Presidium, a real estate development, investment and management group, announced that the city of McKinney granted conditional approval for the site plan of the Presidium Cotton Mill mixed-use development.
According to the city of McKinney, the development is set to cover around 28 acres, showcasing approximately 200,000 square feet of Class-A office space and over 1.2 million square feet dedicated to multifamily residences.
Comprising four multifamily buildings ranging from five to seven stories, the project aims to deliver around 1,200 apartment units over the next six years. Each multifamily building will provide over 9,000 square feet of amenity space, offering residents a variety of luxurious features such as a beach entry pool, grilling stations, state-of-the-art fitness centers, co-working spaces, game rooms, lounge areas and more. The design also incorporates 27 townhome-style artist lofts, enhancing the aesthetic appeal along the southern border of the development.
Presidium estimated that the city of McKinney will see a total economic impact of $933 million and a tax revenue generation of $38 million.
“The Cotton Mill plan offers a catalytic opportunity for McKinney,” Project Planner with Sasaki Associates Martin Zogran said. “It promises to be a place that honors the historic roots of the site and its storied past while embracing its current role as a dynamic arts hub. The plan will bring new residents and a host of amenities from local performance areas, to family-friendly cafes and eateries. It will be a year-round draw for locals and out-of-town visitors alike.”
The Cotton Mill holds historical significance as a distinctive facility that provides loft office space, a stunning event hall and an ideal setting for photography shoots. Preserving the industrial equipment and distinctive features that once positioned it as the world's largest denim manufacturer, the venue remains a singular destination for weddings, parties and corporate events.
“The Cotton Mill and Presidium’s shared vision of bringing this 113-year-old district back to its former glory starts with bringing the right amount of density to drive it,” Cotton Mill Manager Chandler Casey previously said. “The seven stories of multifamily will bring the population to create a thriving district for all ages and cultures.”
