Page 93 - Colleyville FY21 Budget

5-Year + Outlook
Development activity is expected to remain robust. New commercial and residential
construction has remained relatively consistent coming out of the last recession with
an average of 7 new commercial permits per year and an average of 134 new
residential permits per year, both being the average of the previous 10 years. In
fiscal year 2015, new commercial permits rose to a total of 12. In fiscal year 2016,
new commercial permits totaled 9. In fiscal year 2017, new commercial permits
totaled 1 and new residential permits totaled 137. In 2018, new commercial permits
totaled 3 and new residential permits totaled 169. In 2019, new commercial permits
totaled 11 and new residential permits totaled 116. In 2020, new commercial permits
totaled 6 and new residential permits totaled 82. With one new subdivision opened
in 2020 and 2 more expected to open in 2021, several residential lots will still be
available, thus residential permitting activities are expected to remain consistent.
New commercial activity is expected to remain consistent as well now that Colleyville
Boulevard construction has been completed.

As the City approaches build out, currently estimated to occur by 2035 according to
the current Master Plan estimate, new residential activity has begun to decrease.
Assuming current economic conditions remain static, land for new residential
subdivisions will significantly decrease, leaving only infill and tear down & rebuild
projects to build out. Commercial activity will be more difficult to predict. However,
given that there remains limited undeveloped commercial land in the City, in addition
to numerous redevelopment opportunities for existing legacy properties, commercial,
as well as institutional, development opportunities should continue to avail
themselves over the next five years and beyond. The reconstruction of Colleyville
Boulevard (State Highway 26) is at completion which will attract commercial
development and redevelopment.

Overall, the department will remain very busy over the next five years and is in need
of staffing at a level commensurate with community and organizational expectations
to be able to adequately fulfill its mission to protect, preserve and promote the
exceptional and unique quality of the community’s built environment and natural
resources.

91