FRISCO, Texas — There is a cause-and-effect relationship to just about everything. What may be happening in the growing city of Frisco is no different.
Wednesday's announcement of a possible Universal Studios theme park in Frisco has some major implications on a local economy that's already humming.
"This is a good asset, this is a well known brand," said Cliff Freeman of Cliff Freeman Group. Freeman has been in real estate for 37 years back when Frisco was a pass-through town and a 'dot on a map.'
Frisco has been billed over the last 10 years as the 'fastest-growing' and every other accolade you can name. A theme park could be a boost to an already hot housing market here.
Cliff Freeman says if dreams of a Universal Studios park are finally realized, it could be a real opportunity for the North Texas city.
"I really think this will be the number-one area for young families in the country to go to," said Freeman.
Haiyan Li lives in the Cobb Hill neighborhood and bought her house nearby the Fields development 11 years ago for under $300 thousand. Now, it's almost double that without the help of a theme park.
"It's very good for the economy, the city. It will bring a lot of business," Li said. "With the studios open, yes, I will believe that. We are actually looking forward to that," she said, as to whether she felt her house value would go up even further.
The average sale price of a home in Frisco was $721 thousand, up 11.7% since last year according to Redfin, a real estate brokerage. Cliff Freeman anticipates the park will be a plus on home values and a plus for the local economy. But it also comes with legitimate concerns about traffic and noise brought on by neighbors right next door to the proposed park.
"It's not going to make everybody happy. Steve Jobs said if you want to please everybody, then sell ice cream," laughed Freeman.