BY SHELBIE HAMILTON
McKinney hits nearly $1.5 billion in value of new construction projects The total construction value of all projects completed in McKinney in 2023 was nearly $1.5 billion, according to a presentation at a Feb. 27 council meeting. The value is the highest in city history and beats the previous record high value, which was set in 2022, Executive Director of Development Services Michael Quint said at the meeting. Diving deeper Of that total construction value, about $485 million was derived from nonresidential construc- tion. This value is about $200 million less than the nonresidential value constructed in 2022, Quint said, noting that a single $216 million Raytheon expansion project inflated the nonresidential construction values measured in that year.
Construction value of all completed projects
MCKINNEY RANCH PKWY.
PROPOSED MULTIFAMILY DEVELOPMENT
121
$2B
PROPOSED COMMUNITY RECREATION SPACE
$1.5B
N
$1B
Multifamily project receives support The McKinney Planning and Zoning Commission recommended approval of a rezoning request for a roughly 18-acre development at a Feb. 27 meeting. The gist The proposed project would include up to 350 multifamily units, according to a presentation. The developer proposed that the southern end of the site be converted into a public community recreation area.
$500M
$0
2019 2020 2021 2022 2023
SOURCE: CITY OF MCKINNEY/COMMUNITY IMPACT
Single-family residential projects accounted for over $495 million of the total construction value in 2023, with over 1,500 new permits issued. Multi- family residential construction accounted for the remaining roughly $491 million and represents the value of over 3,100 new dwelling units. “McKinney continues to grow [and] continues to be a thriving economy,” Quint said.
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MCKINNEY EDITION
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