Special offer

Princeton Township - Age restricted housing

By
Real Estate Agent with RE/MAX Tri County
Developer of Princeton Age-Restricted Housing Project Makes Request to Lower Qualifying Age from 62 to 55  

RMJM Hillier, the developer of the planned age- restricted housing project on Bunn Drive in Princeton, has made a request to the Princeton Township Committee to lower the qualifying age for residents from 62 to 55. The company says that there are only two 62-and-over senior housing projects in the state and both are unsuccessful. The change is therefore needed to make the project feasible.

K-Hovnanian was the original developer of the site, but the company pulled out from the project last October. Hillier says that if age-restriction change is granted, the firm will create a site plan featuring a cluster of 140 housing units on only one-third of the land that would have been built in the Hovnanian project. The firm plans to develop a "closely knit village" of 140 three- story, two-bedroom units that could range from $350,000 to $400,000. In addition, with its proposed underground garage, the Hillier project would entail only 45,000 square feet of paving, compared to the 120,000 featured in the Hovnanian plan.

The development continues to face staunch opposition from environmental groups that claim the site is environmentally sensitive. Officials said that any decisions regarding the project would likely be decided over multiple working sessions.