Thursday, March 12, 2015

Dallas' Catalyst gets $21M for new luxury McKinney Urban Village project

McKinney Urban Village copy

One of North Texas' community-oriented developers — Dallas-based Catalyst Urban Development — has secured nearly $21 million in construction financing for the initial phase of McKinney Urban Village.

The $30 million mixed-use and health science district in McKinney initially will feature a proposed 240-apartment luxury community adjacent to the Medical Center of McKinney near U.S. 75 and State Highway 121.

The community's proposed amenities include a clubhouse, fitness center, dog park, resort-style pool terrace, yoga lawn, community garden and walking trails.

JLL's Jason Piering and Adam Mengacci led the team to secure the financing from Comerica, which provided the five-year, floating-rate loan.

There are a number of new luxury apartment communities coming to North Texas. Last year, Catalyst Urban Development developed the award-winning $30 million Lancaster Village, which brought more housing to southern Dallas.

Candace Carlisle, Dallas Business Journal