Today was such a treat! We were so lucky that the Mayor of Allen, Steve Terrell, took time out of his busy schedule to meet with our Real Estate Group. He filled us in on several topics and you can really sense his passion for what he does. He has held his position as Mayor for 15 years and it's clear to see that without his vision, Allen would not be the success it is today. I'd like to share some interesting things we took away from our meeting.
- Overall debt is only 12%
- There are 156 restaurants in Allen
- City is 57% commercially developed
- Ms. McDermott owns the largest piece of undeveloped land in Allen at 788 acres
- The Allen Events Center cost the city 53 million to build...and it's the only Sports Arena in the metroplex that doesn't charge for parking for games
- Allen will be launching a federally funded "Reverse Commute" program in which buses will transport you around the city from hotels to shopping to restaurants to movie theaters.
- Total budget for Allen per year is about 211 million, which inclues the water & sewer fund
We also discussed the possibility of DART expanding through Allen and McKinney. It is mindblowing to learn that it costs approximately 85 million per mile to install DART. Also, if it was voted on today to install DART, it would take 15 years to build.
Lastly, there are only a handfull of new construction communities left so don't miss out investing in the best place on Earth....oh wait that's Disney World...well, Allen's close enough in my mind.
To search for properties in the MLS for Allen, TX click here:
