Big plans are afoot for McKinney's historic Cotton Mill, as Dallas-based Presidium sets its sights on turning the heritage site into a bustling mixed-use development that promises to mesh the past with the present. The firm is looking to break ground on over 1,200 rental units and 200,000 square feet of office real estate, ensuring the legacy of the 113-year-old mill is not just preserved but reinvigorated, as reported by The Dallas Morning News.
The sprawling plans include not only residential and commercial spaces but also incorporate public areas into the 28-acre site, which received preliminary nods from city of McKinney officials. The Presidium is keen to lay the groundwork for what they believe will be a catalytic chapter in the city's history. The estimated economic impact of the development is a whopping $933 million, a figure that's not to be sniffed at.
Described as a "year-round draw for locals and out-of-town visitors alike," the ambitious project is outlined to feature pools, fitness centers, coworking spaces, game rooms, and artist lofts, tilting McKinney towards becoming a cultural and residential hot spot, according to The Real Deal. "We look forward to honoring the Cotton Mill's legacy while laying the foundation for McKinney’s vibrant future," Josh Eames of Presidium stated, per The Dallas Morning News.
This isn't Presidium’s first rodeo with large-scale developments. Showcasing their penchant for ambitious urban transformations, the firm has been at the helm of a multitude of projects in Texas, including the $4 billion, 109-acre mixed-use development in East Austin known as River Park. The McKinney venture, however, places the Cotton Mill, which is already serving as an events venue and an arts hub, as its crown jewel. Martin Zogran of Sasaki Associates believes the plan promises to compliment the historic roots of the site, thereby enriching the local cultural landscape.
The timelines are set for the first phase of construction on the apartment buildings, ranging from five to seven stories, scheduled to roll out by mid-2024. Project planner Martin Zogran said, "The plan will bring new residents and a host of amenities from local performance areas to family-friendly cafes and eateries." When fully completed by 2030, McKinney could well see an influx of new energy and economic prosperity seeded by the nostalgic charm of its very own Cotton Mill, according to The Dallas Morning News.