Richardson, TX

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As of the 2010 census, the city had a total population of 99,223. In 2011 the population was estimated to be 107,684. Richardson is an affluent inner suburb of Dallas and home of The University of Texas at Dallas and the Telecom Corridor with a high concentration of telecommunications companies. More than 5,000 businesses have operations within Richardson’s 28 square miles (73 km2), including many of the world’s largest telecommunications/networking companies: AT&T, Ericsson, Verizon, Cisco Systems, Samsung, MetroPCS, Texas Instruments,TriQuint Semiconductor, and Fujitsu.

UT Dallas Student Services Building – A LEED Platinum Building

In 2006, Richardson was ranked as the 15th best place to live in the United States by Money magazine. This ranked Richardson the 3rd best place to live in Texas. In 2007, the Morgan Quitno 14th Annual America’s Safest and Most Dangerous Cities Awards pronounced Richardson the 69th safest city in America. In the same study Richardson ranked the 5th safest city in Texas. In 2008, Richardson was ranked as the 18th best place to live in the United States by Money magazine. This ranked Richardson the 4th best place to live in Texas. In 2009, Business Week’s annual report on the “Best Places to Raise Kids,” ranked Richardson 2nd in Texas. Richardson was the first North Texas city recognized as a best workplace for commuters by the United States Environmental Protection Agency and the United States Department of Transportation in 2004. As of 2010 the city has continued to be recognized every year since 2004. In 2011 the Texas Recreation and Park Society awarded Richardson with the Texas Gold Medal for excellence in the field of recreation and park management.

History

Settlers from Kentucky and Tennessee came to the Richardson area in the 1840s. Through the 1850s the settlement was located around the present-day site of Richland College. After the Civil War a railroad was built northwest of the original settlement, shifting the village’s center closer to the railroad. Richardson was chartered in 1873, and the town was named after railroad contractor E.H. Richardson. In 1908, the Texas Electric Railway an electric railway know as the Interurban, connected Richardson to Denison, Waco,Corsicana and Fort Worth. In 1910 the population was approximately 600. A red brick schoolhouse was built in 1914. The schoolhouse is now the administrative office for the Richardson Independent School District. In 1924 the Red Brick Road, the present-day Greenville Avenue, was completed. The completion of the road brought increased traffic, population and property values. The town incorporated and elected a mayor in 1925. In 1940 the population was approximately 740.

After World War II the city experienced major increases in population, which stood at approximately 1,300 by 1950. Throughout the 1950s the city continued to see growth including the opening of the Collins Radio Richardson office, the Central Expressway, a police department, shopping centers and many homes. Texas Instruments opened its offices in Dallas on the southern border of Richardson in 1956. This was followed by significant gains in land values, population and economic status. In the 1960s Richardson experienced additional growth including several new parks, facilities and the creation of the University of Texas at Dallas within the city limits. By 1972 the population was approximately 56,000. Residential growth continued through the 1970s and slowed in the 1980s. Commercial development increased throughout the 1980s. Richardson had a population of 74,840 according to the 1990 census. Population increases throughout the 1990s was primarily from development of the northeast part of the city. The city of Buckingham, after being completely surrounded by Richardson, was annexed into the city in 1996.

Richardson had a population of 91,802 as of the 2000 census. By 2002 Richardson had four Dallas Area Rapid Transit (DART) light railstations and had built the Eisemann Center for Performing Arts and Corporate Presentations and the adjacent Galatyn Park urban center, which has a two-acre public pedestrian plaza, a luxury hotel and mixed-use development. Richardson was a “dry city” with no alcohol sales until November 2006, when the local option election passed to allow the sale of beer and wine in grocery and convenience stores. Richardson received local media attention for removing its rocket slide, space age and Cold War-era playground equipment from Heights Park in July 2008. In the fall of 2008 Peter Perfect, a Style Network television show, came to Richardson. The business-makeover show remodeled SpiritWear, an apparel and embroidery store in the city’s historic downtown area. The episode first aired on January 22, 2009. It was the first episode of the series to be filmed outside of California. In an April 2009 interview, Mike Judge said that he modeled Arlen, the setting for King of the Hill, after Richardson.

Geography

The cities of Dallas and Plano border most of Richardson with a few exceptions. The Lake Highlands area of northeast Dallas borders Richardson to the south, North Dallas is to the southwest, Far North Dallas is to the west, West Plano is to the northwest, East Plano is to the north, the city of Murphy is to the northeast, Sachse is to the east, and Garland is to the southeast.

Richardson is located at 32°57′56″N 96°42′57″W.

According to the United States Census Bureau, the city has a total area of 28.6 square miles (74.2 km2), of which 28.6 square miles (74.0 km2) is land and 0.08 square miles (0.2 km2), or 0.32%, is water.

Approximately two-thirds of the city is in Dallas County, with the northern third of the city in Collin County. Of the 28.6 square miles (74.2 km2) contained within the borders of the city of Richardson, 18.2 square miles (47 km2) lie in Dallas County; the other 9.2 square miles (24 km2) are in Collin County.

Economy and development

Despite declining economies in other parts of the United States, from 2005 through 2009 Richardson has had substantial increases in its economy. The city’s total assessed property value went up from $8.3 billion in 2005 to $9.5 billion 2008. Sales tax collection went up from $21 million in 2005 to an estimated $24.7 million in 2008. The city has also achieved a considerable amount of corporate recruitment and retention. Including the new Blue Cross Blue Shield development, the largest Dallas–Fort Worth Metroplex office campus development since 1987 is a 15-story, 1,000,000-square-foot (93,000 m2) regional headquarters, where 3,100 employees work. Other major corporate expansions or relocations include Bank of America Financial Services, MetroPCS (corporate HQ), Yahoo, Fujitsu Transaction Solutions, and Halff Associates.

The city has experienced a surge of mixed-use development, suburban infill and transit-oriented development, predominantly on the city’s eastern side. The Venue is a 4-acre (16,000 m2) mixed-use development adjacent to Galatyn Park, a DART rail station. Eastside, a mixed-use, infill development, is at the midpoint of two rail stations, Araphaho Centerand Galatyn Park. Eastside is located on the southeast corner of Campbell Road and US 75. It features 450 apartments by Post Properties, 90,000 square feet (8,400 m2) of retail and restaurant space and 35,000 square feet (3,300 m2) of office space in addition to an 11-story class A office building that was pre-existing on the development site. Eastside Phase II will include 12 acres (49,000 m2) of office and mixed-use development. Brick Row, a $200 million mixed-use development, is located on the northwest corner of Spring Valley Road and Greenville Avenue, less than half of a mile east of US 75. Brick Row borders the Spring Valley Station and will have at completion 500 upscale apartments, 150 townhomes and up to 300 condominiums surrounding the historic natural McKamie Springs. The Shire is a mixed-use center of 6.5 acres (26,000 m2). Phase II is an additional 10 acres (40,000 m2). The former Richardson Square Mall has been redeveloped into an outdoor retail center. Other retail centers have been re-developed or remodeled including Buckingham Plaza, Buckingham Square, Dal-Rich Village, Richardson Village, II Creeks, Richardson Heights and Richardson Village.

This city has won many economic awards, including DBJ’s 2006 “Best Real Estate Deal of the Year”, International Economic Development Council’s 2006 “Technology-Based Economic Development Award”, and Texas Economic Development Council’s 2007 “Texas Economic Excellence Award”.

Since 2008, both Standard & Poor’s and Moody’s have upgraded Richardson’s credit rating to “AAA” from the previous rating of “AA+”. At the time, Richardson was one of only four cities in the state of Texas and one of 88 cities in the nation with an “AAA” rating from Standard & Poor’s. Richardson is the metropolitan statistical area’s second largest employment center with daytime population increasing to more than 140,000. The economy remains rooted in the telecommunications industry. However, Richardson’s property tax base is deep and extends beyond its Telecom Corridor area with other sectors including health care, technology, and finance. The City’s per capita sales are 200 percent of the national average as well as the second highest sales tax per capita in the Dallas–Fort Worth metroplex. The tax base is very diverse with the 10 leading taxpayers accounting for 10 percent of total assessed value.

Late-2000s recession

In the overall economic downturn or the late-2000s recession, Richardson has not been affected as adversely as other cities in the nation, Texas or even the North Texas region. In June 2010 both Moody’s and Standard and Poor’s bond rating agencies reaffirmed the city’s “AAA” rating, the highest assigned by either agency. Of the cities that maintain bond ratings, Richardson is in the top 3.1% in the state and the top 6.8% nationally. Always a technology-centric city, Richardson has fully recovered from the tech downturn of 2001-2003. The city has diversified its business base with financial service firms and has adopted a live-work-play approach to future mixed-use and transit-oriented developments. As of early 2011 local unemployment was still high by historical standards at just over 7%, but lower than the state and federal unemployment levels. This is down from the unemployment rate of 8.4% in August 2010 according to figures collected by the NCTCOG

Corporate headquarters

MetroPCS, Fossil, Lennox International, Vent-A-Hood, Wingstop Restaurants VCE have their corporate headquarters in Richardson.

Major employers

According to the Richardson Economic Development Partnership’s listing on Major Employers (last updated December 2011), the top employers in the city are:

# Employer # of Employees
1 AT&T Inc. 4,300
2 Bank of America 3,300
3 Blue Cross and Blue Shield of Texas 3,100
4 The University of Texas at Dallas 2,830
5 Ericsson 2,500
6 Richardson Independent School District 2,500
7 Verizon Business 2,250
8 Fujitsu 1,500
9 Rockwell Collins 1,200
10 Cisco Systems 1,200
11 United Healthcare 1,100
12 Fossil, Inc. 1,100
13 Lennox International 1,000

Demographics

As of the census of 2000, there were 91,802 people, 35,191 households, and 24,774 families residing in the city. The population density was 3,213.9 people per square mile (1,241.1/km2). There were 36,530 housing units at an average density of 1,278.9 per square mile (493.8/km2). The racial makeup of the city was 75.39% White, 11.67% Asian, 6.18% African American, 0.45% Native American, 0.06% Pacific Islander, 3.65% from other races, and 2.60% from two or more races. Hispanic or Latino of any race were 10.26% of the population.

There were 35,191 households out of which 33.7% had children under the age of 18 living with them, 58.1% were married couples living together, 8.9% had a female householder with no husband present, and 29.6% were non-families. 22.9% of all households were made up of individuals and 5.5% had someone living alone who was 65 years of age or older. The average household size was 2.59 and the average family size was 3.07.

In the city the population was spread out with 24.8% under the age of 18, 8.7% from 18 to 24, 32.7% from 25 to 44, 23.9% from 45 to 64, and 10.0% who were 65 years of age or older. The median age was 36 years. For every 100 females there were 97.6 males. For every 100 females age 18 and over, there were 95.2 males.

In the 2000 census males had a median income of $52,381 versus $35,255 for females. The per capita income for the city was $29,551. About 3.3% of families and 6.3% of the population were below the poverty line, including 6.4% of those under age 18 and 3.4% of those age 65 or over.

According to a 2008 estimate, the median income for a family in Richardson was $90,790 and a median home price of $195,510.

[schoolsearch city=”Richardson” state=”TX” groupby=”gradelevel” output=”table”]

Richardson median sales prices