Lake Forest Senior Living Lands $63M Permit in McKinney

A building permit valued at $63 million has been issued for Lake Forest Senior Living, a 222-unit affordable housing project at 4656 W. University Drive in McKinney, near the northeast corner of Lake Forest Drive and US 380. The development totals 247,383 square feet. Storm Guard Franchise Systems is developing, with design by Able City. Kayasa Holdings LLC is the owner of record.

All 222 units are rent-restricted for residents 55 and older, serving households making between 30% and 80% of the area median income. Units span three buildings: one with 72 units plus retail and clubhouse space, and two identical 75-unit buildings. The project includes 7,853 square feet of commercial space planned for medical offices, restaurants, retail, or offices.

The site plan adds a clubhouse, four garage buildings, and one maintenance building.

McKinney City Council unanimously approved the rezoning May 19, 2026, when the project was presented as Forest View Senior Housing. TDLR registration followed September 15, 2026. Construction is set to begin March 1, 2027, with completion November 1, 2028. The estimated cost works out to roughly $255 per square foot.