Quarterly Northwest Report Independent School 2Q16 District Learn from Yesterday… Understand Today… Plan for Tomorrow
Economic Conditions – DFW Area (June 2016) 3.2% 29,562 108,700 new jobs Unemployment 5,565 more National rate 1.7% than 2Q15 Rate Annualized U.S. 5.1% Job Growth Texas 4.8% Home Starts DFW MSA 4.0% Fort Worth 4.2% -0.3% Sources: Texas Workforce Commission & Metrostudy 2
NISD Home Sales 2015 Home Sales by Transaction Type Northwest ISD 2015 Home Sales by Type New Home Sale, 1,062, 25.84% Foreclosure, 176, 4.28% REO Sale, 189, Regular Resale, 4.60% 2,683, 65.28% • The district had 4,110 home sales in 2015, and roughly 25% were of new homes • The average sale price in 2015 for a new home was $309,916, a rise of 6.1% over 2014 • The average sale price in 2015 for an existing home was $288,073 3
DFW New Home Ranking Report ISD Ranked by Annual Closings – 2Q16 Rank District Name Annual Starts Annual Closings VDL Future 1 Frisco ISD 2,892 2,723 3,843 7,678 2 Denton ISD 2,123 1,881 2,410 17,068 3 Prosper ISD 2,201 1,627 4,336 28,370 4 Lewisville ISD 1,392 1,236 2,037 2,949 5 Northwest ISD 1,307 1,212 2,329 25,357* 6 Dallas ISD 1,376 1,113 2,261 6,224 7 Little Elm ISD 1,274 1,037 928 5,005 8 Keller ISD 856 954 1,014 2,035 9 Eagle Mt. ‐ Saginaw ISD 899 909 990 19,624 10 Rockwall ISD 918 716 1,840 8,347 11 Mansfield ISD 726 633 1,005 5,339 12 Wylie ISD 737 608 911 4,784 13 Crowley ISD 716 579 817 8,986 14 McKinney ISD 743 566 1,700 5,859 15 Forney ISD 531 497 977 14,655 16 Allen ISD 559 489 1,224 1,440 17 Burleson ISD 481 486 482 3,349 18 Plano ISD 492 456 1,209 2,529 19 HEB ISD 448 452 395 4,866 20 Midlothian ISD 550 413 1,154 20,692 *Adjusted based on additional research by Templeton Demographics staff 4
New Housing Activity Northwest ISD 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 Annual Starts Annual Closings Avg. Inventory Starts 2010 2011 2012 2013 2014 2015 2016 Closings 2010 2011 2012 2013 2014 2015 2016 1Q 297 230 251 288 357 230 303 1Q 229 224 220 225 269 287 277 2Q 357 268 293 362 282 309 315 2Q 349 230 331 318 341 263 340 3Q 264 285 286 347 350 377 3Q 348 263 332 299 347 282 4Q 204 254 257 270 239 312 4Q 277 295 258 344 273 313 Total 1,122 1,037 1,087 1,267 1,228 1,228 618 Total 1,203 1,012 1,141 1,186 1,230 1,145 617 • Second quarter new home starts reached 315 units for the first time since 2013 • Second quarter new home closings jumped 77 units over 2Q15, a rise of nearly 30% • Inventory remains in a excellent position to sustain the current closing rates 5
Annual Closing Distribution 2Q16 Annual Elementary Zone Closings BECK 192 CLARA LOVE 0 COX 137 GRANGER 46 HASLET 99 HATFIELD 7 HUGHES 47 JUSTIN 165 LAKEVIEW 7 NANCE 46 PETERSON 41 PRAIRIE VIEW 4 ROANOKE 138 SCHLUTER 183 SENDERA RANCH 3 SEVEN HILLS 7 THOMPSON 90 Grand Total 1,212 6
Vacant Developed Lots 2Q16 Elementary Zone Vacant Dev. Lots BECK 80 CLARA LOVE 0 COX 451 GRANGER 0 HASLET 245 HATFIELD 1 HUGHES 120 JUSTIN 243 LAKEVIEW 5 NANCE 492 PETERSON 75 PRAIRIE VIEW 21 ROANOKE 329 SCHLUTER 19 SENDERA RANCH 80 SEVEN HILLS 37 THOMPSON 131 Grand Total 2,329 7
Future Lots 2Q16 Future Elementary Zone Lots BECK 102 CLARA LOVE 321 COX 562 GRANGER 0 HASLET 2,275 HATFIELD 5,730 HUGHES 29 JUSTIN 2,814 LAKEVIEW 337 NANCE 1,324 PETERSON 23 PRAIRIE VIEW 786 ROANOKE 623 SCHLUTER 3,564 SENDERA RANCH 3,415 SEVEN HILLS 708 THOMPSON 2,744 Grand Total 25,357 8
District Housing Overview • Northwest ISD had more than 1,300 annual starts • The district has 2,330 lots available to build on • NISD has groundwork underway on more than 1,500 lots 9
Active Subdivision Berkshire • 750 total lots Berkshire– City of Fort Worth • 20 under construction • 276 VDL HWY 156 S • Building approx. 80 homes in 2016 and 200 homes in 2017 • First residents expected fall 2016 • $275K-$350K • 15 lots fall in Eagle Mountain-Saginaw ISD SCHLUTER • Nance Elementary 6 5 1 D R M HASLET F £ ¤ 81 NANCE NANCE ELEMENTARY ^ _ £ ¤ 287 D R D N U O M E U L B Eagle Mountain- Saginaw ISD 10
Active Subdivision Harmon Ranch – City of Ft. Worth S 6 5 1 Y W H PETERSON ELEMENTARY F M RD 156 § ¦ ¨ _ ^ 35W Harmon Ranch • 902 total lots • 210 future lots HASLET • 447 homes occupied • 35 homes under construction • 195 vacant developed lots • Building ~80 homes a year • Approximately 22 lots fall within Eagle Mountain-Saginaw ISD • Haslet Elementary PETERSON £ ¤ 81 BLUE MOUND RD NANCE 11 Eagle Mountain-Saginaw ISD
Active Subdivision Sendera Ranch – City of Ft. Worth M Sendera Ranch North F HATFIELD 2,400 future lots 6 5 1 SENDERA RANCH RD M F PRAIRIE VIEW Sendera Ranch • 9,030 total lots • Sendera Ranch Elementary • 4,599 total lots THOMPSON ELEMENTARY • 3,415 future lots WILSON MIDDLE ^ _ • 1,100 homes occupied ^ _ • 0 homes under construction • 80 vacant developed lots THOMPSON SENDERA • Thompson Elementary RANCH ELEMENTARY • 4,431 total lots ^ _ • 2,744 future lots N • 1,538 homes occupied 6 15 • 7 homes under construction Y W • 131 vacant developed lots H • 2,400 future lots in Sendera Ranch North • Developer anticipates first homes on the ground in 2017 • Developer estimates delivering HASLET 400-600 lots per year through 2022 ELEMENTARY • Building 80-100 homes a year ^ _ HASLET H W £ ¤ Y 287 156 S ¤ £ 81 12 SCHLUTER
Active Subdivision Canyon Falls § ¨ ¦ 35W JUSTIN Canyon Falls • 725 total lots in NISD • 279 future lots • 79 homes occupied • 50 homes under construction £ FM 1 ¤ 1 7 377 1 • 303 vacant developed lots • Building 120 homes a year • $265K - $500K CROSS TIMBERS RD • Split between Argyle ISD and NISD • Roanoke Elementary ROANOKE Argyle ISD HATFIELD § 13 ¨ ¦ 35W
Active Development Fairway Ranch Fairway Ranch • 500 total lots • 248 futures • 98 occupied • 31 under construction ¬ « • 112 VDL 114 • Groundwork underway on 112 lots, delivering fall 2016 • Building 60-70 homes a year • Cox Elementary COX COX ELEMENTARY _ ^ ROANOKE £ ¤ 377 STEELE ACCELERATED HIGH _ ^ 14
Active Development Seventeen Lakes ¬ « ROANOKE 114 COX Seventeen Lakes COX ELEMENTARY ^ _ • 752 total lots • 227 futures • 258 occupied • 9 under construction • 252 VDL • 211 lots delivered summer 2016 • First closings in new section anticipated in October • Building 60-80 in 2017 • Cox Elementary ROANOKE HUGHES 15
Active Development Water’s Bend North and Trails of Fossil Creek F M RD 156 SCHLUTER Trails of Fossil Creek • 1,039 total lots Water’s Bend North • 360 future lots HASLET • 447 homes occupied • 386 future lots • 30 homes under construction • Groundwork underway on 14 lots • 200 VDL delivering September 2016 • Nance Elementary • Future phase with 79 lots starting groundwork delivering early 2017 • Building 50 homes a year • Nance Elementary £ ¤ 81 NANCE NANCE ELEMENTARY _ ^ £ ¤ 287 BLUE MOUND RD 16
Future Development Highlands and Avalon at Argyle § ¦ ¨ 35W F M 4 0 7 JUSTIN Avalon at Argyle The Highlands • 334 future lots • Preliminary plat under review • 231 total lots with the City of Argyle • Phase 1 with 65 lots • Roanoke Elementary delivered early 2016 • 4 homes under construction • Custom home building • $400K-$600K • Justin Elementary ROANOKE § ¦ ¨ 35W FM 1 1 17 71
Future Development NorthGlen and Caraway NorthGlen § ¦ ¨ 35W • 179 future lots • Approved PUD on site • Final plat under review with the city of Haslet with 104 lots • Groundwork likely starting early 2017 • Haslet Elementary Caraway • 360 future lots HASLET • 200 acres being rezoned for HWY 156 S single family development • Currently in early planning stages • Haslet Elementary HUGHES 6 5 1 D R M F PETERSON ELEMENTARY § ¨ ¦ ^ _ 35W PETERSON SCHLUTER £ ¤ 18 287
Future Development Tradition and McKelvey Ranch Tradition • 2,984 future single family lots CLARA LOVE • 300 future MF units ELEMENTARY • Groundwork starting mid to late 2017 ^ _ CLARA LOVE • Hatfield Elementary ¬ « 114 HATFIELD _ ^ ELEMENTARY HATFIELD PIKE MIDDLE NORTHWEST HIGH _ ^ ^ _ McKelvey Ranch • 1,100 future single family lots • Submitting first plats fall 2016 • Groundwork starting mid to late 2017 156 M F • Homebuilding starting early 2019 • Hatfield Elementary F M RD 156 19
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