A new senior living development, Watermere at McKinney, is set to begin construction early next year, said Andrew Chapin, vice president of development for Integrated Real Estate Group.
Located at 3351 Virginia Parkway, the $48 million project will include 226 units and seven villas ranging between 1,600-1,800 square feet, according to Chapin. He also said a majority of the units will be two- and three-bedroom floor plans with monthly rental rates starting at $2,299 for one-bedroom units and $2,999 for two-bedroom units.
The development will be located on 12.6 acres, and the building will be just over 366,000 square feet, reserving more than half of the total property as green space, Chapin said. The independent-living community for adults age 55 and older will offer customizable service options for residents, including options for dining and housekeeping. Other amenities include transportation, a daily activity calendar, a fitness studio, key fob secure access and more, Chapin said.
“Many of our [Watermere at Frisco] residents come from McKinney looking for the value that our Watermere model offers. The demographics of McKinney are very clear that the senior population will be growing rapidly over the next 10 years, and the city has done a great job preparing to meet that need,” Chapin said in an email.
