Wells is named for William Henry Lafayette Wells (1840-1939), a Virginia-born farmer and musician who came to Texas in 1871 after serving in the Civil War. Three years later, he and his brother bought the homeplace that is still in the Wells family. A mainstay of the Plano Old Settlers Picnic Association, Wells died at the age of 98. His grandson served on the Plano ISD board from 1952-58.
Wells Elementary School opened in 1978 at a cost of $1.2 million.