It’s not all full speed ahead for developers in the fastest-growing city in the country, where boomtown status has its limits.
Princeton extended its moratorium on residential development for the second time as it races to catch up with its own population boom, the Dallas Business Journal reported.
The city of roughly 37,000 grew by over 30 percent in one year, the largest increase in the nation, according to the U.S. Census Bureau. That explosive growth has outpaced critical infrastructure like roads, police and, especially, water systems. The moratorium, first put in place last September, was extended on June 23 and now runs through the end of November.
The pause doesn’t halt all residential construction. Projects with vested rights or existing agreements can still move forward.
Still, the freeze sends a clear signal to developers that Princeton is trying to buy time to shore up basic services.
City leaders are pushing through a series of upgrades in the interim. A new water pumping facility is on track to open this fall, and design work has begun on a 3-million-gallon storage tank. Princeton is also drafting a water and wastewater master plan and updating its capital improvements roadmap, both expected by early next year.
“This is about making sure the infrastructure and services can support growth without losing livability,” city spokesperson Erin Mudie said.
Despite the moratorium, developers are still looking for their in. Cope Equities is working on multiple multifamily and retail projects, including the 104-acre Monticello mixed-use site. In a recent land deal, local investor Ray Johnston sold 75 acres to Lennar for a future single-family home community.
The city issued 758 residential permits between January and May. But with roads, water systems and public safety all playing catch-up, the clock is ticking on Princeton’s transition from rural suburb to urban center.
On the public safety front, the city has hired six new police officers and now employs 16 in total. A three-year staffing plan is underway, and new technology, including license plate readers, mobile fingerprint scanners and imaging systems, is set to roll out this year.
— Judah Duke
Read more
Dallas suburb crowned America’s fastest-growing city
Lennar scoops 75 acres in North Texas boom town
Sellers back off of listings as North Texas market favors buyers
