Zoned Build-to-Rent Development Site 13.775+/- Acres | Princeton, TX

Highlights:

• Approximately 1.5 miles west of the Site is Princeton’s main retail center, with national brands such as Walmart, Chipotle, Starbucks, and Popeyes amongst others. The Site is accessible via Cole Street, which connects to US 380.
• Princeton Middle School and High School are located approximately a quarter mile north of the Site. Princeton ISD is rated A- on Niche.com, offering excellent educational opportunities for families.
• The Site’s proximity to US 380 offers rapid access to McKinney which is home to numerous major employers.
• The Site is part of PD-13 and the base zoning is MF-2. The Site is limited to 156 developable units per the PD.
• There is currently a preliminary plat in place for 142 units, however per Seller density can be increased to 156 units with City approval by reconfiguring the site plan. Please see Due Diligence Vault for additional information.
• The Seller will convey at closing the building plans which are near completion for a 142-unit BTR-style product pending final City approval.
• Per the Seller, the Site is exempt from the current building moratorium that restricts new housing in Princeton.
• Princeton is a rapidly growing city in DFW, with a population growth of 13.7% last year (2024-2025).
• According to the City of Princeton, the average household income is a robust $107,221.
• The average home price in Princeton was $362,313, up from $275,200 in 2024.

Description:

Vanguard Real Estate Advisors (“VREA”) has been exclusively retained to offer the opportunity to purchase a 13.775+/- acre zoned build-to-rent development Site along Cole Street and East Hazelwood Street (County Road 456) in Princeton, TX (“the Site”). Currently in-place is a preliminary plat for 142 cottage style units. However, the Site can potentially accommodate up to 156 units per the base zoning.

The Site is already zoned MF-2 through PD-13 and the Seller has near completed construction plans for the project that will be conveyed at Closing. Additionally, the Seller has indicated that this property is exempt from the city-wide development moratorium. This well located Site is a great opportunity to acquire a development parcel at an attractive price of only $7.25 per square foot.

To gain access to the Due Diligence Vault click on the link below:
https://docsend.com/view/s/7qaettab5c49rwyg


A 1.5% co-broker fee is available to a Broker that sources a Principal that VREA has not previously contacted in any format or sent information to regarding this opportunity; a third party broker must register their client upon initial contact with VREA.

Documents: