Downtown McKinney could soon be home to a new 300-space parking garage.[/caption]
A downtown parking garage has found its way to the McKinney City Council agenda for next Tuesday, and this time no bonds are involved.
After a failed bond proposition last November that sought bonds to construct a $13 million, four-story, 400-plus space parking garage downtown, city leaders have been working to find a solution. And, according to the Nov. 15 city council agenda, that solution could come in the form of another proposed parking garage in downtown McKinney.
Many residents said the November bond proposition failed because of the proposed garage's location—on Church Street between Louisiana and Virginia streets where a small surface lot sits—which would make the garage the first thing seen by drivers coming from US 75 along Louisiana Street to historic downtown.
The agenda item would allow the city manager to enter into a development agreement with [email protected], LLC and SP2 301 E. Virginia, LLC, which own property at the northeast corner of Virginia and Chestnut streets.
According to the proposed agreement, the property owners are willing to construct a 300-parking space garage on a portion of their property on their own dime and then allow the city to lease the garage with an option to buy.