City staff will work to negotiate a term sheet with the city’s development partner, M2G Ventures, for the redevelopment of five blocks of city-owned land in downtown following the approval of McKinney City Council members at a Nov. 19 meeting.
Council members approved a resolution adopting a proposed development program for the site and instructing city staff to move forward with negotiations in a 5-2 vote at the meeting, with council members Justin Beller and Patrick Cloutier voting against the item.
The gist
The development program features new structure on five city blocks, including:
- A six-story hotel with event and commercial space
- A five-story multifamily building with an integrated parking garage
- 12 townhomes
- A mixed-use block with commercial development such as restaurants and offices that could be as many a five stories tall
A site plan of the adopted development program depicts proposed land uses for properties being targeted for redevelopment in downtown. (Courtesy city of McKinney)
It would also include a nearly 5,600-square-foot park and additional green space on the south side of Roy and Helen Hall Memorial Library. City staff recommended approval of the development program, Executive Director of Development Services Michael Quint said at the meeting.
City leaders began considering the fate of four city-owned properties in downtown McKinney in early 2023. The properties, which currently feature McKinney City Hall and the city’s development services office as well two parking lots, will be vacant following the opening of the new McKinney City Hall.
Following public input opportunities and consideration of project proposals by various developers, council members elected to pursue a public-private partnership with Fort Worth-based M2G Ventures to guide the redevelopment of the properties.
Following the selection of the development partner, city staff entered a negotiation period that was later extended to December 31. Additional public meetings have also been held to share updates on the project.
What they’re saying
Beller said his “no” vote was due to the amount of office space proposed in the development program.
“I still firmly believe that we have a lot of opportunity for additional commercial, particularly office space, in this development, and I am not satisfied with their programing of multifamily,” he said.
Cloutier, the other “no” vote on the agenda item, echoed similar concerns and instead expressed support for incremental development of the properties over time.
“We have an opportunity that may take some years to get some more [offices] down here and more companies ... I’ll be voting ‘no’ on this because I would like to give that time to see if that manifests,” Cloutier said.
Mayor Pro Tem Geré Feltus said delaying development of the properties would be concerning to her, noting that representatives of M2G Ventures have committed to aligning the development with the historic nature of the downtown area.
“What I am most concerned about is just leaving everything vacant and to chance when we already have people gunning for our downtown ... [and] wanting to move in and put up projects that are not consistent with [the] existing fabric,” she said.
Mayor George Fuller expressed similar sentiments, saying the public-private partnership approach allows council members the opportunity to “protect the historic fabric” of the downtown area.
Quote of note
“I would love to see office developed in downtown McKinney, I think it’s still a possibility in this contract, but I want to see us move forward and get this project underway, and not let people be afraid to walk from the parking lot to downtown because of the vacancies,” council member Charlie Philips said.
Looking ahead
Quint said the development program adopted in the resolution will serve as the foundation for the term sheet.
The term sheet could be presented to council members for consideration prior to the end of the year, Quint said. Following the end of negotiations for the project, the development process will be determined, the city’s website states.
For more information on the downtown redevelopment initiative, visit www.mckinneytexas.org/cityproperty.
