McKinney City Council gave the green light to a new affordable workforce housing complex by passing a resolution of “non objection” during a Dec. 17 City Council meeting.
The complex, called McKinney Flats, will be located on a portion of a 12-acre tract of land near the corner of Test Drive and Collin McKinney Parkway, according to a presentation given at a Dec. 3 council meeting.
McKinney Flats will feature a 206-unit apartment complex in a series of three-story buildings, according to the project developer NRP Group. The development will offer apartments to qualifying residents at a rent below the market rate.
Qualifying residents are workers earning 50%-80% of the McKinney area median income. The area median income for McKinney was more than $83,000 this year, said Janay Tieken, McKinney Housing & Community Development manager, during the Dec. 3 meeting.
“I am not talking about folks that are on disability checks or fixed incomes or Social Security,” Tieken said. “It’s folks that are working and are earning pretty good money, but they can’t afford the market rate.”
These people include construction workers, teachers, salespersons and government employees, including some employed by the city of McKinney, she said.
NRP Group is still going through the process of obtaining tax credit qualifications for the projects, but plans to close on the property in June and start construction in July.
