650 S Hwy 5
PRIME CPDD Development Site
Marketing description
±7.4 Acre CPDD Development Site at 650 South State Highway 5, Fairview, Texas 75069 presents a rare opportunity to secure a highly visible corner tract in the heart of the thriving Fairview–McKinney growth corridor. Positioned at South State Highway 5 and Meandering Way, this ±7.4-acre development site offers excellent access to US-75 and SH-121 and is just minutes from Historic Downtown McKinney, Fairview Town Center, major healthcare providers, and premier regional retail.
Zoned CPDD – Urban Transition Sub-District and currently ag-exempt, the property is well suited for a thoughtfully designed assisted living, memory care, or hybrid 55+ senior housing community. The surrounding area features strong senior housing fundamentals, affluent demographics, and a growing 55+ population, creating compelling demand for high-quality, service-oriented residential concepts.
With prime frontage, strong connectivity, and proximity to established neighborhoods, medical uses, and shopping destinations, this site offers the ideal foundation for a standout development in one of Collin County’s most desirable and fast-growing submarkets.
Investment highlights
Strong Senior Housing Fundamentals:
Within the immediate Fairview / Allen / McKinney corridor, assisted living communities are achieving average rents in the low- to mid-$5,000s per month, confirming strong consumer acceptance at this care level.
Market Gap Opportunity:
Existing product in the corridor skews toward full-service assisted living and memory care rather than age-restricted townhomes or “independent plus services” concepts. This creates an opportunity for:
- A boutique, well-amenitized assisted living or memory care community that competes on design quality and integration with nearby retail and medical
- A hybrid 55+ concept (cottages or stacked flats with optional services) bridging conventional multifamily and licensed assisted living
Healthcare & Retail Integration:
Proximity to hospitals, medical offices, churches, and regional shopping strengthens the locational narrative for seniors and their families, supporting premium rental positioning when executed at a high level.
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