McKinney is moving ahead on a downtown redevelopment initiative that will add offices, restaurants, a hotel and event space. M2G Ventures will be the town’s development partner. Community Impact report city staff will work to negotiate a term sheet with M2G for the redevelopment of city-owned land downtown.

The development program features new structure on five city blocks, including:

—A mixed-use block with commercial development such as restaurants and offices that could be as many a five stories tall

—A six-story hotel with event and commercial space

—A five-story multifamily building with an integrated parking garage

The development program also includes the development of a public parking garage with 250 parking spaces on a site just north of downtown

Since its inception, M2G Ventures has acquired more than 4.5 million square feet of property, ranging from adaptive reuse, mid-century warehouses, and complete building transformations to redevelopments of historic buildings and large-scale Class A industrial developments.