What happened?
McKinney City Council members approved an amendment to the city’s development agreement with the hotel developer during a Jan. 6 meeting. The developer, listed as Craig Ranch Luxury Hotel SPE Owner LP in city documents, is seeking an extension to obtain its equity financing for the project, according to a city document.
Construction commencement and completion deadlines are being extended by 120 days. Construction must now start by April 30, 2027, and finish by Aug. 31, 2029, according to the amendment document.
The original agreement, approved by council members in June, required construction to start by Dec. 31, 2026, and finish by April 30, 2029.
About the project
The JW Marriott Resort McKinney Craig Ranch hotel was formally announced in June with approval of the economic development agreement. The project is being developed through a partnership between Ashford Inc., Craig International and Horizon Capital Partners.
The development plans for an 18-story resort hotel on an 8-acre parcel at the northeast corner of Collin McKinney Parkway and Van Tuyl Parkway.
The hotel will feature various amenities including:
- 290 guest rooms
- Over 50,000 square feet of hotel conference space, including multiple ballrooms with movable partitions, breakout spaces, boardrooms and more
- A fitness center
- A three-meal restaurant and a specialty restaurant
- A lounge with pool seating and food service
- Pickleball courts
