Title
Conduct a Public Hearing and Consider/Discuss/Act on a Project Grant Application Submitted by Presidium Group, LLC, (4B26-04) in an Amount of Thirteen Million Six Hundred Thirty-Four Thousand Six Hundred Thirty-Eight Dollars and 49/100 Dollars ($13,634,638.49) for Infrastructure Improvements Related to Development of The Cotton Mill District, Located at 610 Elm Street in McKinney, Texas. Amount Requested Represents 71.3% of Infrastructure Cost for the Project.
Summary
COUNCIL GOAL: 1: Direction for strategic and economic growth
1:1 Provide a strong economy by creating a Global Housing Strategy and facilitating a balance between industrial, commercial, residential, and open space.
5: Enhance Quality of Life in McKinney
5.3: Develop sustainable quality of life improvements within the City of McKinney
MEETING DATE: January 22, 2026
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• McKinney Community Development Corporation will conduct a public hearing on a project grant application submitted by Presidium Group, LLC, in an amount of $13,634,638.49 for infrastructure improvements related to the construction of The Cotton Mill District. Request is for infrastructure improvements to support Phases 1 through 4 of the overall project.
• Estimated completion for Phase 1 is February 1, 2028. Completion of phases would be within six years.
• Construction of two, three-story office buildings is planned for Phase 3 and 4.
• Based on a report from Catalyst Commercial, the 20-year economic impact of the project is estimated at $826,482,817.
• Presidium owns 8.12 acres with an option for an additional 4.38 acres. Another 15.09 acres is owned by The Cotton Mill.
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BACKGROUND INFORMATION:
• Presidium is a Texas-based real estate developer, owner, and operator with a 22-year operating history and an existing real estate portfolio with assets totaling $2.6 billion in valuation and co-headquartered in Dallas and Austin.
• Presidium’s in-house capabilities include acquisitions, development, property management, asset management, law, finance, accounting, special servicing, and public-private partnerships.
• Presidium experience includes multifamily value-add acquisitions and development.
• Presidium’s development team employs over 200 team members across five offices.
• Throughout its history, Presidium has overseen 26,000 units and sold over $2.42 billion in assets with an average IRR of 38.5%.
FINANCIAL SUMMARY:
• Presidium has not requested funding from MCDC prior to this application.
SUPPORTING MATERIALS:
• Application Packet
• Presentation