McKinney Flats is a new construction residential development and public/private partnership between the McKinney Housing Finance Corporation (MHFC) and NRP Group. The project, located at Collin McKinney Parkway and Test Drive, is designed to serve families earning 50%-70% of the average median income (AMI), which translates to a family of four earning $41,550 - $58,170 per year. As McKinney continues to grow and the price of housing increases, it’s critical for the city to provide housing opportunities for an array of careers that could include those like financial clerks, municipal workers, plumbers, retail supervisors, firefighters, and teachers, to name a few. The partnership will allow the MHFC to share in the developer fee and cash flow of the development. These funds can then be used to further workforce housing initiatives in McKinney.
Updated March 6, 2020
Q: Why is the city entering into a public/private partnership for this development?
A: While this partnership is different than typical multi-family projects with private development companies, this public/private partnership provides for opportunities to ensure the project meets established design criteria and performance standards. These types of partnerships, while new to McKinney, are not new to Texas. In fact, they have become an effective way to develop high quality, and well designed, workforce housing.
Q: How large will the development be?
A: The housing development will include 205 units in eight, three-story residential buildings. Common amenities include a playground and pool, laundry center, and a community center that includes a lounge, fitness area, conference room, business center, activity room, and leasing offices. Some carport style covered parking will be provided.
Q: What is the project timeline?
A: Construction is slated to break ground in the summer of 2020 and be completed in late summer of 2021.
Q: How was the site selected?
A: NRP Group assembled several available properties in McKinney and completed a development site analysis with MHFC, which reviews site-specific conditions that influence project cost and viability, like topography, natural features, and available utilities. For this particular project, sites located within the designated Difficult Development Area (DDA) were eligible for a tax credit that would financially benefit the project.
MHFC would only support a site requiring rezoning if a staff recommendation of approval accompanied that rezoning. The staff recommendation is based on the Comprehensive Plan and policies as approved by the City Council. After careful analysis, the site location at Collin McKinney Parkway and Test Drive became the most viable property, even though a rezoning was required. It is located in the target area west of U.S. 75, in a high opportunity area and within the DDA.
Q: Why did the property have to be rezoned?
A: Zoning regulations govern the allowed uses on properties within McKinney as well as any required development standards related to such development, like building size, height, location, density, parking requirements, landscaping, etc. In the case of the McKinney Flats project, the existing zoning on the property from 1984 did not allow for multi-family residential uses. Therefore, a rezoning request was considered by staff, the Planning and Zoning Commission and the City Council to rezone the property from its existing zoning (PD 1480) to new zoning (PD 2019-12-078) to allow for, among other things, multi-family uses. In addition to the newly allowed uses, the rezoning request also defined development standards for how the site must develop. The rezoning request was considered by the Planning and Zoning Commission on Oct. 22, 2019, with a favorable recommendation and was ultimately approved by the City Council on Dec. 3, 2019.
To learn more about the project, watch the meetings below:
- Planning and Zoning meeting: Oct. 22, 2019, Item # 19-0087Z
- City Council meeting: Dec. 3, 2019, Item # 19-0087Z2
- City Council meeting: Dec. 17, 2019, Item #19-1069
You can also review the agenda packets and minutes from the meetings below:
- McKinney Housing Finance Corporation meeting: August 8, 2019, Item #19-0671
- McKinney Housing Finance Corporation meeting: Nov. 8, 2019, Item #19-0837
- McKinney Housing Finance Corporation meeting: Feb. 14, 2020, Item #20-154
This development received several citizen comments during the approval process. The table below outlines the changes that were made to the construction plans by the developer based on citizen feedback:
|Resident Concern:||Developer Response:|
|Privacy||Made building setback minimum of 150 feet. It goes up to 300 feet in some areas with an average setback of 220 feet.|
|Privacy||8 foot fencing.|
|Privacy||No balconies of living room windows facing adjacent single family homes.|
|Privacy||Changed the direction of the buildings to decrease the number of windows facing adjacent single family homes.|
|Privacy / Noise||Added a double row of trees as a landscape buffer: 30 foot buffer with 44 trees. At planting trees will be 12 foot.|
|Noise||Removed outdoor amenity spaces on the west side facing single family residences.|