An innovative housing concept will soon come to McKinney.
Avilla Northside, a multifamily residential development, will feature nearly 120 luxury rental homes with one-, two- and three-bedroom floor plans. Construction on the project, to be located on the northeast corner of Community and White avenues, is set to begin later this year.
The project’s developer, NexMetro Communities, expects about a 12-month timeline for construction.
Pricing for the standalone homes will be “commensurate with other higher-end multifamily residences,” said Jon Van De Voorde, vice president and general manager for NexMetro’s Texas market. Single-bedroom homes will cost about $1,000 per month, and two-bedroom units will price at around $1,670.
What’s different about Avilla Homes? Rather than a series of multifamily buildings with several units within each, this concept features low-profile structures that look more like a single-family residence or duplex.
The freestanding homes will have 10-foot-tall ceilings, rear yards and modern appliances. A community manager will oversee the development and facilitate “the next generation of maintenance-free living,” Van De Voorde said.
Single-bedroom homes will make up roughly a quarter of the McKinney development. Based out of Phoenix, NexMetro is also building Avilla Premier in central Plano. That 122-site community is set to open to the public in October.
The developer has similar projects going in Denver, and it plans to expand its North Texas market by 500 to 600 units a year, according to Van De Voorde. “We have a pretty aggressive growth plan.”
NexMetro representatives first reached out to McKinney city staff in January 2014, when they narrowed their interest to a number of potential sites. The city did not offer any economic incentives for Avilla Northside, according to Michael Quint, executive director of development services.
Quint said Avilla Northside will have the same impact as any multifamily community: It will bring in ad valorem tax revenue and will further add to residential options in the city.
“McKinney’s housing market is further diversified by offering a different multifamily residential format than is typically found throughout the community,” he said.
Van De Voorde said Avilla Northside is slanted toward two ends of the market spectrum – it will likely attract Millennials (namely couples and “hipsters”) and seniors/pre-seniors.
NexMetro is already working with city staff on developments for elsewhere in the city.
“We would love to have more in McKinney,” Van De Voorde said.