An Austin apartment developer is betting on the far edge of Collin County, snapping up roughly 16 acres of land just outside Princeton for what is expected to be its first multifamily project in the Dallas-Fort Worth market. The tract sits in unincorporated county land near FM 982 and County Road 1099, part of a larger assemblage that has been quietly shopped to builders and investors as growth keeps pushing past city limits.
Deal details
According to the Dallas Business Journal, an Austin-based firm identified in that report has closed on the 16-acre parcel, buying it from No Bad Days LLC. The outlet reports the land will be the buyer’s first multifamily development in the DFW area, and that the sale price is not being disclosed.
Property and seller
County planning documents label the land as part of a replat called “No Bad Days East” and list No Bad Days LLC, the Ray Johnston holding company, as the owner, along with notes about required sewer easements and access from FM 982. Marketing materials for nearby No Bad Days Village peg the broader site at 5251 FM 982 and list Johnston as the property contact, signaling that the area has been positioned for residential and mixed-use buyers. Collin County records outline the replat details, while Reserve Capital Partners has marketed the surrounding village site.
Where this fits in Princeton's growth
Johnston has been carving up the larger tract in recent years, selling pieces to homebuilders and other developers and helping pull bigger-name players into the corridor. Those earlier deals, and the rising land prices that followed, helped push multifamily developers to start scouting just beyond Princeton’s city limits, where unincorporated county parcels still offer scale. Prior coverage of major land sales and the city’s rapid expansion highlights why this stretch has become a magnet for investment, as reported by The Real Deal.
Why this matters
The acquisition marks another Austin group pushing into North Texas just as the suburban rental market keeps heating up, potentially adding new apartment choices for workers commuting into the region. The Austin firm named in local coverage, Journeyman Group, has built a track record of affordable and tax credit projects in its home city. Its Princeton-area move would be its first build in DFW, according to that reporting. The City of Austin housing records lay out the company’s Austin work, while the Dallas Business Journal details the new-market push.
So far, no permits, entitlements or construction timelines have surfaced in county filings. The existing replat and utility notes show that easements and sewer connections are among the hurdles the developer will need to clear before any dirt starts moving. We will be watching Collin County permit records and local filings for the first formal site plan and a construction schedule, which will tell residents when those 16 acres of pasture officially turn into apartments.
