Billingsley Company outlines multifamily development plans at Cypress Waters and Austin Ranch

The McKinney Planning & Zoning Commission meeting held on April 8, 2025, featured a detailed presentation on a significant multifamily development project. The discussion centered around the proposed development's scale, design, and economic impact on the city.

The project encompasses approximately 22 acres dedicated to brownstones and 70 acres for traditional multifamily housing, alongside 63 acres of open space. Additionally, 41 acres are affected by the condemnation of the 380 bypass. The developers emphasized the importance of creating a balanced relationship between the multifamily units and the surrounding open spaces.

During the presentation, representatives from the development company outlined their extensive experience in the Dallas-Fort Worth metroplex, highlighting previous successful projects such as Austin Ranch and Cypress Waters. They noted that their approach prioritizes the development of public spaces and amenities before constructing residential units, ensuring a well-planned community environment.

The presentation showcased various architectural designs and community features, including parks, trails, and recreational areas, aimed at enhancing the quality of life for residents. The developers stressed their commitment to maintaining high architectural standards and creating vibrant, engaging spaces.

A key point of discussion was the anticipated demand for single-family homes versus multifamily units. The developers indicated that the demand for single-family homes is currently stronger, and they plan to time the multifamily development to align with market conditions to ensure quality.

Financial projections revealed that, upon full build-out, the development could represent an asset valued at over $2 billion, generating approximately $9 million annually in taxes for the city of McKinney, with a total tax contribution of around $41 million, benefiting local schools significantly.

The meeting concluded with an invitation for questions, indicating a willingness to engage with the community and address any concerns regarding the development. Overall, the discussions highlighted the project's potential to significantly impact McKinney's growth and economic landscape.