Page 91 - Southlake FY24 Budget

Commercial Growth in Southlake Footage

ANNUAL SQ.FT. ADDED CUMULATIVE COMMERCIAL SQ.FT.
20,000,000

18,000,000
17,589,163

16,000,000 City Profile
14,000,000

AREA IN SQ.FT. 12,000,000

10,000,000

8,000,000

6,000,000

4,000,000

2,000,000
455,261
0

FISCAL YEAR

Source: Southlake Planning & Development Services

This chart shows that although annual growth rates related to commercial square footage added can
be impacted by economic conditions, such as the “Great Recession,” Southlake’s commercial property
base has grown annually since 1998. Increases in these numbers over time are beneficial for the City, as a
greater amount of commercial square footage leads to increases in the tax base. As the City approaches
build out, we expect to continue to see these numbers slow.

Annual Sq. Ft. Cumulative Sq. Annual Sq. Ft. Cumulative Sq.
Fiscal Year Fiscal Year
Added Ft. Added Added Ft. Added
1998 744,686 3,919,658 2011 73,629 10,400,418
1999 198,233 4,117,891 2012 578,782 10,400,418
2000 1,471,583 5,589,474 2013 180,387 11,159,587
2001 419,752 6,009,226 2014 630,277 11,789,864
2002 336,385 6,345,611 2015 1,313,861 13,103,725
2003 185,324 6,530,935 2016 1,763,654 14,867,379
2004 318,944 6,849,879 2017 376,682 15,244,061
2005 1,102,921 7,952,800 2018 358,899 15,602,960
2006 721,500 8,674,300 2019 766,803 16,369,763
2007 516,744 9,191,044 2020 249,274 16,619,037
2008 335,135 9,526,179 2021 217,645 16,836,682
2009 455,984 9,982,163 2022 297,220 17,133,902
2010 344,626 10,326,789 2023 (through Q3) 455,261 17,589,163

FY 2024 City of Southlake | Budget Book 91