Multifamily or Industrial Development Opportunity
Multifamily or Industrial Development Opportunity
Marketing description
Positioned at the northeast quadrant of State Highway 5 and Wilmeth Road, this ±12.57-acre development opportunity offers investors and developers a highly flexible site in the path of continued growth in McKinney. The property is currently zoned PD: RG-18 and is planned for 232 surface-parked multifamily units, creating an immediate opportunity for residential development. Additionally, recent legislative changes under SB 840 may allow for up to four-story multifamily construction and increased density, further enhancing the site’s development potential.
Beyond multifamily, the property presents a compelling long-term repositioning opportunity as surrounding industrial and commercial growth continues to expand throughout the SH 5 corridor. With the planned reconstruction of SH 5 into a four-lane divided roadway beginning in mid-2028, the site is well-positioned to benefit from improved accessibility, visibility, and traffic flow. Utilities are available to the site, approximately ±9.88 acres are usable, and the property is located within McKinney Independent School District with a favorable tax rate of approximately 1.75%.
This offering presents a rare opportunity to capitalize on both current multifamily entitlements and future redevelopment flexibility in one of North Texas’ fastest-growing markets.
Investment highlights
±12.57 Acre Development Opportunity at the northeast quadrant of State Highway 5 and Wilmeth Road in one of the fastest-growing corridors in McKinney
Currently Zoned PD: RG-18 allowing for multifamily and single-family/townhome development
Approved Site Plan for 232 Surface-Parked Multifamily Units providing a near-term residential development opportunity
Potential for Increased Density Under SB 840, which may allow for up to four-story multifamily construction and enhanced unit yield
Flexible Redevelopment Potential with the ability to pursue a rezone to industrial use amid growing surrounding industrial and employment expansion
Strategically Positioned Along Planned SH 5 Reconstruction, with future improvements including a four-lane divided roadway scheduled to begin mid-2028
Strong Long-Term Growth Corridor benefiting from continued residential, commercial, and industrial development activity throughout north McKinney
±9.88 Usable Acres with utilities available to the site
Located Within McKinney ISD
Low Tax Rate of Approximately 1.75%
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