We have priced our rental units competively with undercutting the single family home rental market pricing below the Princeton, McKinney, and Frisco markets. We are priced with the apartments in Princeton , but our product is superior. With McKinney adjacent to us and much higher priced we feel that many people coming into this marketplace will chose us because of lower pricing and our superior product to that of a typical apartment building. With this market growth, #2 MSA in US for annual job growth and McKinney formally #1 on the list of Best Places to Live in America by Money Magazine based upon affordability, education, diversity, and economy, we think it is very strong. We were fortunate to buy and zone this property at a price that we could afford to do this low density product. Our product will reduce the emissions substantially over a 275-300 unit project. We cannot find another land purchase in the area where we could build this product due to the current price of land. Our complex is well positioned in the area with the Middle School down the street having an "A" rating and a new shopping center across the street being constructed. Our site being located at Monte Carlo and Longneck offers us easy access directly to Highway 380 which is a quick drive into McKinney. Collin County is the fastest growing County in the state, and we are a 40 minute drive to downtown Dallas.
| Property Type | Land -Multi-Family Acreage |
|---|---|
| Property Use | Other Commercial |
| Zoning | PD |
| Cap Rate Percentage | 19.38 |
| Listing ID | K32RXD |
| Style | Not Applicable |
| Lot Size | 12.2 AC |
Area Description: Investment Highlights 12.20 Acre Multi Family 4 plex Development Growing East Dallas Market Call for showing details
Region: DALLAS, TX
Region: North Texas
| Development ID: | GARDEN HOMES OF PRINCETON |
| Lot Size: | 10-20 Acres |
| Age: | New Construction |