A new multifamily affordable housing development from Dallas-based developer JPI is planned for McKinney.

The roughly $104 million development is in partnership with the McKinney Housing Authority, according to city documents.

The gist

The Jefferson Terry development, located at the southeast corner of University Drive and Terry Lane, will feature 393 units spread across four buildings, each four stories tall, city documents state. The complex will feature a dog park, a pool, an arcade and a fitness center, said Aaron Douthit, JPI vice president and area development partner.

The complex will have studio, one-, two-and-three-bedroom units, with rent ranging from $579 to $3,118, depending on unit size and affordability rate, city documents state. Of the 393 units, 197 are expected to be rented at below market rates.

At least 50% of Jefferson Terry’s 393 units will be reserved for households making less than 80% of the area median income, including 5% reserved for households making less than 30%, according to a presentation on the project given at a Dec. 17 McKinney City Council meeting. Representatives of the McKinney Housing Authority approved a partnership with JPI for the project in November, a JPI representative said at the council meeting.

The context

Collin County’s median income for fiscal year 2025 is $117,300 for a family of four, according to the U.S. Department of Housing and Urban Development's website, making 80% of the area median income roughly $94,000, and 30% about $35,000 for families of four.

Looking ahead

Construction on the development is set to begin in July and be complete by August 2027, city documents state. The complex is set to begin business operations in spring 2027, Douthit said.

There are two other properties from JPI that are currently leasing in McKinney, and Jefferson Terry is expected to be the third property from the company in the city, Douthit added.

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