DALLAS — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here . Next summer, car enthusiasts in McKinney will have a new place to store their luxury vehicles and boats.
Elite Garages of McKinney is rising at the southwest corner of Virginia Parkway and Hardin Boulevard. The $20 million facility will feature 63 private garages, ranging from 1,300 to 1,400 square feet. Spaces are customizable, with prices starting at $2,500 per month to rent and $375,000 to buy.
The project is being developed by Scottsdale-based Platinum Advisors LLC and built by Dallas-based LGE Design Build. Construction is expected to finish by the summer of 2025, according to an Oct. 22 announcement.
In addition to being a significant real estate project, it's another sign of the rising affluence in the suburbs far north of Dallas. In addition to storage units, the facility will include a members-only clubhouse equipped with a kitchen, showers, meeting space and conference rooms. "The demand for secure, high-end storage options is growing, particularly among car collectors and RV owners who need more space than a typical residential garage can provide," said Jim Riggs, developer and founder of Elite Garages of McKinney.
McKinney has an estimated population of about 215,000 and a median household income of $113,286, according to U.S. Census Bureau data.
Notable employers include Globe Life, Independent Financial, Encore Wire, S.