Progress on a new downtown for McKinney will have to wait. Community Impact reports M2G Ventures has backed out of a redevelopment venture that would have included commercial projects and parking.

Council members selected M2G Ventures in early 2024 for the project, which involves redeveloping five blocks in downtown McKinney. The scope of the work included: a mixed-use block with commercial development such as restaurants and offices that could be as tall as five stories, a six-story hotel with event and commercial space, a five-story multifamily building with an integrated parking garage and 12 townhomes.

The city council is expected to take up the matter at a future meeting.

On its website, M2G Ventures says that as a Certified Women-Owned Business based in Fort Worth, Texas, it has acquired more than 4.5 million square feet of property since inception, ranging from adaptive reuse, mid-century warehouses, and complete building transformations to redevelopments of historic buildings and large-scale Class A industrial developments.