Title
Conduct a Public Hearing and Consider/Discuss/Act on a Project Grant Application Submitted by Cotton Mill Partners, LTD, (4B26-10) in an Amount of Thirteen Million Six Hundred Twenty Thousand Eight Hundred Ninety-Six and 11/100 Dollars ($13,634,896.11) for Infrastructure Improvements Related to the Development of The Cotton Mill District, Located at 610 Elm Street in McKinney, Texas. Amount Requested Represents 71.3% of Total Infrastructure Cost for the Project.
Summary
COUNCIL GOAL: 1: Direction for strategic and economic growth
1:1 Provide a strong economy by 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: April 23, 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 Cotton Mill Partners, LTD, in an amount of $13,620,896.11 for infrastructure improvements related to the construction of The Cotton Mill District.
• These infrastructure improvements are necessary to support any type of development in the district including public spaces, retail, hospitality, office, commercial, and residential.
• Envisioned as the southern anchor of the Highway 5 corridor, this project intends to cultivate a vibrant, inclusive district where people can gather, connect, dine, and shop.
• Approximately 1.5 acres will be dedicated to public space (plazas, parks, open space) that will serve as gathering places for residents and visitors. Elements of these public spaces include event lawn, central fountain, and a network or pedestrian walkways and paseos designed to host programming and community events.
• Prioritizing open space allows the total project to begin to move forward in a meaningful way as vertical components are phased in over time in response to market conditions.
• Phase 1 of infrastructure improvements will serve approximately 16.92 acres of the district.
• Based on a recent Economic Impact Study, the 20-year economic impact of the total project is estimated at $826 million, including approximately $192 million in tax revenues. Additionally, the project is expected to create 2,800 jobs.
BACKGROUND INFORMATION:
• The Cotton Mill is a unique, historic facility offering loft office space, event hall and a perfect backdrop for photography shoots.
• The industrial equipment and unique features that once made the place the largest denim manufacturer in the world remain today, making it a one-of-a-kind destination for weddings, parties, and corporate events.
FINANCIAL SUMMARY:
• In FY 2025, The Cotton Mill was awarded two retail development infrastructure grants totaling just over $50,000 for a sidewalk supporting retail access and for upgrades to the outdoor wedding venue.
SUPPORTING MATERIALS:
• Application Packet
• Presentation