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Downtown City-Owned Property Redevelopment
Background
The City of McKinney has several properties in downtown McKinney that will be vacated when city offices move to the new City Hall (currently in construction) that will be located on the east side of S.H. 5.
The following properties will be available for redevelopment in early 2025. McKinney City Council and city staff want to ensure that citizens and downtown property owners have a voice in the future development of these properties.
- Development Services Building | 221 N. Tennessee St.
- Current City Hall Building | 222 N. Tennessee St.
- Parking Lot 1 | 308 N. Tennessee St. / 303 N. Johnson St.
- Parking Lot B | 301 N. Chestnut St.
221 N. Tennessee St.
Current Use: Development Services building
- Property Details: 39,000 sq. ft.
- Appraised Value (Mar. 2023): $2,600,000 / $1,100,000 (land)
- Located within TIRZ #1
- Town Center Study Master Plan (Oct. 2008): Lofts / Office over Retail
- Zoning: McKinney Town Center (Downtown Core Character District)
- Uses Permitted: Residential, hotel, office, restaurant, personal service, etc.
- Height Allowed: 5 stories
222 N. Tennessee St.
Current Use: City Hall building
- Property Details: 40,001 sq. ft.
- Appraised Value (Mar. 2023): $4,850,000 / $1,100,000 (land)
- Located within TIRZ #1
- Town Center Study Master Plan (Oct. 2008): Lofts / Office over retail
- Zoning: McKinney Town Center (Downtown Core Character District)
- Uses Permitted: Residential, hotel, office, restaurant, personal service, etc.
- Height Allowed: 5 stories
308 N. Tennessee St. / 303 N. Johnson St.
Current Use: Public Parking Lot 1
- Property Details: 88,000 sq. ft.
- Appraised Value (Mar. 2023): $2,600,000
- Located within TIRZ #1
- Town Center Study Master Plan (Oct. 2008): Parking garage, townhome and live / work infill, lofts / office over retail
- Zoning: McKinney Town Center (Downtown Core Character District)
- Uses Permitted: Residential, hotel, office, restaurant, personal service, etc.
- Height Allowed: 5 stories
301 N. Chestnut St.
Current Use: Public Parking Lot B
- Property Details: 40,000 sq. ft.
- Appraised Value (Mar. 2023): $1,150,000
- Located within TIRZ #1
- Town Center Study Master Plan (Oct. 2008): Parking garage, townhome and live / work infill, lofts / office over retail
- Zoning: McKinney Town Center (Downtown Core Character District)
- Uses Permitted: Residential, hotel, office, restaurant, personal service, etc.
- Height Allowed: 5 stories
Phases for Redevelopment
- Phase 1: Initial Public Input | Feb - May 2023 | Complete
- Phase 2: Request for Qualifications | May - Jul 2023
- Phase 3: Partner Selection | Jul - Nov 2023
- Phase 4: Negotiation | Jan - Jun 2024
- Phase 5: Development Process | Oct 2024 and beyond
Timelines are approximate and subject to change at any time. Development process timeline will be determined based on the results of prior phases.
Public Engagement Opportunities
Current Status: Initial Public Input
Feb - May 2023
Get the latest updates by signing up for the following notification lists:
- News Flash | Downtown City-Owned Property Redevelopment Community Involvement
- Notify Me | Planning & Zoning Commission Agendas
- Notify Me | Planning & Zoning Commission Work Session Agendas