PRINCETON, Texas (CBSDFW.COM) – A small city in Collin County is about to get a big makeover.
Princeton, just east of McKinney, is already growing and city leaders believe a new 297-acre mixed-use development will make it an even more appealing place to live and work.
Princeton Crossroads will sit on an undeveloped commercial tract along both sides of Highway 380 near Boorman Lane. It will be the largest mixed-use development Princeton has ever seen, according to city officials.
The developer said it will include the new Princeton City Hall, a commercial and retail center called Fireside Square, a city park and 333 single-family homes and 166 townhomes.
“The city has grown rapidly, in terms of residential development, but there’s quite a void in terms of commercial development and retail services, restaurants, entertainment and so they’re excited to be able to provide a lot of those services that don’t currently exist,” CEO of Range Realty Advisors Chris Burrow said.
Derek Borg, Princeton’s city manager, said in the last five years the city’s population has close to doubled.
It’s estimated more than 11,000 people now live in the city and he doesn’t see that growth slowing down any time soon. He said hope is this development will make this city more appealing to both its current population and future residents.
“This is a great opportunity for Princeton to experience some growth in the commercial aspect and really provide some of the needs that the folks have been asking for for the last several years,” Borg said.
For Karen Alderson, who was born and raised in Princeton, the growth brings mixed emotions. She worries about the traffic, but says she’s hopes it will bring more business to her hair salon.
“I do a lot of older people and so I’ve lost a lot, but with everything coming then I figure it will build back up,” Alderson said.
The development’s groundbreaking will take place October 25.