March 25, 2010
Dallas, Texas - McFarlin Group, a Dallas based developer, owner and operator serving the seniors housing market, announced its receipt of a Firm Commitment from HUD to develop a state-of-the art, 97-unit senior apartment and assisted retirement community in McKinney, Texas.McFarlin's ability to successfully navigate the HUD 232 LEAN program and secure financing for new construction is a significant milestone in today's economy and illustrates McFarlin's extensive knowledge and experience in senior living development.
The new senior living community will be located on an approximate 7 acre site near US-75 and Eldorado on Medical Center Drive in McKinney. The new senior community will accomodate 101 residences in a first phase. The approximate total project cost is $14.5 million and construciton is planned to commence in May 2010.