Years of planning work by city leaders have translated into a strong pace of economic and community development in The Colony. Nebraska Furniture Mart broke ground September 25, 2012, on a $1.5 billion, 433-acre complex along State Highway 121 between Plano Parkway and West Spring Creek Parkway. The Omaha-based furniture retailer is owned by Warren Buffett's Berkshire Hathaway, Inc. The complex is anchored by a 1.86 million-square-foot Nebraska Furniture Mart building, and includes a 600,000-square-foot showroom. The footprint for Nebraska Furniture Mart of Texas, which opened in May 2015, is equivalent to 40 football fields and sits on approximately 90 acres. It is a part of the largest retail and entertainment destination of its kind in North America. Nebraska Furniture Mart is expected to attract over 8 million visitors and generate $600 million in sales annually.
Nebraska Furniture Mart is part of a larger, 433-acre development known as Grandscape. Grandscape, a 3.9 million-square-foot mixed-use project designed by Merriman Anderson Architects, is expected to draw high-end retail, entertainment, hotels and office space, as well as tourist attractions. High-profile tenants already joining Grandscape include Scheels All Sports and Lava Cantina.
Infrastructure projects in The Colony include the Main Street/FM 423 Widening Project by the Texas Department of Transportation, encompassing over 10 miles of construction in three cities. Improvements in The Colony involved widening four miles of Main Street from Stewarts Creek Road to State Highway 121, which concluded in the last quarter of 2017. Widening of Plano Parkway has also been completed, expanding the road from four lanes to six lanes. The Memorial-Spring Creek Connector linking Memorial Drive in The Colony to SH 121 in Plano via a railroad underpass was finished in May 2015. In addition, a new overpass has been constructed to carry South Colony Boulevard over the Sam Rayburn Tollway (SH121) using a first-in-Texas design known as a diverging diamond interchange.
While The Colony is growing, prime space is plentiful with more than 700 acres (280 ha) to develop including State Highway 121 frontage. Mixed use centers include The Cascades at The Colony; a 100-acre master-planned community consisting of 280 residences, flex office space, three hotels, and four restaurants. Another mixed use center is Austin Ranch, located west of the Dallas North Tollway and south of State Highway 121, that has prime sites for corporate campuses, commercial offices, industrial distribution parks, retail strip centers, pad sites, multi-family and single-family homes.
The median income for a household in the city was $76,613, and the median income for a family was $87,353. Males had a median income of $52,494 versus $46,864 for females. The per capita income for the city was $38,732. About 4.4% of families and 6.3% of the population were below the poverty line, including 8.7% of those under age 18 and 6.7% of those age 65 or over.As of 2017 there were 41,388 people. The racial makeup of the city was 74.6% White, 11.2% African American, 5.3% Asian, 0.4% Native American, 5.1% from other races, and 3.4% from two or more races. Hispanic or Latino of any race were 19.2% of the population.
As of the census of 2010, there were 36,328 people, 13,168 households, and 9,472 families residing in the city. The population density was 2,256.4 people per square mile. There were 14,052 housing units at an average density of 872.8 per square mile. The racial makeup of the city was 75.4% White, 8.1% African American, 5.8% Asian, 0.8% Native American, 0.1% Pacific Islander, 6.20% from other races, and 3.5% from two or more races. Hispanic or Latino of any race were 21.2% of the population.
There were 13,168 households, out of which 41.3% had children under the age of 18 living with them, 54.9% were married couples living together, 11.5% had a female householder with no husband present, and 28.1% were non-families. 21.5% of all households were made up of individuals, and 2.5% had someone living alone who was 65 years of age or older. The average household size was 2.76 and the average family size was 3.25.
In the city, the population was spread out, with 27.0% under the age of 18, 9% from 18 to 24, 33.9% from 25 to 44, 25.1% from 45 to 64, and 5% who were 65 years of age or older. The median age was 33.1 years. For every 100 females there were 99.8 males. For every 100 females age 18 and over, there were 96.2 males.
There were a total of 14,052 housing units, of which 884 (6.3%) were vacant. There were 9,022 or 68.5% owner-occupied housing units and 4,146 or 31.5% renter-occupied housing units.
The Colony Properties
About the Neighborhood
Any home sales data appearing on this page is obtained from public record sources (or estimates, for non-disclosure states) as provided by ATTOM Data Solutions and does not comprise an appraisal or a Comparative Market Analysis (CMA). This information should not be used to replace a professional appraisal nor to determine the price of a particular property.