Funding for the projects were approved through the McKinney Community Development Corporation’s grants program. The funding allocations were approved by the MCDC board of directors in different meetings earlier this year.
In a nutshell
After council took action June 3, the FY2024-25 budget will be amended to allocate $4 million for the Cannon Beach project. The money will be used to make infrastructure improvements on land located at the northeast intersection of SH 121 and Stacy Road.
The MCDC board approved the $4 million grant in February alongside several other grant awards.
Additionally, about $6.74 million will be reallocated to several projects being pursued by the McKinney Parks department. These funds were previously awarded to the parks department but are being reallocated to different projects after MCDC board approval in May.
- $2,797,804 for Wattley Park improvements
- $489,314 for Old Settler’s Park renovations
- $1,580,743 for Greens Neighborhood Park
- $315,077 for mobile concert stage
- $318,664 for new playground at Horizon Park
- $1,039,504 for Recreation Center at Towne Lake improvements
- $200,000 for Erwin Park improvements
The Cannon Beach project was announced in December 2024 and is expected to bring a resort-style hotel and surfing lagoon to McKinney. The $200 million mixed-use project will be located on 35 acres and will feature retail space with restaurants and family-focused entertainment offerings.
The surf lagoon will range from 3-10.5 feet in depth and feature a variety of waves. The lagoon will also include a 17-foot-deep cliff diving pool and a continuous wave pool. The beach adjacent to the wave pool will be open to the public.
