Texas

In the world of multifamily development, it’s rare to find a market that quite literally checks every box. But in Dallas-Fort Worth’s (DFW) Far Northeast submarket, which encompasses Plano, Frisco, Allen and McKinney, that’s precisely the case. In terms of fundamental demand drivers, Collin County is growing by about 80 new residents per day, one of the fastest rates in the country. The county’s population is expected to increase by nearly 800,000 over the next two decades, and to add more than 300,000 new jobs during that stretch as well. The region also epitomizes the corporate relocations for which DFW has become renowned. The arrivals of Toyota North America, JPMorgan Chase, Liberty Mutual and FedEx have already brought thousands of high-paying jobs to the Far Northeast submarket. Just as important, these companies have established precedents for medium-sized companies to follow suit and keep the job growth train rolling. The impacts of those demand drivers on multifamily growth in the region has been tremendous. But there’s more to the story of this area’s multifamily explosion than the increase in jobs and population. Lesser-Known Factors While corporate relocations have brought swaths of millennials to the area — in Frisco, that group comprises …