1513 Longneck Rd, Princeton, TX 75407

FULLY PLANNED 480-UNIT MULTIFAMILY SITE IN PRINCETON, TX

Princeton Landing is a 20.9-acre multifamily development site approved for 480 units of garden-style development with in place PD zoning designation and DA. Full architectural and engineering plans convey with the sale. Building permits have lapsed, but all other entitlements remain in place. The site is structured for two-phase delivery and carries a total property tax rate of 1.88%. Electrical service confirmed available through TNMP; utility contribution expected to cover full extension cost at current density.

PRINCETON SLATED FOR CONTINUED GROWTH

Princeton was the fastest-growing city in the United States in 2024, with population expanding from approximately 28,000 to 37,000 in a single year, a 30.6% growth rate, according to U.S. Census Bureau estimates. Population within a 3-mile radius of the site grew at 14.7% annually from 2020 to 2025 and is projected to continue growing through 2030. The city’s residential building moratorium, lifted November 30, 2025, had paused new permitting while infrastructure investment caught up with demand. Princeton Town Center, a 420,000 SF retail development anchored by Kroger and Home Depot at US-380 and Beauchamp Blvd, broke ground in late 2025 and sits 1.6 miles from the site, with first store openings targeted for late 2027.

STRONG DEMOGRAPHICS AND WELL-REGARDED SCHOOLS

Average household income within a 3-mile radius is $108,506. The site falls within Princeton ISD, rated B (81/100) by the Texas Education Agency with a 16:1 student-to-teacher ratio. The site fronts Longneck Road with 500 feet of frontage and good visibility from the road. Major employers within the Collin County corridor include Toyota (Plano), Texas Instruments (Richardson/Dallas), Raytheon (McKinney), Baylor Scott & White Medical Center (McKinney), and Encore Wire (McKinney).