Liv Development is moving forward with plans for a new apartment complex in McKinney, Texas. The Birmingham-based company has filed documents with the state estimating the 205-unit project, called Livano McKinney, will cost about $40 million. This works out to roughly $195,000 per unit. Construction is scheduled to begin in December and finish by late July 2027.
The development will be located at the intersection of Alma Road and Silverado Trail, covering 302,000 square feet. It will offer both apartments and townhomes arranged around a clubhouse. The site sits approximately eight miles from downtown McKinney, a suburb north of Dallas that has seen its population rise nearly 10 percent since 2020 to reach 227,000 residents.
Recent trends show that multifamily construction in North Texas has slowed significantly as higher interest rates have pushed up development costs and a large number of new units on the market have caused rental rates and occupancy levels to drop. In Dallas-Fort Worth, rents fell by 1.5 percent over the year ending in May according to Yardi Matrix data (https://www.yardimatrix.com/). The region’s occupancy rate was recorded at 92.6 percent, ranking it third-lowest among the country’s thirty largest cities.
Some industry analysts believe this slowdown could help stabilize the market and lead to rising rents either later this year or next year. Developers like Liv Development are planning their project timelines around these forecasts.
Robb Crumpton founded Liv Development—originally named Red Mountain Development—in 2006. The firm already owns three other apartment complexes in Texas: Livano Kemah in Galveston County; Livano Pflugerville; and Livano Prosper.
