[8] The cemetery gates stand closed to the public except during certain dates when it is open to visitors by the local history committee.

[9] The Colony did not exist before 1973, when home developers Fox and Jacobs (which became part of Centex) purchased 3,000 acres (1,200 ha) located around State Highway 121 and Farm to Market Road 423.

[10] The name "The Colony" was chosen by Fox and Jacobs because they wanted its new development to share a sense of kinship with Texas' early history and "to create a living monument to the spirit and courage of the Peters Colonists ... those men and women who braved considerable hardships to begin new lives, in new homes, on new land.

In 1977, the homeowners associations' petition to disannex the development from the city of Frisco's extraterritorial jurisdiction was approved.

Board applications are available on The Colony's website or at City Hall and a list of currently vacant positions can be found on the site as well.

During a December 2020 meeting of the LISD Board, several changes were made, including rezoning the area and a closure of one of the elementary schools.

Effective the end of the 2020–2021 school year, the LISD board voted to close Stewart's Creek Elementary.

Owen Elementary's influential coach and teacher, and supporter of the annual Kids Chase by the Lake [61]), and Josey Lane (The street the school is on).

[citation needed] In May 2009, Griffin Middle School student and The Colony resident Eric Yang won the National Geographic Bee, beating out 54 other state competition champions to win a scholarship and travel package valued at more than $25,000.

The Colony High School is located just north of Texas State Highway 121 on Blair Oaks Drive.