Development on the Circle T Ranch is expected to benefit not only Westlake, where the ranch is located, but also surrounding cities where leaders say they see positive economic impacts on the horizon.
“The vitality of the [State Highway] 114 corridor is something that Southlake and the City Council have been focused on for some time,” says Alison Ortowski, Southlake assistant city manager.
“In fact, in our most recent economic development master plan, we identify several goals related to the development of the corridor in Southlake, including the desire for additional corporate and regional office development.”
Ortowski says the current construction of TD Ameritrade’s regional site in Southlake is an example of Southlake’s vision coming to life.
“We believe we are well on our way to a vibrant, diversified corridor that encourages desired future growth,” she says, “and development in neighboring cities only contributes to the success of the region as a whole.”
Cody Petree, director of community & business development in Roanoke, says he expects many Schwab employees to consider Roanoke for housing and for its amenities, which include more than 50 restaurants, including the original Babe’s Chicken Dinner House and the popular Classic Café. The city is widening Parish Lane, which leads from Texas 170 into Roanoke, in anticipation of the coming growth, he says.
In Westlake, Town Manager Thomas Brymer says they expect Circle T projects will add to the city’s tax base over the course of time after tax abatements run their course. He says some additional executive-level housing likely will be built in town as a result of the Schwab campus.
“In respect to sales tax, I think it will have an impact on communities contiguous and near to Westlake as employees will be living all around the area, not just in Westlake,” he says. “We see (Schwab) as part of our comprehensive plan to attract an industry cluster, which in the case of Westlake, is turning out to be financial services with Fidelity and Deloitte already here, and now Schwab. Over in Southlake, right across the street from us, TD Ameritrade is building a big campus complex. We are getting a critical mass of financial services companies.”
Brymer says Westlake has been pleased with the quality of corporate citizens locating at the ranch, adding that, “Hillwood, to its credit, has been very selective on its development at the ranch. It’s been of the highest caliber.”