BY COLBY FARR
The impact
One more thing
a Palladium USA affordable housing development. “When you provide people with an opportunity for affordable, safe and decent housing, it con- tributes to the community and the economy as a whole,” MCDC President Cindy Schneible said.
The summit was formally hosted by the McKin- ney Front Porch, a collaborative initiative launched in 2023 by the McKinney Community Development Corp. MCDC has supported multiple affordable housing projects, recently awarding $2.5 million to
Habitat for Humanity of Collin County has several projects currently underway in McKinney, including the Cotton Groves, a 35-unit affordable townhome development. In March, the first five families moved in. “I see affordable housing as a critical enabler of economic development and workforce development,” CEO Stephannie Krunglevich said. “Housing is what allows folks to live and work in the communities that they live and work in.” City officials are developing an action plan based on recommendations from the Root Policy Research report and hope to present it to council by the end of the fiscal year. “No one can do it alone,” Li said. “Even the developers can’t do it alone, which is the reason why they come to us or the housing authority for the tax exemptions ... The projects just aren’t feasible on their own.”
Housing affordability for workers by industry
Max affordable price
Workers in several industries cannot afford typical rent or home prices in McKinney.
Housing
Renting
Median home price: $485K
Typical monthly rent: $1,893
$100K $200K $300K $400K $500K
$4K
$368.1K
$2K $3K $1K
$3,197
$189K
$154.6K
$133.4K
$1,642
$92.1K
$1,343
$1,158
$800
$0
$0
SOURCES: U.S. CENSUS BUREAU, ROOT POLICY RESEARCH/COMMUNITY IMPACT
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