City of Plano Housing Trends Analysis
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Final Report City of Plano Housing Trends Analysis Prepared for: City of Plano Neighborhood Services Department Prepared by: Economic & Planning Systems, Inc. Pavlik & Associates EPS #173070 November 2, 2018 Acknowledgements In addition to the many residents who participated in meetings and outreach and otherwise, the project team would like to thank the following people for contributing to this work: Advisory Group Housing Advocates - Nonprofits Daniel Eng Rick Crocker, Samaritan Inn David Smith Robin LeoGrande, Community for Permanent Supported Dinesh Pai Housing Earnest Burke Jaqueline Reindl, Hopes Door New Beginnings Center Glenn Callison Isabel Camacho, Hopes Door New Beginning Center Holland Hernandez Mona Kafeel, Texas Muslim Women’s Foundation Joe Camarena Sheri Messer, City House John Paulson Jennifer Lajoie, City House Judy Drotman Kelly Martin Banking/Finance Industry Lynn Ellis Mary Alice Garza Mike Denton, University Lending Group Melissa Hailey Cassy Humberger, University Lending Group Paul Gerber Jon Humberger, University Lending Group Raj Menon Camille Ussery, BTH Bank Randy McDowell Eric Allen, Great Western Home Lending Shep Stahel Julie Shrell, Commerce Home Mortgage Teresa Tong Derric Hicks, Legacy Texas Bank Trae Williams Organizations Plano Residents and Neighborhood Asian American Chamber of Commerce Collin County Leaders Collin County Association of Realtors Collin County Black Chamber of Commerce 3,359 residents and workers in Plano that completed a Greater Dallas Apartment Association survey Plano Chamber of Commerce Daniel Butler Plano Independent School District Margaret Fitch Tri-County Regional Hispanic Chamber of Commerce Robert Miller Joe Morales Will Tarrant City Executive Leadership Nicole Threadgill Bruce Glasscock, City Manager Kisha Voss Jack Carr, Deputy City Manager (Development Services) Pam Royle Barbara Oldenburg Mayor & City Council Business Community Mayor Harry LaRosiliere Mayor Pro Tem Ron Kelley Elyse Owens, Front Burner Deputy Mayor Pro Tem Angela Miner Steve Smith, Legacy Food Hall Council Member Anthony Ricciardelli Michael Herman, Capital One Council Member Rick Grady Joe Bolash, Hilton Granite Park Council Member Kayci Prince Donny Kalluvilayil, Children’s Health Plano Council Member Tom Harrison Texas Health Resources Plano Council Member Rick Smith Housing Advocates - Developers Neighborhood Services Department Steve Brown, Karl Franklin Homes Lori Schwarz, Director of Neighborhood Services Ellen Rourke, National Housing Advisors Shanette Eaden, Housing & Community Services Manager Frank Turner, Urban Opportunity, LLC Tiffany Tononi McNamara, Neighborhood Engagement Tom Field, CT Creekside Partners Manager Daniel Smith, Ojala Holdings Dan Allgeier, Lakewood Management Consultant Team Andrew Knudtsen, Managing Principal (EPS) David Schwartz, Executive Vice President (EPS) Rachel Shindman, Associate (EPS) Linda Pavlik, President (Pavlik & Associates) THIS PAGE INTENTIONALLY LEFT BLANK Table of Contents 1. Executive Summary .......................................................................................... 1 Background .............................................................................................................. 1 Housing is Integral to the Economy ............................................................................. 2 Housing Issues and Challenges in Plano ....................................................................... 3 Summary of Findings ................................................................................................. 5 Conclusions ............................................................................................................ 15 Case Studies .......................................................................................................... 23 Policy Direction ....................................................................................................... 29 2. Demand Trends .............................................................................................. 33 Employment ........................................................................................................... 33 Population and Households ....................................................................................... 43 Stated Preferences .................................................................................................. 56 3. Supply Trends ............................................................................................... 103 Housing Affordability ............................................................................................. 111 4. Policy Context ............................................................................................... 121 Summary of Findings ............................................................................................. 121 Existing Regulation ................................................................................................ 122 Case Studies ........................................................................................................ 133 Development-Based Approaches ............................................................................. 142 Community-Based Approaches ............................................................................... 149 Organizational Infrastructure .................................................................................. 154 Policy Direction ..................................................................................................... 160 A p p e n d i x A : R e s i d e n t / W o r k f o r c e S u r v e y .............................................. 165 Open-Ended Responses ......................................................................................... 174 A p p e n d i x B : A d v i s o r y G r o u p S u r v e y ...................................................... 223 Survey................................................................................................................. 224 Appendix C: Meeting/Focus Group Topics ............................................. 229 Survey Instrument ................................................................................................ 230 Public Meeting ...................................................................................................... 234 List of Figures Figure 1 Case Study City Conditions .............................................................................. 24 Figure 2 Summary of Case Study Policy Mechanisms ....................................................... 27 Figure 3 Wage & Salary Employment, Dallas-Ft. Worth CMSA ........................................... 33 Figure 4 Wage & Salary Employment, City of Plano ......................................................... 34 Figure 5 Wage & Salary Employment, Indexed to 2002 .................................................... 34 Figure 6 Plano Employment Growth, 2002-2015 (2017 Metro Area Average Wage).............. 36 Figure 7 Shift in Employed Population by Age, Dallas-Ft. Worth CMSA ............................... 37 Figure 8 Shift in Employed Population by Age, City of Plano .............................................. 38 Figure 9 Plano Jobs by Industry and Commuting, 2002 .................................................... 39 Figure 10 Plano Jobs by Industry and Commuting, 2015 .................................................... 40 Figure 11 Plano Jobs by Location, 2015 ........................................................................... 41 Figure 12 Employment (2005) and Roadway Congestion (2007) ......................................... 42 Figure 13 Employment (2015) and Roadway Congestion (2017) ......................................... 42 Figure 14 Dallas-Ft. Worth CMSA Population ..................................................................... 43 Figure 15 City of Plano Population ................................................................................... 44 Figure 16 City Population as % of CMSA .......................................................................... 44 Figure 17 Indexed MSA & City Population Growth .............................................................. 45 Figure 18 Shift in Population by Age, Dallas-Ft. Worth CMSA .............................................. 46 Figure 19 Shift in Population by Age, City of Plano ............................................................ 47 Figure 20 CMSA Population Change by Age ...................................................................... 47 Figure 21 City Population Change by Age ......................................................................... 48 Figure 22 Consumer Price Index ..................................................................................... 49 Figure 23 Household Income, 2005-2017 ......................................................................... 50 Figure 24 Total Households by Area Median Income, 2005 ................................................. 51 Figure 25 Total Households by Area Median Income, 2016 ................................................. 52 Figure 26 Shift in Households by Income, 2005-16 ............................................................ 53 Figure 27 Residential Mortgage Lending Conditions, 2005-17 ............................................. 54 Figure 28 Owner Households with and without Mortgage, City of Plano ................................ 55 Figure 29 Respondents by Zip Code................................................................................