McKinney | August 2023

DEVELOPMENT

McKinney Cotton Mill to see addition of multifamily, mixed-use ‘catalyst project’ The project would include parkland and open space between the existing McKinney Cotton Mill and the planned multifamily development. RENDERING COURTESY CITY OF MCKINNEY

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Diving in deeper: Presidium began working with Terry Casey, owner of the McKinney Cotton Mill, and the Casey family about two years ago, Farrell said. Terry Casey has owned the property since 1996, according to his son, McCall Casey. The organization began to reach out to community leaders, stake- holders and residents living near the site to get input and feedback on the plan for the site in 2021, Farrell said. “In trying to keep with what the Caseys have done, a wonderful job in renovating this historic building, we wanted to create something that compliments it,” Farrell said of the redevelopment project. What they’re saying : Council Mem- ber Rick Franklin called the redevel- opment a “catalyst project,” noting its proximity to other development eorts in east McKinney. Council Member Justin Beller, who represents District 1 where the Cotton Mill is located, said he is in favor of the redevelopment, noting the potential for attracting people and businesses such as grocers to McKinney’s east side. “[The project] will bring about the resources that density and people will provide,” Beller said. “You’re doing it in a place that doesn’t neces- sarily put us at risk for displacement or other factors.” Council members noted concerns about the proposed building heights. “I love the idea because I think it will be unique from west McKinney; I just hate the height,” Feltus said.

BY SHELBIE HAMILTON

Over 1,100 multifamily units, oce space and retail are planned for a redevelopment project at the McK- inney Cotton Mill in east McKinney, according to a presentation at a July 18 City Council meeting. Council members voted 5-2 to approve site plan variances for the project at the meeting, with Mayor Pro Tem Charlie Philips and Council Member Geré Feltus voting against. The details: The overall site at the southeast corner of McDonald and Elm streets totals 32.1 acres. The project is an eort by Tex- as-based real estate development rm Presidium. The plans for the redevelopment include adding: • One ve-story multifamily building and three seven-story multifamily buildings totaling 1,135 units • Two four-story oce buildings totaling 195,000 square feet • 27 townhomes, referred to as “art- ist lofts,” according to site plans By the numbers: A study conducted analyzed the economic impact of the planned project, Presidium President of Development Mark Farrell said. Over a 20-year period, the mixed-use project would: • Generate $933 million in economic impact • Bring about over 4,100 jobs during construction • Generate $38 million in tax reve- nue to the city, Farrell said

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MCKINNEY EDITION • AUGUST 2023