HSM PUTS PROPOSED MIXED-USE DEVELOPMENT SITES IN MCKINNEY ON THE MARKET
Henry S. Miller Brokerage’s Chris Burrow and Dillon Cook have been working on their official launch of one of the newest proposed mixed-use developments in DFW and one that could add to the continued growth within the City of McKinney. Burrow explains that, “we have been working very closely with the City of McKinney and our clients on The Village at McKinney and are very excited to bring this new development opportunity onto the market.” McKinney City Planner, Jennifer Arnold, labeled this particular site at US Highway 75 and Laud Howell Parkway as the focal point for new commercial development in McKinney’s Northwest Sector Study. Arnold explains that, “The City of McKinney recognizes the area around US 75 and Laud Howell Parkway as a prime location for a range of commercial opportunities in a mixed use environment. As one of the key gateways into the city’s northwest sector, transforming this area into a regional hotspot for entertainment, recreation and business will help anchor the next wave of growth and development in the city.”
The Village at McKinney is a proposed 76.2-acre development that Associate, Dillon Cook, believes will dramatically change the playing field as a new live/work/play destination for corporate relocations, hospitality, retail, and other commercial uses. “When you think of other mixed-use developments in DFW, you tend to picture Frisco’s $5 Billion mile, Richardson’s CityLine, and Dallas’ Mockingbird Station to name just a few. McKinney, on the other hand, still has that great small-town feel that provides a true community-friendly town within the long-established roots of McKinney.”
This proposed development in McKinney will be a true team-effort between a developer and the City of McKinney. Burrow explains that, “we are imagining this development to include a mix of retail, restaurant, office, hospitality, and multifamily projects.”
The Village at McKinney will be enhanced by the recently approved extension of Laud Howell Parkway, which will extend west from The Village at McKinney to FM 1461, connecting US Highway 75 to Dallas Parkway. “The extension of Laud Howell Parkway has been in negotiations between the City of McKinney and private land owners for nearly 10 years and is going to be a true game changer for this new development site, making it a true live/work/play environment,” Burrow explains. Construction is scheduled to begin in Fall of 2016 within an estimated completion by 2018.
With a double-digit increase in land sales from 2014 to 2015, land sales represent the strongest segment of the Texas real estate market. McKinney, ranked as “The #1 Best Place to Live in America” by Money Magazine continues to experience the highest growth rates in Texas with a community of excellent schools, parks, open spaces, affordable housing, and a vibrant historic downtown. With a diversified business environment and major corporate home to companies such as Raytheon, Wistron GreenTech, Torchmark, and Emerson Process Management, McKinney has led in sustainable development and its historic business district is one of the most successful in the state.
For more information on The Village at McKinney, please contact Chris Burrow or Dillon Cook with Henry S. Miller Brokerage, LLC for more details.