Once complete, the 2.75-acre neighborhood will offer 35 units for qualifying low- to moderate-income families to purchase. Residents’ monthly payments will cost no more than 30% of their household’s gross monthly income.
The Cotton Groves project is backed by Habitat for Humanity of Collin County and aims to offer a way for low-income residents to become homeowners and build equity, said CEO Celeste Cox.
The project received a $877,521 grant from the McKinney Community Development Corp. for necessary infrastructure, such as construction of streets, sewers and other utilities. After these improvements are made, volunteers will start constructing the community’s first set of townhouses in February or March.
Cox said the community will finish out as the project gets closer to reaching its $6 million fundraising goal.
The neighborhood will feature a 2,600-square-foot amenity center, which will offer social, health and fitness opportunities as well as a community park.