TOWN OF NORTHLAKE
Northlake is located 17 miles west of DFW International Airport and three miles north of Alliance Airport between the cities of Fort Worth and Denton along IH 35W.
Build-out Population: 55,000
% Built-out: 20%
New Home Prices: Upper $200’s-$1 million
Average Household Income: $87,785
Low Tax Rate: $0.295 property tax rate.
Trails and Open Space: Miles of trails planned within parks and open spaces to cover more than 20% of the town’s land area.
Growth: Averaged 20% year over year growth over the last three years with similar growth rate expected over the next several years.
900+ new home starts projected in 2020
4.3 million sf of industrial space currently occupied with 1.7 million more under construction
Office, retail, restaurant, and hospitality development growing rapidly. 60,000 sf of commercial lease space completed in past two years with another 50,000+ planned in the next year. A 98-room hotel is currently under construction with three more hotels planned, which will bring the total number of hotel rooms in Northlake to more than 650.
Northlake’s wide-open spaces and prime location in the direct path of growth offer abundant opportunities. At the center of a retail trade area with a population projected to grow to more than 60,000 within five years, Northlake benefits from excellent highway access and close proximity to both DFW and Alliance Airports. Northlake is committed to attracting new businesses and quality development through aggressive incentive programs – including sales tax reimbursements to attract restaurants, retail businesses and fulfillment cetners, and tax abatements for companies with high-value business personal property.
Northlake has become a boomtown due to its prime location, low tax rate, and excellent quality of life, attracting new residents to its wide variety of living environments from luxury apartments to multi-acre ranches and estate homes. In order to keep up with the demand, some of the region’s largest master-planned developments have been developed in Northlake: Harvest, Canyon Falls, Pecan Square, and The Ridge at Northlake. These developments will add nearly 10,000 homes to the market over the next decade. Yet approximately 80% of Northlake’s ultimate land area remains undeveloped with plans to preserve more than half the land area as open space, 1+ acre lots and multi-acre ranches.
Northlake’s vision as outlined in its comprehensive plan is to be a town that honors its rural legacy while attracting a multi-generational, family oriented and highly engaged population through policies that promote responsible growth, self-reliance and a diversified tax base. The Town’s leaders continue to build on this vision to create a thriving community with a healthy environment for both residents and commercial enterprises.
Town Website town.northlake.tx.us
Economic Development town.northlake.tx.us/238/Economic-Development