The Colony combines two things rarely found together: miles of lakeshore and one of the region’s largest entertainment developments. Here is what life there looks like.
Life on Lewisville Lake
The city has about 23 miles of Lewisville Lake shoreline. Stewart Creek Park and Hidden Cove Park provide public access to the lake. Homes near the shore can offer lake views; ask about flood zones and access rules.
Grandscape
Grandscape is a 433-acre shopping, dining, and entertainment district anchored by Nebraska Furniture Mart, along SH 121. It draws visitors from across the region, so expect busier traffic near it on weekends.
Homes
The Colony grew quickly after incorporating in 1977, so much of its housing is established single-family homes, with newer homes and apartments near Grandscape and SH 121.
Schools and commuting
The city is served by Lewisville ISD and Little Elm ISD. Commuters use SH 121 to reach the Dallas North Tollway, Plano, and DFW Airport. The Colony isn’t a DART city.
The Colony housing market: what the numbers say
Typical home value, August 2026: $399,293, down 2.8% from $410,834 in August 2025.
The Colony’s typical value declined over the year to August 2026 in this dataset. Lake proximity and home age are major factors in price.
Questions to ask before you buy, sell, or rent in The Colony
- Is this home in Lewisville ISD or Little Elm ISD?
- Is the property in a flood zone, and what lake-access rules apply?
- How does Grandscape traffic affect the commute?
- For sellers: which recent sales are comparable in age and lake proximity?
- For renters: what are the parking and pet rules?
Keep exploring
See the The Colony community page for a quick overview, or compare nearby Lewisville, Plano and Carrollton. When you’re ready, our home buying guide, home selling guide, and rental guide walk through each step, or talk with a Clever Realtors agent.
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