City of Rockwall

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City of Rockwall

Posted by dfwfirstrealty on December 16, 2019

The City of Rockwall is the county seat of Rockwall County, once heralded as the wealthiest county in Texas by income per capita, and some still claim this to be true. Current population is estimated around 45,000, up from the 37,000 estimate in the 2010 US Census. Rockwall is located about 20 miles east-northeast of Dallas and sits along the eastern shore of Lake Ray Hubbard. Primary access to the city from Dallas is achieved via Interstate 30.

Right along this eastern edge of the lake and just south of Interstate 30 is a large mixed use development known as The Harbor, which was built in 2005. Here you will find some office space, retail space, restaurants, a movie theater, and an outdoor amphitheater used often by the City of Rockwall to host free concerts in the summer.

There is some debate among real estate and economic experts regarding the validity and/or appropriateness of the Harbor development. Since it was constructed, the venue has been through several rounds of bankruptcy and foreclosure and has had a tough time keeping tenants in the development. With the dredging of the Lake Ray Hubbard shoreline during construction, the property may have been overimproved, creating debt service costs that are more than the market can bear. In layman’s terms, the tenants can not afford to pay the rental rates over the long term that the landlord/management has been seeking.

Despite being the smallest county in Texas, Rockwall County has also been one of the fastest growing. Retail development along with residential have been moving at a breakneck pace in recent years. Many residents that grew up in the area and left for college not more than 10 years ago are shocked to see all the construction changes since they last visited their old hometown.

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