50 years ago, in 1973, Princeton Properties was founded by our chairman, James Herscot in Lowell, MA and continues to be based in Lowell. Princeton Properties has realized some of its greatest business growth by acquiring and developing properties in the New England area. Princeton has strong ties to the community and believes in creating and managing properties that generate pride for residents and neighborhoods alike. Now, in 2023, Princeton Properties has grown to over 7,000 units across Massachusetts, Maine, and New Hampshire.
The History and Evolution of Princeton Properties
1973 Princeton Properties Management, Inc. is founded, the 1st property located in Lowell, MA
1985 Princeton grows to 500 units
1991 Princeton first expands to New Hampshire and reaches 1,000 units
1994 Princeton expands to Maine and reaches 2,000 units
2001 Princeton Properties is recognized by NAHB (National Association of Home Builders) with the Property Management Company of the Year Award
2008 Princeton receives Enterprise Bank Business of the Year Award
2009 Princeton reaches 4,000 units
2020 Princeton receives 2020 Pillars of Industry Award, Best Repositioning Award, and reaches 6,000 units
2023 Princeton proudly celebrates its 50th year and has grown to over 7,000 units across MA, NH, and ME
Princeton Properties’ Team
Princeton Properties hires employees who share our values. The success of Princeton Properties is determined by how well they perform their jobs. We recognize that in order to provide a high level of customer satisfaction, our employees must have a high level of job satisfaction. We treat our employees with respect, consideration, fairness and trust. Like our property management philosophy, this approach yields long-term dividends.
Princeton prides itself on promoting from within. Training employees to take on greater responsibility is part of our culture. Today, 80% of Princeton’s management growth comes from inside the company. We also have exceptionally low turn over; when you become part of the Princeton Team, you become part of the Princeton Family.
We realize that our long standing success comes in large part from resident and community satisfaction. Princeton has strong ties to the community and believes in creating and managing properties that generate pride for residents and neighborhoods alike. We prioritize giving back to the local communities we reside in and becoming exceptional partners and neighbors. This giving nature was born out of the philanthropy of our chairman and founder, who continues to set an example through his personal charitable endeavors.
Our company motto has always been: Do the right thing, not just do things right.
During the most recent COVID-19 pandemic, Princeton started a “Princeton Loves Local,” campaign to support local businesses, add a bit of light and happiness to their resident base, and provide Princeton property site teams the resources to support local charitable efforts within the communities that they work and live in.
Princeton Properties regularly partners with Mill City Grows, Building Impact, and Project Home Again. In recent times, we have also volunteered with and donated to, Monadnock Humane Society, LowellSPCA, The Front Door Agency, and Kids in Tech.
Princeton Properties is also committed to caring for the environment, actively taking steps towards reducing our carbon footprint. Within our Company, we are taking both big and small steps to make a difference, from fossil free construction on our newest endeavor and numerous solar panel installations to recycling programs offered to our residents. Our goal is to provide opportunities for residents and employees alike to live a greener lifestyle. To read more on our green initiative, please visit our Going Green page.
Princeton Properties: Looking Forward
Princeton Properties, in addition to acquiring and repositioning existing assets, invests in new construction of apartment communities. With years of experience in multi-family housing, Princeton Properties understands the entire building process and has developed a talented group of in-house professionals who are highly skilled in project management. This includes permitting, design, functionality planning, pre-development services and lease up marketing.
The James, a Princeton Properties Community, named after our founder and chairman, is a fossil-free construction project that will bring luxury garden-style apartment homes to the Haverhill, MA area. Our expectation is for this development to be the most modern community Princeton Properties has ever built, boasting notable features such as EV Charging ports and smart home capabilities.
Princeton Properties applies their “best practices” to any management relationship keeping owners objectives in the forefront. Careful consideration is given to the types and locations of the assignments undertaken, assuring that the needed support can be readily and consistently provided to the site-based staff. As of November 2023, Princeton will be adding four more unique properties to our managed communities in Massachusetts and New Hampshire. Our pledge to owners and investors has always been to continually increase the value of our properties through strong hands-on management, innovative marketing, tight control of expenses and sound financial planning.
Princeton Properties owes its remarkable journey of the past five decades to the unwavering support and dedication of our local communities, esteemed employees, valued residents and investors. Here’s to the next 50 years of growth, innovation, and shared success. Together, we will continue to shape vibrant communities and foster pride that lasts a lifetime.