A prominent North Texas developer is working to bring another sprawling community to an 1,800-acre site in northern McKinney.
as a potential second headquarters location that same year, but the e-commerce giant ultimately settled on Arlington, Va.
Republic Property Group hopes to form a municipal management district for the site. The financing tool is similar to a public improvement district, which finances infrastructure, services and neighborhood amenities through assessments and taxes. But unlike a public improvement district, municipal management districts are primarily controlled by a district board rather than the city.
The McKinney City Council gave its support for the financing district Dec. 20. Republic Property Group plans to submit a bill during the current legislative session, as the Texas Legislature is responsible for creating such districts. Republic Property also plans to pursue a development agreement with McKinney that would annex portions of the property that are not already annexed and zone it for the proposed uses.
Wagner told the council that the majority of the property is still zoned under a zoning code from the 1980s. Currently, “you have a hodgepodge of a land-use framework that would be challenging to use to create a cohesive place,” he said. The new agreement, according to Wagner, “would allow us to have a very wide variety of product offerings and really approach housing affordability and attainability, which is a continuing challenge in this market.”
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