Analysts Rank Katy Number 1 For Retail Growth Potential

[editor]

A company called the Gadbury Group, which advises retailers where to open new stores, has ranked Katy #1 in the nation.

1. Katy, Texas (Houston suburb)
   
2. Haslet, Texas (Fort Worth suburb)
   
3. Keller, Texas (Fort Worth suburb)
   
4. Queen Creek, Arizona (Phoenix suburb)
   
5. Lehigh Acres, Florida (Fort Myers suburb)
   
6. Frisco, Texas (Dallas suburb)
   
7. Casa Grande, Arizona (Phoenix suburb)
   
8. South Jordan, Utah (Salt Lake City suburb)
   
9. Lincoln, California (Sacramento suburb)
   
10. Cary, North Carolina (Raleigh suburb)
    

Katy was one of the top 25 candidates in 2008, took the number-five position on the 9 from 2009 list, and occupies the number-one position on the 2010 list. This suburb of Houston added 17,641 households since 2000, increasing 8.7% from 2009 to 2010. Overall, Katy was the fourth fastest growing area of the ten since 2000, with a 267.0% growth rate. The Cinco Ranch development continues to contribute new households to Katy’s growth.

Katy’s average household income grew over 21% since 2000 to end the decade at $85,810. Average household net worth for 2010 was $250,498, while average length of residence was 4.7 years. Katy continues to be very diverse ethnically. Asians increased over 3,000% to 1,935 households, representing 8% of the total current households. The two largest Asian groups are Chinese with 2.89% of all households and Indian with 2.59%.

The oil industry draws some of the area’s largest employers, including companies such as Exxon, BP & Conoco. The rebound in oil prices has undoubtedly helped the growth of this community and Texas as a whole.

You can read the full press release here: http://www.gadberry.net/GG%2010from2010.cfm

[kdog08]

Why is Ft Worth growing so much?

[Trae]

Haslet, Texas? There is nothing in Haslet. I can see Keller though. As far as Katy goes, there is definitely a lot of potential retail growth, especially when the Grand Parkway is finished. The mall at the I-10 at 99 intersection should be open by then.

[Houston?]

What mall?

[asubrt]

There were plans for a Simon mall at the northeast corner of I-10 and 99. Now it's changed into something called "The Grand", which is going to incorporate the existing JC Penny, Cinemark, Red Robin, and La Madeline. Who knows if anything will come of it, but at least there are a few things popping up there every once in awhile.

http://www.page-partners.com/flyers/theGrand/TheGrand.pdf

[Trae]

There were plans for a Simon mall at the northeast corner of I-10 and 99. Now it's changed into something called "The Grand", which is going to incorporate the existing JC Penny, Cinemark, Red Robin, and La Madeline. Who knows if anything will come of it, but at least there are a few things popping up there every once in awhile.

http://www.page-part...nd/TheGrand.pdf

The Grand is the actually mall in the middle of the ring road. The JC Penney and Cinemark is just the "lead in" into the mall (or lifestyle center...whatever they want to call it). Then, you have the Westside Marketplace from Mason Road over the 99. I think they are trying to make this area of Katy resemble the Stonebriar area of Frisco, Texas (North Dallas suburb). They should just make it another enclosed air-conditioned mall, because that lifestyle center stuff is getting old.

[Subdude]

Katy’s average household income grew over 21% since 2000 to end the decade at $85,810. Average household net worth for 2010 was $250,498

Anyone happen to know how these compare to the median values?