W. Scott Smith of Davis Development and 7903 Van Tuyl Parkway, McKinney (Parkside at Craig Ranch, Linkedin, Getty)
Davis Development has kept quiet about plans to develop 11 acres at Craig Ranch in McKinney, but a state filing reveals details about its multifamily project.
The company’s first phase of development, at 7903 Van Tuyl Parkway, just north of Sam Rayburn Tollway, will include a 354-unit multifamily complex estimated to cost $61 million, according to a Texas Department of Licensing and Regulation filing. That’s about $172,000 per unit. The filing states construction is set to begin in March and last about two years.
City of McKinney records indicate the development will be called the Van Tuyl Plaza at Craig Ranch. Architectural plans show a fitness center, clubhouse, pool and dog park as part of the planned amenities.
The Georgia-based developer acquired the land last year and has revealed little about the project’s scope since then. It’s been speculated the company plans to build a second apartment building at the site, although plans haven’t been confirmed. City zoning allows for at least 675 units across the 11 acres.
Davis Development didn’t immediately respond to a request for comment. It has major Class-A, multifamily development projects across the Southwest and Texas, including six in Houston, but has yet to confirm specifics. According to a Forbes report, the company’s CEO is 25-year-old billionaire Blake Davis, who inherited the company from his father.
The 2,200-acre Craig Ranch project was started by McKinney developer David Craig in the early 2000s. The community now includes over 4,500 residential units, offices, retail and outdoor amenities.
McKinney, about 30 minutes north of downtown Dallas, is one of the metroplex’s most popular submarkets and currently ranks as Collin County’s third-largest city, after Plano and Frisco. McKinney was the nation’s fastest-growing city from 2000 to 2003 and again in 2006, among cities with more than 50,000 people, according to the U.S. Census Bureau.
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