The City of McKinney today broke ground on the future home of the McKinney Air Center, a state-of-the-art fixed-base operator (FBO) terminal at the McKinney National Airport. Construction is expected to take approximately 12-18 months.
“This new state-of-the-art FBO terminal will help us compete with other world-class facilities that are vying for the lucrative dollars generated by the many corporate fleets pouring into Collin County and the larger Dallas area,” said Mayor George Fuller. “In terms of operations, March was the busiest month at the airport in 17 years. Facilities like this will continue to increase the airport’s value as an economic driver in our region.”
The city will contribute $10 million in a lease purchase agreement that will be credited toward the final purchase of the facilities. Western LLC will contribute the remaining funding for the project and be responsible for the construction and development of the facilities. Western LLC will own the facilities until the city has fulfilled its lease obligations during the next 20 years, at which time the facilities will become city-owned. The city has the option to purchase the facilities at any time before the end of the lease agreement.
City funding comes from the McKinney Economic Development Corporation and the McKinney Community Development Corporation, which each contributed a $4 million grant toward the project. The remaining $2 million will come from the airport construction fund.
“The airport and FBO in McKinney have been receiving national recognition for many years and we are thrilled to be part of their development as they move to bring their facilities on par with their reputation for world-class service,” said Brad Henderson, President and Managing Member of Western LLC.
McKinney, Texas, is unique by nature. As one of the fastest growing cities in America, McKinney has a current population of 180,000. The city was #1 on the list of Best Places to Live in America in 2014, published by Money Magazine. Established in 1848, the city is located 30 miles north of Dallas and is the county seat of Collin County. McKinney offers award-winning schools, a vibrant historic downtown, diverse housing options, a robust economy and a uniquely beautiful natural setting, with rolling hills and lush trees. Visit the city's website.