced modernity as its population has exploded from about 21,000 in 1990 to more than 200,000 in recent years. The McKinney National Airport area is a hub of business and residential development, contributing to the city's economic vitality.
Plano, another major player in DFW, has seen its population grow from about 128,000 in 1990 to more than 290,000 today. Home to numerous corporate headquarters and a thriving high-tech sector, Plano's Legacy West development stands out as a testament to the city's commitment to creating dynamic urban spaces.
While these northern suburbs are at the forefront of growth, other regional areas are also experiencing significant change. Arlington's population has grown from about 260,000 in 1990 to more than 400,000 today. The city's entertainment district, centered around AT&T Stadium and Globe Life Field, has become a major sports and entertainment destination, spurring further development in the surrounding area.
Fort Worth, traditionally known for its cowboy culture, was not immune to the region's expansion. The city's population has increased from about 447,000 in 1990 to more than 900,000 today. The revitalization of the downtown area, cultural district, and Clear Fork development demonstrate Fort Worth's commitment to embracing growth while maintaining its unique identity.
We have experienced major changes due to dramatic population growth and large-scale development. What will the next 30 years bring?
Jack Stone is Managing Director of Multifamily Investment Sales at Greysteel.
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