Work is resuming on the apartment complex swimming pool. Bob Wieland/Princeton Herald

The Princeton Housing Standards Commission (HSC) has met the new owner of the former Princeton Luxury Apartments east of Walmart on U.S. Highway 380. And Director of Development Services Craig Fisher reported work on the project was on track with the remediation order issued Aug. 22, 2024, by the commission. 

Fisher told the HSC’s Monday, Jan. 13, meeting that the 15-acre complex at 599 W. Princeton Drive had been inspected by city staff along with Strand Systems Engineering of Dallas, Childress Engineering Services (CES) of Richardson and HP EnviroVision of Grand Prairie.

Blóm Capital and JT Capital Group assumed ownership of the project last month and Fisher introduced Joseph Sebastien, founder and chief executive officer of Blóm Capital.

Sebastien said all 306 units in 12 apartment buildings and a clubhouse should be ready for occupancy in February of next year, under the new name, Ironwood at Princeton.

“With all the information that we have, we believe we’re still on track,” he said. “At this point, we’ve met all the timelines for remediation … we’re going to go dive in and continue due diligence to ensure that we can meet the deadlines moving forward.”

However, he added the new owners were still uncovering remediation issues such as mold abatement.

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