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$35.9 Million Development To Double Affordable Housing In McKinney, Texas

Construction is expected to begin in August 2023
Photo: Julie Marshall | Shutterstock

Collin County continues to get more expensive — and McKinney, Texas is no exception. No wonder many are struggling to find affordable housing. The McKinney Housing Authority has a solution: McKinney's Lloyd Owens and Cockrell homes will be redeveloped for low-income residents.

According to The Dallas Morning News, the initiative aims to increase the number of affordable housing units available to low-income residents. Upon completion, the project is expected to nearly double the current housing capacity, providing a vital resource for those in need.

As part of the ongoing initiative that began a decade ago, the residents of McKinney Housing Authority and its board of commissioners have been working towards revitalizing the city's 201 public housing units. 

Over the years, two out of the four sites have already been successfully redeveloped. The current project aims to complete the revitalization process by addressing the remaining two sites. Once finalized, this endeavor will result in 46 new affordable housing units within the city. The comprehensive revitalization of all four properties will significantly increase the city's housing capacity, expanding from the initial 201 units to 412. 

Under the name Remnant at Greenwood, LP, the project will create 96 affordable housing units. These units will be divided into two locations: 50 units will be built at the Remnant at Greenwood II on the Lloyd Owens site, while the remaining 46 units will be constructed at the Remnant at Greenwood I on the Cockrell site. 

According to The Dallas Morning News, the housing units will be equipped with vinyl plank flooring, modern amenities, Smart Home features, and energy-efficient attributes. The features contributed to reducing residents' monthly utility costs to an estimated range of $20 to $60 per unit in similar projects.

The McKinney Housing Authority explained that public housing is specifically designated for low-income families and individuals. Eligibility for public housing is determined by the Housing Authority (HA) based on several factors. These include your annual gross income, whether you meet the criteria for being elderly, a person with a disability, or a family, as well as your U.S. citizenship or eligible immigration status. Once deemed eligible, the HA will verify your references to ensure that you and your family will be responsible and suitable tenants.

According to a filing with the city, the initial proposal was passed on December 14, 2022. The project is currently estimated to be finalized in July, and construction is expected to begin in August 2023. The project is estimated to take 32 months.

To check if you are eligible for low-income housing visit the link here