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- McKinney | 1,756-Unit Mixed-use
McKinney | 1,756-Unit Mixed-use
3/31/25 – 3/11/25 | McKinney Northgate Long Branch
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CC March 31, 2025 – P&Z March 11, 2025
District: 1 | North McKinney
1,756-Unit Mixed-use | S of Laud Howell Pkwy | Approved
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DISTRICT: 1
Wilson 155 Mixed-Use S of Laud Howell Pkwy & NEC/NWC of Laud Howell Pkwy & Trinity Falls Pkwy
North McKinney | 146 Acres | 1,756 Units | Approved
City Council 3/31/25
PD C → PD MU | Approved
At 146 acres and a total of 1,756 units, the Wilson 155 'Northgate Long Branch' deal represents one of the most significant land plays in the northern McKinney submarket. Situated at the intersection of Laud Howell Parkway and Trinity Falls Parkway near US 75 and the planned 380 Bypass, this development demonstrates how suburban markets are evolving toward urban-style mixed-use formats. Investor Vaulter and Developer Creation Equity received unanimous 7-0 P&Z approval and garnered general support from City Council despite concerns about the rental-heavy program from some members.
Program Breakdown
The development program includes approximately 1,756 multifamily units across four distinct tracts:
Commercial components include:
65,000 SF grocery anchor
318,600 SF office space
100-key hotel
70,000 SF additional retail
910-space central parking structure
Sequencing Requirements
The developer has incorporated significant commercial sequencing requirements to ensure delivery of a true mixed-use project rather than just multifamily:
Tract III requires 20,000 SF commercial under construction before multifamily permits
Tract IV requires 20,000 SF commercial for first 400 units, increasing to 40,000 SF for remaining units
Approximately 24.75 acres reserved exclusively for commercial uses
U/ Product
Market Positioning
The product is clearly targeting the growing "renter by choice" demographic with monthly rents projected at $2,500-3,500 for brownstone units. The developer positions this against ownership costs in the area, where comparable homes run $600,000-800,000 with monthly costs exceeding $4,000.
‟Typically, for a call it 1500 to 2000 square foot unit like this, that will be anywhere from–call it 25 to $3500 a month, and that's got your parking included already, which compared to a mortgage on a 600 to $800,000 house with 10 to 15% down feels pretty good... Your same mortgage, taxes, insurance, maintenance on your house, on, a house that's anywhere from 600 to $850,000 up in this part of McKinney is going to be well north of that. It's going to be north of $4,000 a month.
Even Mayor Fuller acknowledged this pricing reality.
‟For the record, I love the idea of for sale product for our young kids, but an average price of almost 600,000, that seems to be a hard thing to deliver in today's market.
U/ Infrastructure
Construction Phasing & Infrastructure
As with most projects of this scale, initial phases will focus on substantial infrastructure work including roads, water, sewer, and floodplain reclamation. This front-loading of horizontal development costs will require significant capital before vertical construction begins.
‟The first phase of a project of this scale is unexciting. It is infrastructure, and it's a lot of it. It's roads, it's water, it's sewer. There's some floodplain reclamation... Then we see Tract I and Tract III coming along first.
The developer anticipates Tracts I and III moving forward first in the development sequence.
Financial Metrics
The development presents compelling valuation metrics:
Per-unit apartment values: $170,000-300,000
Total multifamily value at stabilization: approximately $500 million
Fiscal benefit to city: $715,077
Municipal Process & Regulatory Considerations
The rezoning from commercial-only PD to mixed-use PD demonstrates McKinney's growing acceptance of urban-style mixed-use formats. Notably, Mayor Fuller referenced pending state legislation that would allow multifamily by right on commercial property. The PD zoning provides McKinney regulatory control over architectural standards that might soon be impossible under state law.
‟Just as a side note, there's a bill that's gaining traction right now down in Austin that would, if it passes, would allow multifamily to be built on commercial property, period. So right now, I think in terms of also to some extent playing defense, we have a PD here, which we can we're able to build in architectural standards that outside of PD, we don't have any ability to regulate architectural standards.
Amenity Program
The development substantially exceeds McKinney's typical amenity requirements:
Tract I: 10 amenities (vs. typical 5)
Tract II: 8 amenities (vs. typical 4)
Tract III: 10 amenities
Tract IV: 12 amenities
Site-wide amenities include 258,000 SF of parks/open space and 5,650 linear feet of trails.
Council & Community Considerations
The project faced expected tension between housing type preferences and market realities. Mayor Pro Tem Charlie Philips expressed concern about adding more rental product, stating his philosophical opposition to "stealing the American dream from our younger generations."
‟It's not that I hate multifamily. It's just–I hate stealing the American dream from our younger generations. So please do not take my vote against this project [as] something against the good work that you're doing.
Philips also expressed concerns about timing of commercial development and lack of committed tenants, repeatedly asking, "When are the commercial projects going to begin timewise?" and "What businesses are currently committed to this project and to lease or build space in your commercial areas?" After receiving no firm commitments, he expressed skepticism.
‟So you're telling me that you want to build nearly 2,000 apartments on the chance that somebody's going to want to build commercial out there?
He also worried about affordability of the proposed brownstone rentals when told they would cost $2,500-$3,200 per month, responding, "Sounds like a bargain. Which one are you going to move into?"
However, the highway-adjacent location and commercial integration requirements ultimately outweighed these concerns for most Council members.
Council Member Feltus noted the symbiotic relationship between multifamily density and retail success, citing a nearby development that struggled due to insufficient residential support. District 2 Council Member Patrick Cloutier captured the economic reality.
‟We're not going to get commercial like this—on reclamation of 500-year floodplain—unless we get the multifamily. These are good products. What I hope they do is scare away the drive-by apartment builders who come in here and put up the four-story stick crap with nothing, and will suck up the demand. I think this is a great thing for a hard corner of two major highways in McKinney.
George Fuller, Mayor: Expressed support for the tax value and development approach, commenting on the expected property value.
‟So you're talking about half a billion dollars just in that product alone on this 80 odd acres.
In the end, Council approved the deal 6-1 with Mayor Pro Tem Philips in opposition.
This deal represents the continuing evolution of suburban mixed-use development in North Texas - balancing community aspirations for ownership housing with the market realities of affordability and location. The sequencing requirements, if enforced, should ensure delivery of a genuine mixed-use product.
Planning & Zoning 3/11/25
PD C → PD MU | Approved
The Wilson 155 Mixed-Use Rezone, also known as McKinney Northgate Long Branch, is a substantial land use change at the future junction of US-75 and US-380 in McKinney. At 146 acres with 1,756 residential units and approximately 470,000 square feet of commercial space, this development ranks among the larger mixed-use projects approved in Collin County in recent years.
Investor Vaulter and Developer Creation Equity secured P&Z approval to rezone a commercial-only PD to a comprehensive mixed-use PD featuring four distinct development tracts. The residential program encompasses 321 traditional multifamily units (4-6 stories) in Tract I, 185 brownstone-style units (2-3 stories) in Tract II, and approximately 1,250 urban multifamily units distributed between Tracts III and IV. The brownstone product offers a distinctive housing option - structured similarly to townhomes but allowing multiple units per lot with direct ground-floor access.
Tract I (10.7 acres) NWC of Laud Howell Pkwy & Trinity Falls Pkwy
Traditional multifamily residential with up to 321 dwelling units
Development standards similar to "MF30" Multifamily Residential District
4-6 stories in height with a build-to-zone of 0-20 feet
Requires a minimum of 10 residential amenities (standard is 5)
Tract II (18 acres) SWC of Laud Howell Pkwy & Trinity Falls Pkwy
Brownstone-style multifamily with up to 185 units
80% of buildings will have 5-8 units per building with independent ground-floor entries
2-3 stories in height with rear-entry garages
Two enclosed parking spaces per unit
Requires a minimum of 8 residential amenities
Tract III (14.6 acres) N of Laud Howell Pkwy
Urban multifamily and commercial mixed-use development
Limited to 475 residential units
Approximately 8.9 acres reserved for non-residential development
Requirements include:
1.6 parking spaces per unit with 90% in structured parking
4-6 stories in height
Build-to-zone of 0-20 feet
Minimum 10 multifamily amenities
Before any residential permits can be issued, at least 20,000 SF of non-residential construction must be underway
Tract IV (28.3 acres) S of Laud Howell Pkwy
Urban multifamily and commercial mixed-use development
775 residential units
Approximately 15.85 acres reserved for non-residential development
Similar requirements to Tract III with 12 multifamily amenities required
Two-tier development requirement:
20,000 SF of commercial space must be under construction before the first 400 residential units
40,000 SF of commercial space required before remaining residential units
Tommy Mann, the attorney representing the development team, gave insight into the phasing strategy:
‟Realistically, what we think will be first is a combination of Tracts I and III. We've had a lot of interest from grocers already, and we're confident that once they see the critical mass is in motion, they're going to like that site.
Mann positioned the highest-value commercial components as later phases after the site has been established.
‟Tract IV is really the centerpiece in the long-term vision where we can create the office corporate relocation type opportunities and hotel.
On timeline expectations, Mann was candid:
‟It's hard to give you a precise timeline that we're going to be done in 7 years and 2 months on a project at this scale, but think in terms of 6 to 8, maybe 10 years till you see substantial development like this across all of the tracts on a project of this scale.
A defining characteristic of this zoning case is the commercial development sequencing requirement. The developer must have 20,000 square feet of commercial under construction in Tract III before any multifamily permits can be issued. Similarly, Tract IV requires 20,000 square feet of commercial for the first 400 multifamily units and an additional 40,000 square feet for the remaining units. Approximately 25 acres are specifically designated for commercial uses, positioned along the US-75 frontage to create a buffer between highway traffic and residential areas.
The multifamily parking ratios vary by product type: 1.75 spaces per unit for traditional multifamily, 2.0 enclosed spaces per unit for brownstones, and 1.6 spaces per unit for urban multifamily (with 90% required in structures). These structured parking requirements enable the urban density of 65 units per acre in the mixed-use portions while managing vehicle accommodation.
The Planning & Zoning Commission unanimously approved the project with considerable praise. Commissioners Jesserend Conrad and James Craig III complimented the development team on their comprehensive approach to masterplanning the 146 acres, noting their level of "detail," "thought," and "intentionality."
‟First and foremost you guys in my opinion, done a heck of a job, really thought through anything and everything for it to be this early in the process, for you to have this much detail and thought laid out is impressive.
With a fiscal impact analysis showing a $715,077 positive benefit to the city and alignment with McKinney's comprehensive plan designation for the Honey Creek District, the project has secured both staff and commission support without generating community opposition.
The deal is presented entirely as a market-rate development across all four tracts and all housing types (traditional multifamily, brownstone-style, and urban multifamily). The staff report describes the development's fiscal benefit to the city but makes no mention of housing affordability elements.
‟This is a really interesting project, and we want this to be an example. We think this is an awesome product type for renters that just aren't quite ready for a down payment, but they want to live in McKinney. They're ready for more of a single-family type of lifestyle. They're going to stay in McKinney. They just need a little bit of time to accumulate that nest egg. And this type of product, we think, provides that.
The 6-10 year buildout timeline reflects the magnitude of the project, with initial phases focusing on traditional multifamily and grocery-anchored retail components.
Developer: Creation Equity, Alex Bez Phone: (602) 600-6363 Email: [email protected] LinkedIn
Attorney: Winstead, Tommy Mann Phone: (214) 745-5724 Email: [email protected] LinkedIn
Staff Report: Wilson 155 Mixed-Use Rezone
Project Plans: Wilson 155 Mixed-Use Rezone Plan
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