McKinney car fans will have a new place to store their expensive cars and boats next summer.

This building called Elite Garages of McKinney is going up at the southwest corner of Hardin Boulevard and Virginia Parkway.

The $20 million building will have 63 private garages that are between 1,300 and 1,400 square feet each. You can change how the spaces look, and they start at $2,500 a month to rent and $375,000 to buy.

The project is being planned by Platinum Advisors LLC in Scottsdale and built by LGE Design Build in Dallas. An announcement made on October 22 said that the building would be done by the summer of 2025.

It’s a big real estate project, and it’s also another sign that the suburbs far north of Dallas are becoming more wealthy.

Along with storage units, the building will have a clubhouse for members only, complete with a kitchen, showers, meeting rooms, and conference rooms.

“The need for safe, high-end storage is growing,” said Jim Riggs, founder and developer of Elite Garages of McKinney. “This is especially true for RV and car collectors who need more space than a typical home garage can offer.”

The U.S. Census Bureau says that there are about 215,000 people living in McKinney and that the median household income is $113,286.

Globe Life, Independent Financial, Encore Wire, SRS Distribution, and RTX (formerly Raytheon) are some well-known companies that hire people.

Collin County’s seat is McKinney. The county has seen a population boom in recent years, in part because of good schools and other amenities that make life better for residents.

A 20,000-seat amphitheater that could host big-name concerts is another big project coming to McKinney. Craig Ranch is one of the large neighborhoods in the area.

The annual CJ Cup Byron Nelson golf tournament is held at the TPC Craig Ranch course.

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