Jump to: site navigation, content.

Thursday, October 16, 2008

Construction on McKinney’s Bridge Street Town Centre stopped

By Rodney Williams of McKinneyNews.net

Email Print Tell us your story Comment (1)

Artist's rendition of Bridge Street Town Centre

Multiple sources familiar with the situation have verified for McKinneyNews.net that construction has been halted on the Bridge Street Town Centre project at Hwys. 75/121.

The move comes on the heels of a letter sent by O&S Holdings to Beck Construction, the construction firm handling the $71 million dollar project. The letter, received Friday, told the construction firm to cease work immediately.

The reasons for O&S - the development company for the project - deciding to halt the project are not clear. Those familiar with the situation have cited multiple factors involved in O&S’s decision, among them the lack of permanent funding (no bank has yet agreed to finance the project) and an ever-changing economy.

What isn’t known is how much a request for $5 million to the City for the project plays into all of this. O&S, citing drastically increased construction costs, requested the additional funds at a McKinney Community Development Corporation board meeting on Oct. 7. The request was passed for Oct. 16 when MCDC will hold its Board Retreat at the Holiday Inn & Suites on Craig Dr. It isn’t known whether a decision will be made at this time.

It is doubtful, according to sources, that the funding request had much to do with the move. The lack of permanent financing could have had O&S considering the move before it approached MCDC for extra funding.

It is not known at this time when permanent financing will be acquired or when construction on the project will resume.


Pegasus News content partner - McKinneyNews.net

Related stories

See more stories in:

Comments

alexander troup

alexander troup Verified

It had to happend one day it had to happend here, and now its going to happend all over, what is there to fear, so you get layed off...and then you wait, along comes a peice of good luck to change your fate and so you change, and that is what this years economey has been about, the things we want to build and the things we cant afford to live in sorry McKinney maybe next year, until then Alex Troup, Christian developer.

1 year ago ( Link to this comment | Suggest removal )

Post a comment

(Requires free PegasusNews.com account.)


(Forgotten your password?)

:

:

Find...

an event a Pegasus Pick
a restaurant a garage sale
a drink special a movie showtime
local music an organization
a job a political contribution
a house a deal
a pet photos

Add...

an event a garage sale
a lost pet a band
a story a photo

Today

Candlelight Vigil for Soldiers at Fort Hood Just a day before Veteran's Day, UT-Arlington students remember the soldiers wounded and killed at Fort Hood on Thursday. The public is invited to share this somber event with students. More info

Blogs

See more

Latest comments

See more recent comments

Latest reviews

  • Colby Walton on Si Tapas and Spanish Cuisine: Just visited this place for the first time, and found the quality of the food, the service, the atmo...
  • cindyallentx on India West Fine Dining & Lounge: I went to this restaurant last friday had a wonderful experience. Love the low light romantic feel o...
  • jognmcdermott on India West Fine Dining & Lounge: This place has it all good food sweet service. I proposed to my fiance here it was perfect! we loved...

See more recent reviews


Quantcast