The Colony - City By The Lake
The Colony - City By The Lake

Situated on the eastern shore of Lewisville Lake, The Colony, Texas, is a rapidly growing city that combines the warmth of a tight-knit community with the amenities of a bustling urban area. With a population of around 45,000, The Colony might be smaller than some of its neighboring cities in the Dallas-Fort Worth metroplex, but what it lacks in size, it more than makes up for in charm, opportunity, and excitement. From its diverse demographics and thriving industries to its dynamic real estate market and hidden treasures, The Colony is a city that invites exploration.

The Colony 75056

In July 2024, The Colony home prices were up 4.9% compared to last year, selling for a median price of $451K. On average, homes in The Colony sell after 25 days on the market compared to 29 days last year. There were 47 homes sold in July this year, down from 52 last year.

The Colony’s real estate market has been experiencing a boom, driven by the city’s economic growth and the increasing demand for housing in the Dallas-Fort Worth area. The city offers a variety of housing options, from affordable starter homes to luxurious estates, catering to a broad spectrum of buyers.

One of the key attractions for homebuyers in The Colony is the city’s proximity to Lewisville Lake. Many homes in the area offer stunning lake views and easy access to outdoor recreational activities, making them highly desirable. The city’s neighborhoods are well-planned and family-friendly, with excellent schools, parks, and community amenities.

In recent years, new developments have been springing up throughout The Colony, offering modern homes with the latest amenities. Despite the rapid growth, the city has managed to maintain a relatively affordable housing market compared to other parts of the Dallas-Fort Worth metroplex, making it an attractive option for both first-time buyers and those looking to upgrade.

A Dynamic and Growing Population

The Colony’s population has seen significant growth in recent years, reflecting the city’s increasing popularity as a residential and business destination. The city’s demographics are diverse, with a mix of young professionals, families, and retirees calling The Colony home. The median age is in the mid-30s, indicating a youthful and vibrant community. The city’s population is also relatively affluent, with a median household income of $111,589.

The city’s diversity is further reflected in its cultural makeup, with residents from various ethnic backgrounds contributing to a rich and inclusive community life. This diversity is celebrated through numerous community events and festivals, fostering a strong sense of belonging among residents.

Price Drops As Reported By FLyhomes.com
Price Drops As Reported by Flyhomes - Please click picture to visit Flyhomes.com
Subdivision North Texas
Census Colony
Census The Colony - Click Picture To Visit Data.Census.Gov

Industry and Economic Growth

The Colony has transformed into a significant player in the regional economy, thanks to its strategic location and business-friendly environment. The city is home to a variety of industries, with retail, hospitality, and technology being among the most prominent. One of the biggest developments in recent years has been the opening of Grandscape, a massive retail, dining, and entertainment complex that has become a major attraction not just for residents of The Colony, but for the entire Dallas-Fort Worth area.

Grandscape is anchored by Nebraska Furniture Mart, one of the largest furniture stores in the country, which draws shoppers from miles around. The complex also features a variety of dining options, from upscale restaurants to casual eateries, as well as entertainment venues, including a state-of-the-art movie theater and an outdoor performance stage. This development has significantly boosted the local economy, creating jobs and attracting visitors from across the region.

In addition to retail and hospitality, The Colony is also seeing growth in the technology sector. Several tech companies have established operations in the city, taking advantage of the skilled workforce and favorable business conditions. Immersive media entertainment companyCosmis set to open its 65,000 square-foot venue at theGrandscape development in The Colony Aug. 31, according to a news release. Read more about Cosm on Community Impact.

Routine Maintenance For Your Home

Bob Vila has always emphasized the importance of regular home maintenance in preserving the value and integrity of your property. Just like a car needs routine check-ups to run smoothly, your home requires consistent care to avoid costly repairs down the road.

Prioritize these three maintenance tasks:

  • Roof Inspections and Repairs: A small leak can quickly turn into a major issue, leading to water damage, mold, and structural problems. Annual inspections and minor repairs typically cost between $150 to $400, while a full roof replacement can range from $5,000 to $10,000.
  • HVAC System Maintenance: Regular servicing of your heating and cooling system can prevent breakdowns and improve efficiency. A yearly maintenance check costs about $100 to $200, whereas replacing a failed system could set you back $4,000 to $7,000.
  • Gutter Cleaning and Maintenance: Clogged gutters can lead to water damage, foundation problems, and even basement flooding. Cleaning gutters typically costs around $100 to $250, but neglecting this task could result in repairs that easily exceed $1,000.

Top Ten Expensive Home Repairs

List of referrals coming soon!

In celebrity news, Bob Vila, America’s Favorite Handyman, Asks $52.9 Million For Waterfront Florida Home. Self-described “preservationists” when it comes to real estate, Vila said they spent about a year renovating, but intentionally retained the flow and many original details. “Our goal was to keep it feeling very old Florida,” Barrett said. Read more at Mansion Global.

Things To Do In The Colony

Attractions
The Colony might be best known for Grandscape, but the city has plenty of other attractions that are worth exploring. For outdoor enthusiasts, Lewisville Lake is a major draw. The lake offers a wide range of activities, from boating and fishing to hiking and picnicking. Stewart Creek Park, located on the lake’s shore, is a popular spot for families and features a sandy beach, picnic areas, and a boat ramp.

Another must-visit destination is The Colony Five Star Complex, a premier sports facility that hosts a variety of sporting events, including soccer, baseball, and softball tournaments. The complex also features walking trails, playgrounds, and picnic areas, making it a great place for a family day out.

World Springs is an outdoor mineral hot springs experience featuring the world’s greatest mineral waters. Explore 46 mineral hot springs with temperatures from the mid 80’s to the low 100’s, and refreshing cold plunges at 55 degrees Farenheit. With adults only and all=ages sections, outdoor mineral hot springs, Finnish saunas, and a restaurant and bar, this is worth visiting!

Local Secrets

But beyond the well-known attractions, The Colony has its share of hidden gems. It is named after thePeters’ colony. The Colony is on the site of theHedgcoxe Warof 1852, in which armed settlers raided and burned the office of the Texas Emigration and Land Company. The community was established as a housing development by Fox and Jacobs, Incorporated, on some 3,000 acres in 1973.

Did you know that The Colony was once home to a thriving agricultural community? The city’s history as a farming area is still evident in some of its older neighborhoods, where you can find charming farmhouses and remnants of the city’s rural past.

Cosm Dallas - Set to Open Aug 31 2024
Cosm Dallas - Set to Open Aug 31 2024