Title
Conduct a Public Hearing and Consider/Discuss/Act on a Project Grant Application Submitted by Entertainment Properties 360 LLC (4B25-16) in an Amount of Two Million and No/100 Dollars ($2,000,000.00) for Enhancements to the Privately Owned, Publicly Accessible Park Located in the Commercial Portion of West Grove Retail Development at 8701 West University Drive, McKinney, Texas, to Include Playscapes, Shade Structure, Water Feature, Trees, Public Restrooms, and Wi-Fi. Request Represents 100% of Total Project Cost.
Summary
COUNCIL GOAL: 1: Direction for Strategic and Economic Growth
1.2: Continue to develop a retail strategy for key areas of the community to diversify revenue sources and expand entertainment, dining and shopping options and tourism.
5: Enhance Quality of Life in McKinney
5.1: Create affordable recreational and cultural arts activities
for all ages throughout the city
MEETING DATE: July 24, 2025
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• MCDC will conduct a public hearing on a request submitted by Entertainment Properties 360 LLC (4B25-12) in the amount of $2,000,000 for enhancements to the privately owned, publicly accessible park located in the West Grove Retail Development located at Custer Road and University. Project components will include the following:
o $650,000 for public restrooms (2 units)
o $125,000 for public Wi-Fi Network
o $4,975 for food truck area improvements
o $125,000 for enhanced paver crosswalks
o $67,150 for a 20’ X 14’ event stage with canopy
o $95,455 for a 45’ X 43’ commercial playground for ages 5-12
o $264,485 for steel shade structures with lighting and fans
o $503,478 for water features including bubbling pot and large raised feature
o $24,300 for specimen trees including Little Gem Magnolia, Eastern Red Bud, Shumard Red Oak, or similar options
o $12,510 for landscaping, irrigation, and drainage
o $44,695 for design, mobilization, and documentation
o $82,497 for overage contingency
• Entertainment Properties 360 will manage park maintenance, operations and programming to include live music, cultural performances, family movie nights, seasonal festivals, fitness and wellness classes, community markets, and pop-up events.
BACKGROUND INFORMATION:
• West Grove Retail Development is currently constructing 140,000 square feet of retail space which includes:
o Whole Foods as anchor grocery tenant;
o 51,000 square feet of office space;
o 10,000 square feet of retail-ready space;
o Up to 420 multi-family residential units; and
o A 2-acre privately owned, publicly accessible park.
• Development partners include Entertainment Properties 360, Ryan LLC, and De La Vega Development.
FINANCIAL SUMMARY:
• Under the terms of a Chapter 380 Agreement executed with the City of McKinney, the West Grove project is entitled to receive economic incentives in the amount of $10.25 million generated from ad valorem and sales and use taxes, when certain conditions are met. One of the conditions is completion of the construction of a Park by 12/31/2028. Failure to timely complete the park will reduce the city incentive by $2.0 million.
• Funds allocated for FY25 for discretionary Community, Economic Development and Pipeline Project grants total $7,459,257.
• The request is eligible for MCDC consideration under Section 505.152 of the Texas Local Government Code.
SUPPORTING MATERIALS:
• Application Packet
• Presentation