297-Acre Development Slated for Princeton
A small town in Collin County will soon be home to a large mixed-use development featuring residential, commercial and retail uses. Princeton, a city of just under 40,000 residents located east of McKinney, will be the site of Princeton Crossroads, a 297-acre project anchored by the town’s city hall. Plans call for a city park, a commercial and retail center, an apartment development, single-family homes and townhomes.
It will all be located on an undeveloped commercial tract along the north and south sides of U.S. Highway 380.
“Princeton Crossroads effectively becomes the new town center for Princeton,” Chris Burrow, founding partner and CEO of Range Realty Advisors, said in a prepared statement. Range is marketing the project.
The commercial and retail center, to be called Fireside Square, is being developed by Phoenix-based Brown Group. Brown and the Weitzman Group, which is representing the developer in retail leasing, pad site sales and medical site sales, is already in discussions with grocers, home improvement companies and entertainment concepts to fill the project.
LGI Homes will also develop 355 single-family homes with green spaces and walking and biking trails. And an unnamed Dallas developer will construct 166 townhomes, which will include amenities like a swimming pool, club house and other open spaces.
“The Crossroads project will be a great asset to Princeton,” Derek Borg, Princeton’s city manager, said in the statement. The project will also “provide more jobs to the town and expand the city’s tax base.”
Along with Princeton Crossroads, the city is planning to break ground on a new 40,000-square-foot city hall to be located on the north side of U.S. Highway 380.
“The new city hall will be surrounded by a new city park that will feature two ponds, walking trails, a playground and dog park,” Burrow said. “The city has acquired the site and they are in the process of completing the design for the new city hall.”