300 Cole st - 13+ AC - Multifamily/BTR 156 Units - Zoned 13.57 Acres of Residential Land Offered at $4,680,000 in Princeton, TX 75407

LiteHouse Village is a 13.57± acre multifamily development site located at 300 Cole Street, Princeton, Texas 75407, within Collin County and near the US-380 growth corridor. The property is zoned Planned Development (PD) and is zoned for 156 multifamily units, creating a strong opportunity for a developer to pursue conventional multifamily, townhome-style rental, cottage-style rental, or Build-to-Rent product.
The site is being offered at $4,680,000, which equates to approximately $30,000 per zoned unit and approximately $344,900 per acre. Seller will provide a reasonable due diligence period for the buyer to verify zoning, utilities, engineering, site plan feasibility, product type, and any municipal requirements for buyer’s intended development program.
Existing apartment communities are located immediately adjacent to the site, supporting the multifamily use and making the location more straightforward for future apartment development. The sale also includes existing Build-to-Rent site plans, civil engineering, development due diligence materials, zoning materials, and entitlement-related documentation currently in seller’s possession. Buyer may choose to evaluate or utilize the existing BTR development package, or pursue its own multifamily product during due diligence.
Key Property Details
Property Name: LiteHouse Village
Address: 300 Cole Street, Princeton, TX 75407
County: Collin County
Parcel ID: 1810311
Legal Description: ABS A0865 John Snyder Survey, Tract 33, 13.775 acres
Site Size: 13.57± acres per Regrid / 13.775± acres county-provided
Zoning: Planned Development, PD
Zoned Units: 156 multifamily units
Asking Price: $4,680,000
Price Per Unit: Approximately $30,000
Price Per Acre: Approximately $344,900
Current Use: Vacant land / agricultural classification
Owner: LiteHouse Village I, LLC
School District: Princeton ISD
Opportunity Zone: No
Topography: Generally flat based on parcel data, with an elevation range of approximately 174.5 feet to 181.4 feet
Utilities: Buyer to verify availability, capacity, connection requirements, and impact fees with the City of Princeton and applicable utility providers.
Included With Sale
Seller intends to provide existing development materials currently available, including:
Existing Build-to-Rent site plan
Civil engineering work completed to date
Zoning and PD documentation
Development due diligence materials
Prior design package and project description
Multifamily development materials for the 156-unit zoning
Available surveys, exhibits, plans, studies, and municipal correspondence in seller’s possession
Prior Project Concept
The previous LiteHouse Village concept was designed as a Class A, single-story apartment home / Build-to-Rent-style community. The prior design package contemplated a mix of one-bedroom and two-bedroom rental homes, private yards, patios, gated access, pool amenity, leasing office, dog parks, mail area, grilling area, garages/carports, and other Class A rental features.
The existing BTR package is included as an optional development path and due diligence resource. Seller is not requiring buyer to pursue the existing BTR concept. Buyer may evaluate a standard multifamily product, three-story apartment product, or other multifamily design allowed under the zoning and approved by the municipality.
Market / Location Notes
Princeton has experienced significant population and housing growth as part of the broader Collin County expansion. The city benefits from proximity to McKinney, Frisco, and the broader Dallas-Fort Worth employment base, while remaining in a more affordable and high-growth residential corridor.
The property is well-positioned near US-380 and is surrounded by continued residential, commercial, and institutional growth. Existing apartment communities are located immediately adjacent to the site, supporting the multifamily use and reinforcing the location as an established rental housing corridor.
Additionally, an adjoining property was recently purchased by Texas Health Resources, a major regional hospital operator, for its 23+ acre site, further validating the long-term growth trajectory of the immediate area and adding a meaningful institutional healthcare catalyst near the property.
The location is supported by:
Proximity to US-380
Adjacent apartment communities
Nearby Texas Health Resources 23+ acre site
Ongoing residential subdivision growth
Nearby schools, retail, and commercial services
Princeton ISD
Strong Collin County population growth
Continued demand for rental housing in North Texas
Nearby area anchors include US-380 access, Princeton High School, Lowe Elementary, Clark Middle School, Lovelady High School, Southard Middle School, CVS, Walmart, O’Reilly Auto Parts, Papa Johns, Dollar General, Ace Hardware, and other local retail and service users.