Title
Conduct a Public Hearing and Consider/Discuss/Act on a Retail Development Infrastructure Grant Application (RI 25-04) Submitted by 380 Marketplace LLC in the Amount of Fifty Thousand and NO/100 Dollars ($50,000.00) for Infrastructure Improvements Including Exterior Electrical, Water Line Replacement, and Site Improvements for Retail Shopping Center Located at 2414 W. University Drive, McKinney. Amount Represents 9% of the Total Project Cost.
Summary
COUNCIL GOAL: 1: Direction for Strategic and Economic Growth
1C: 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.
MEETING DATE: August 28, 2025
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
* McKinney Community Development Corporation will conduct a public hearing on a grant request in an amount of $50,000 for infrastructure improvements including exterior electrical, water line replacement, and site improvements for a retail shopping center located at 2414 W. University Drive.
* This goal is to transform a dated property into a vibrant, fully leased neighborhood center that better serves residents and strengthens a prominent gateway into the city.
* The full project scope involves a total renovation of an existing retail shopping center constructed in 1984. Improvements include a full fa?ade renovation, painting the building, new LED exterior lighting, restriping of the parking lot and fire lanes, concrete repairs, landscaping, and updated signage. To support long-term use and attract a broader range of tenants, the project will include replacing the old and undersized water line to accommodate restaurant users and constructing a new dumpster enclosure. New patio seating areas will create welcoming, community-oriented spaces.
BACKGROUND INFORMATION:
* 380 Marketplace LLC is a project of Precision Investments, a Dallas-b...
Click here for full text