If considered as its own city, the 108,000-acre area -- stretching from Loop 820 on the south into Denton County to the north, Wise County on the west and Grapevine Lake to the east -- would qualify as one of the nation's fastest-growing communities, says the report released Wednesday. Hillwood hired Research & Demographics Solutions to conduct the study.
Hillwood President Mike Berry said the data will be used to help convince potential retailers and companies to locate at Alliance, and lobby state and federal transportation officials regarding expansion of Interstate 35W in north Fort Worth.
"It's a tool for us," Berry said. "We plan to use this immediately. TxDOT is certainly going to see this."
The portion of I-35W from North 28th Street and North Loop 820 was recently designated the state's most congested road by the Texas Department of Transportation. Alliance straddles the highway just north of that stretch of road.
Between 2000 and 2010, population in the broad swath of northern Tarrant County and southern Denton grew from 97,917 to 209,537, according to the report, which also looked at demographics including household income, level of education of residents and median home values.
The growth would place it seventh among the 20 largest cities in Dallas-Fort Worth in 2010, and make it the 14th largest city in Texas. Fort Worth, with a total population of 741,206, ranked No. 2 having added 206,512 people in the past decade, the report said.
The study was expanded beyond the 17,000-acre Alliance development to draw a better comparison to the 2010 U.S. Census blocks, Hillwood said.
The broader area is significantly influenced by the growth at Alliance and provides jobs, shopping, entertainment and other opportunities, it said.
Total housing units in the area increased to 75,015 from 35,419, a 111 percent increase. The value of homes also increased during the decade, with the median home value increasing by 23.8 percent to $183,929.
Median household income grew to $85,353 from $72,924, up 17 percent.
That compares to $56,349 in Dallas-Fort Worth-Arlington and $49,646 in Texas.
The number of rental housing units increased 151 percent, to 14,639, and those are 95 percent occupied, the report said.
Berry said he was impressed with the education level of Alliance-area residents, with nearly 10 percent of those 25 or older holding a graduate or professional degree, and 27.4 percent with bachelor's degrees.
"It makes us feel positive about the kind of growth and quality of growth," Berry said.
Hillwood annually conducts an economic impact study of Alliance, but this is the first time it has done an extensive demographic study. Berry said the results were "staggering to see."
"There are many reasons why the AllianceTexas region has become a leading destination for North Texas residents," Berry said.
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