Gateway site stalls as developer withdrawsThe Gateway site, located at the northeast corner of US 75 and SH 121, has stalled again as Lincoln Property Co., Inc. officials told the city in late March they cannot proceed under the terms and conditions set forth in the master development agreement and withdrew as the master developer for the site.

The  agreement was signed with Lincoln Property on May 14, 2015. According to its terms, Lincoln had to acquire the first parcel by executing a purchase agreement by Feb. 16, 2015 in order to continue as the master developer.

“We are disappointed that Lincoln has withdrawn from this important economic development project,” Mayor Brian Loughmiller said. “This is a development site that has been years in the making, and we remain committed to bringing a robust master development for this highly visible and important Gateway site to our community. The city, [McKinney Economic Development Corp.] and the [McKinney Community Development Corp.] will be exploring next steps for Gateway very soon.”

There have been multiple development plans for the site, including plans to build Marriott and Westin hotels and a movie theater. In 2008 construction began with a $200 million initiative to construct a 221-room Westin hotel with offices, shops and restaurants all surrounding a lake.

However, that was put on hold later that year because of the economic downturn and further pushed back in 2009 when MEDC decided to sue a subsidiary of the project developer over a dispute regarding the retail component of the project.

The city and project developer reached a settlement and dismissed the lawsuit in January 2011. The city then gained ownership of the property and control over its development. In 2012, the city and MCDC entered into an agreement with Champ Hospitality and The Beck Group to resume the hotel construction, which began in 2014 and completed in 2015.