The Lloyd-Owens and Cockrell Homes housing units on the east side of SH 5 are being targeted for an expansion and upgrades as part of a public-private partnership. The McKinney Housing Authority is partnering with Louisiana-based Knight Development to demolish the existing units and rebuild larger, updated multifamily residences to provide the area with additional affordable housing units.
“We're ready to bring this economic opportunity to this side of the community and improve the community, and also add value to the community,” said Roslyn Miller, executive director of the McKinney Housing Authority.
The properties were built in the 1950s as part of the city’s public housing stock. Cockrell Homes and Lloyd Owens are located roughly a mile apart and have a combined 50 housing units on 5.9 total acres, according to city documents. The proposed project, called the Remnant at Greenwood Apartments, would construct 96 new units in various configurations. The Cockrell Homes site would see 36 townhouse units and five duplexes, and Lloyd Owens has two- and three- story multifamily buildings planned. There are also plans to add a clubhouse-style community center and a playground area on the properties.
“This development will serve as workforce housing, offering well-appointed units with modern amenities, smart-home features, and energy-efficient features to help lower the residents' utility rates,” said Christianne Brunini, chief marketing officer for Knight Development.
This project is part of a larger initiative by the city of McKinney and the McKinney Housing Authority to revitalize the city’s housing stock and add units to the growing city, Miller said. The city has just under 800 public housing units, which serve all of McKinney, as well as various local communities that do not have their own housing authority services, including Melissa, Prosper and Celina, Miller said.
“When it comes down to the need for more affordable housing, the [McKinney] Housing Authority opted to take the option to provide that affordable housing. The need for more housing at 30% [of the average median income] is tremendous,” Miller said. “We get phone calls all day, ... emails all day from people who are in need of housing assistance.”
The proposed deal is scheduled to close this summer and could begin construction shortly after, according to Brunini. Construction would take roughly two years with an estimated August 2025 completion date and would be completed in phases.
Knight Development plans to reach out to existing residents of the properties as the project is finalized to communicate details of the project and a relocation plan, Brunini said. The project will use the Department of Housing and Urban Development’s Rental Assistance Demonstration program to implement displacement measures for affected residents, Miller said.
“We take our residents' rights seriously and make every effort to minimize disruption. No residents will be permanently displaced. All temporary relocation will be paid for by the project,” Brunini said.
The project is estimated to cost about $35.9 million, including both demolition and construction costs, according to city documents. The project is anticipated to be funded by both public and private funds, including tax exempt bonds and grants, Brunini said. A portion of the units will be reserved for the Department of Housing and Urban Development’s Housing Choice Voucher Program, which is the program in use at the properties. Additional units added will range in cost between $712-$2,504, according to city documents, and will serve residents making between 30%-80% of the area’s median income of $97,400, according to data from the Texas Department of Housing and Community Affairs, Brunini said.
“We are also reaching out to local organizations interested in partnering to provide social services and any other opportunities that can increase the quality of life for the residents and positively impact the surrounding community,” Brunini said.