Liv Development has announced plans for a new apartment project in McKinney, Texas, as the company looks to capitalize on potential rent growth in the multifamily market. The Birmingham-based developer estimates the 205-unit Livano McKinney complex will cost $40 million, or about $195,000 per unit, according to a state filing. Construction is expected to begin in December with completion targeted for the end of July 2027.
The planned 302,000-square-foot development will be located at the intersection of Alma Road and Silverado Trail. It will include apartments and townhomes built around a clubhouse. The site is situated approximately eight miles from downtown McKinney, which has seen its population grow by nearly 10 percent since 2020 to reach about 227,000 residents. This area lies roughly 33 miles north of Dallas.
Apartment construction across North Texas has slowed sharply due to rising interest rates that have increased development costs. A record number of recent apartment deliveries have also led to lower rental rates and declining occupancy levels in the region.
According to Yardi Matrix data, rents in Dallas-Fort Worth fell by 1.5 percent over the year ending in May. The area’s occupancy rate stands at 92.6 percent, ranking it third-lowest among the nation’s thirty largest cities (https://www.yardimatrix.com/). Industry analysts expect that this slowdown in development could help stabilize the market and support rent increases later this year or next. Developers like Liv Development are aiming to complete projects during this anticipated upswing.
Liv Development was founded by Robb Crumpton as Red Mountain Development in 2006. The company already owns three other apartment properties in Texas: Livano Kemah in Galveston County, Livano Pflugerville near Austin, and Livano Prosper north of Dallas.
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