McKinney | December 2024

BY SHELBIE HAMILTON

What they’re saying

Looking ahead

Fuller said city leaders have been collaborating for over a year to bring this project to McKinney, noting that the city needs more Class A office space and restaurants, and is “woefully behind” in total number of hotel rooms given the amount of events and amenities in the city. The hotel stays generate hotel occupancy tax, and visitors also contribute sales taxes, which contribute to the city’s general fund and reduce the property tax burden for residents, Fuller said. Michael Kowski, president and CEO of the McKinney Economic Development Corporation, said the developers and the MEDC had a mutual interest in bringing office space to McKinney as part of the development. Kowski also noted that no residential uses were included in the plan for the project due to the existing density of residences in the area. The MEDC-owned land was selected for the project largely due to its proximity to other destinations in McKinney, Kowski said, including District 121, Hub

The next update on the project is slated for early 2025 as negotiations for the project are ongoing, according to a statement from the MEDC. Consideration of the project’s site plan as well as formal incentive agreements are also slated for the beginning of the year. Following city and project officials finalizing the incentive agreement for the development, work on the project is expected to begin in 2025. The first phase of the project is expected to open in 2026, the release states. “This just provides yet another part of our story that we can tell people across the nation, across the world, about why McKinney is very special,” Kowski said.

“It’s a world-class facility that is tremendously unique. It will bring people from outside our city here to spend tax dollars in our community. That benefits everybody,”

GEORGE FULLER, MCKINNEY MAYOR

121 and the Craig Ranch Soccer Complex. City leaders are pursuing an agreement with the developers for the project, which is set to be developed on 35 acres of land owned by the MEDC. Incentives being considered for the project include: • Infrastructure assistance • Land acquisition • Tax rebates

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MCKINNEY EDITION

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