Contractors broke ground on McKinney National Airport’s commercial passenger service terminal. The 46,600-square-foot terminal is expected to open in 2026. The town still needs to secure a commercial carrier for the new terminal.
Community Impact reports the facility will include four gates, with the option to expand to six gates in the future. Initially, the terminal is expected to serve 200,000 passengers a year, but expanding the gates could support more than one million travelers each year.
Construction costs approved by council members in May total about $61.36 million. The contracts are funded by various sources, including sales tax revenue bonds provided by the McKinney Economic Development Corporation and funds from the city’s Tax Increment Reinvestment Zone No. 2.
The city received a $14.8 million grant from the Texas Department of Transportation. That money will be used for infrastructure projects that support commercial passenger service at the airport. The terminal and its support facilities are expected to cost $79 million in total.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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