McKinney, Texas, is set to add a $200 million mixed-use development featuring a surf lagoon and resort-style hotel. The project will be located at the northeast corner of Stacy Road and SH 121 on a 35-acre tract owned by the McKinney Economic Development Corporation. Developer Cole Cannon expressed excitement, saying, "We cannot be more excited to bring a beach paradise to McKinney, whose leadership shares our unparalleled vision for a world-class, family-friendly destination that will quite literally bring the ocean to its backyard," in the Community Impact report.
The ambitious Cannon Beach project is projected to draw upwards of 300,000 visitors annually. Along with the resort hotel, residents and tourists can look forward to a slew of entertainment and retail spaces, which features among others, promises cliff-diving and a stationary surf wave. McKinney Mayor George Fuller said in a statement obtained by Community Impact, "It provides a super cool amenity for our own residents and the opportunity to experience something that would be otherwise very, very expensive to experience.”
In addition to the lagoon, the Cannon Beach project will encompass a multitude of attractions, including a skate park, movie theater, bowling alley, health club, and various indoor recreational facilities, as per CHRON. The surf lagoon will reportedly cover roughly 4 acres and is expected to be surrounded by a full-service resort-style hotel offering amenities such as a rooftop pool, wedding, and event spaces. The Cannon Beach project also includes lounging areas and cabanas with food service that will connect to the surf lagoon, as outlined by the development plans.
There is a substantial economic outlook associated with this development. The McKinney Economic Development Corporation anticipates that the new addition will generate a staggering $2 billion in economic impact over the span of 20 years and is also expected to create around 700 local jobs. "It's a world class facility that is tremendously unique. It will bring people from outside our city here to spend tax dollars in our community,” Fuller stated as found in the Community Impact report.
As detailed by the Community Impact, the first phase of the $200 million project is expected to open by 2026. Before construction begins, city leaders and developers will negotiate incentives, such as infrastructure assistance, land acquisition, and tax rebates. "We have very specific metrics that we use to measure the net benefit ,and every project that we analyze and we consider partnering with, and creating any sort of public-private partnership, has to meet the criteria of being a significant net gain for the community," said Fuller in plans shared with the McKinney Economic Development Corporation. An update on the project is expected early next year.
