There’s a new project in Euless, Texas located north of Ash Lane, east of N. Main Street. The project is called Ashlyn Estates and it is being managed and built by Key Life Homes which built Running Bear Estates. I thought it’s important to take a look at the project and the positive impact it will have on our community.
Stephen A. Cook, AICP, Senior Planner, City of Euless provided the zoning information as follows.
Location/Zoning: 9.2562 acres located north of Ash Lane, east of N. Main Street. The property is currently zoned single family detached dwelling (R-1) district
Planned Development to change the zoning of approximately 9.2562 acres of land within the B.F. Crowley Survey Abstract
Project Description: The subject parcel for the rezoning has been owned by the Hurst Euless Bedford Independent School District for many years. Concluding that the site is no longer to be considered for additional capital improvement for the ISD, the Board of Trustees authorized the property to be sold through a sealed bid auction. Key Life Homes is the highest bidder. A condition of closing on the property is for Key Life Homes to secure land use entitlement. Key Life Homes is proposing to develop the property for a single family residential development. The property is currently zoned R-1 single family detached dwelling district. Key Life Homes is requesting to rezone the property to a Planned Development district in order to manage and design the property to alternative design standards in order to efficiently utilize the property and to bring forward a higher quality housing development.
Here’s a little information about the builder. Key Life Homes
Zack Penn V.P of Key Life homes is really excited to be a part of the revitalization of Euless. He not only builds in Euless but lives here as well.
This projects will have 42 lots with 40 of them being home sites. The home size will be somewhere around 2100-2200 square feet. The price range will start at the mid 300’s. They hope to have the model up by the end of the year but will be doing pre-opening lot sales. The community will benefit from the beautiful park it’s nestled up to. Key Life Homes has really become an important economic player for the city of Euless. Here’s more about Key Life Homes. Our founder, Terry Penn, has been building since 1983. It was never his goal to be the biggest, only the best. Serving our customers, the home buyers, has always been a top priority for Terry, and that commitment has never nor will ever waver. Our history really started even before 1983 as Herbert Penn, Terry’s father, helped pave the way with his many years of construction experience. Herbert’s philosophy was do it right, and always do the right thing. We believe we are not only building homes for special people, but we are building neighborhood communities to make our cities better .We are a builder that listens, and by listening we make our homes and communities better. Giving back to our community is an important part of who we are.
How does all of this impact the city of Euless? I’m a Realtor in Euless, Texas and can say first hand this project will have a positive economic benefit to the city. Lets look at the impact projects like this have to the city.
Construction projects are about more than building homes, roads, and commercial buildings. Assessing, the impact is the first step in moving forward with a construction project. Once you do that, you can incorporate strategies to create a positive impact on the entire community.
Positive Economic Benefits
Economics play an important role in most decisions, including construction. Builders often claim that new construction creates an economic boom, but is that true?
It is, according to the National Association of Home Builders.
In a recent report, the Association stated that the one-year economic impact of building 100 single-family homes with an average price of $378,000 is astronomical. Those 100 homes generate an estimated $28.7 million in local income, $3.6 million in revenue for the local government, and 394 jobs for the local community.
Local economies also enjoy recurring income after building those homes. They can expect to bring in $4.1 million in local income and $1 million in government revenue each year, along with 69 new jobs for the local community.
The economic benefits don’t stop there. Business owners make more money, so there is more money for local wages and salaries.
While the study was based on 100 single-family homes, the benefits are also true for apartments. Also, you don’t need to build 100 pieces of property to enjoy the economic benefits. They will be on a smaller scale, but the local community will still appreciate them.
Commercial Real Estate Construction
Commercial real estate has an economic impact on local communities, as well. In a study conducted by the NAIOP Research Foundation, it was determined that pre-construction, construction, and post-construction all have a significant economic benefit when related to commercial real estate. While pre-construction and construction mainly have national benefits, post-construction benefits the local community.
At the end of the day projects like this will really enhance our city and improve our lifestyle.
For more information you can call Zack Penn at 214-957-3096 or go to https://keylifehomes.com