In a video posted Wednesday by the City of McKinney, City Manager Jason Gray discusses the Gateway project, located at the northeast intersection of U.S. 75 and Sam Rayburn Tollway. In the short video, he says that the Sheraton McKinney Hotel and Conference Center, commonly referred to as the Gateway Hotel, is “back under way, back under construction.”
He also touches on the surrounding 67 undeveloped acres at the Gateway site. In the last few weeks, the McKinney City Council heard design proposals and reviewed potential land plans from two developers. Gray says that the city and the McKinney Economic Development Corporation, which owns the Gateway land, have submitted requests for formal proposals from both developers, Lincoln Properties and Wallace and Bajjali Dev. Partner, LP.
Once the proposals have been received, the city and the MEDC will choose a developer and begin a negotiation process that could “take months” as financial and design details are hammered out.
Gray says of the Gateway site, “There is the potential there for that to be a fantastic, signature corner for the community and for the region.”
Some other highlights –
- Gray says the Gateway area is a “diamond in the rough” and one of the city’s best corners for commercial development.
- Gray says the artist renderings of the Gateway development are not necessarily representative of what the development may become.
- Gray says that the area may go through “50 design iterations before anything is built.”
- Gray says that the Mayor and council have been very careful in the development plans so that Gateway doesn’t end up “cannibalizing” downtown businesses or any other corporate development in the city.
You can watch the entire video above.