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MCDC approves $2.5 million infrastructure grant for McKinney Ranch Senior Living
Summary
The McKinney Community Development Corporation voted Feb. 26 to approve a $2.5 million project grant to Palladium McKinney Ranch for infrastructure supporting a 109‑unit senior living development, including 72 units targeted at households at or below 60% AMI; a public commenter said the project "cannot go forward" without the full award.
The McKinney Community Development Corporation on Feb. 26 approved a $2,500,000 project grant to Palladium McKinney Ranch for infrastructure related to a new independent senior living development. The board considered the application for a 109‑unit community at 5353 McKinney Ranch Parkway, with 72 units designated for seniors at or below 60% of area median income, according to the agenda description.
David Craig, a local affordability advocate who addressed the board during the item, urged approval and said the development ‘‘cannot go forward’’ without the full grant. Craig identified himself and his business address in testimony before the board.
A board member moved to approve the funding — with wording that allowed for potential reductions or relief from the city — and another member seconded. The motion passed. The agenda packet listed the requested amount as a portion of total project cost; staff noted the award represents a modest share of the overall project budget but did not provide a vote tally on the public record during the meeting.
The item was considered after the meeting’s executive session and included public comment; board members did not raise conditions that would alter the award on the record at the Feb. 26 meeting.
