Walton Acquires 129 Acres for Future Development in Princeton, Texas
Press Release, 2020/12/10
Walton, a real estate investment and land asset management company with US$3.39 billion under management and administration, has acquired 129 acres at the southeast corner of Princeton Road and County Road #490 in Princeton, Texas, northeast of Dallas.
The land is planned to be annexed soon for single family, multifamily, and commercial use. Walton will align with a top builder for the residential portion of the property.
One of the fastest-growing cities in Collin County, Princeton offers a small-town feel with an outstanding public-school system, offering a quality of community life.
Brad Wiley, Senior Land Acquisition Manager with Walton said, “We are excited to celebrate our first entry into the Princeton area, offering a growing community and an affordable lifestyle with a neighborhood feel. Just northwest of this property, the city is building a new City Hall Town Center, to be the epicenter of activities, restaurants and entertainment.”
Located just 30 minutes northeast of Dallas, Princeton provides easy access to several area highways and is minutes from the Dallas North Tollway and Highway 75 for a convenient commute to work. Princeton offers two city parks, Lake Lavon is nearby for water skiing, boating, and fishing, and golf enthusiasts will enjoy the Heritage Ranch & Golf Country Club and Oak Hollow Golf Course.
Walton administers and owns an interest in an additional 129 acres north of Dallas and administers other projects underway in Austin and Houston.
The Princeton land acquisition adds to Walton’s 85,000-acre portfolio of owned or administered land located across the United States, providing a scalable land acquisition platform to support homebuilders with just-in-time inventory management.
For over 40 years, Walton has researched, planned and structured pre-development land investments located in the major growth corridors throughout the U.S. and Canada. The evolution of Walton has opened the door to offering new products, creating opportunities for investors and homebuilders.