Ever wonder how developers take plans for housing and make them a reality, often in the face of public and legal opposition? The Princeton Mercer Regional Chamber of Commerce is hosting a panel of developers who will discuss how they constructed three of the region’s biggest developments over the past several years.
The event, Major Real Estate Development in the Princeton Mercer Region, will take place Wednesday, July 24, from 8 to 10:15 a.m. at the Mercer Oaks Golf Club in Princeton Junction. Tickets are $40, $30 for chamber members. For more information, visit www.princetonmercerchamber.org.
The speakers at the event, hosted by the Real Estate Business Alliance, represent three different types of development: a dense residential development near a train station; a student housing and retail development on a college campus; and a luxury home and apartment complex mixed with short-term-stay corporate housing in West Windsor.
The Crossings at Hamilton Station: First proposed in 2004, the Crossings at Hamilton Station is, as the name suggests, located near the Hamilton NJ Transit Station. Construction began in 2010 on the 636-unit development. Built by Edgewood Properties, prices on the condos start in the $200,000s and in the $300,000s for the townhouses. Apartments start around $1,700.
The 44-acre site, which abuts the American Metro Center office park, was once targeted to be a “transit village” that included retail establishments alongside the housing, but only the residential units have come to fruition. The development was eventually built despite fierce opposition and lawsuits from residents who did not want the development in their back yards. (Hamilton Post, October 14, 2014.)
Betty Shum Weber, senior vice president of residential operations for Edgewood Properties, will discuss the Crossings at Hamilton Station.
Campus Town: A mixed-use development with housing for 446 students along with 83,000 square feet of retail space, Campus Town was built on the perimeter of the College of New Jersey’s campus near the main entrance on Pennington Road in Ewing.
The amenities include a Panera, a Barnes and Noble/student book store, a fitness center for students, a Verizon store, and several other restaurants and retail stores.
The development was build by PRC Group as part of a public-private partnership between the university and the developer.
In a 2018 interview, Ewing mayor Bert Steinmann told the Ewing Observer the retail space was more than 90 percent occupied. Governor Phil Murphy used the development as a backdrop to sign an economic development bill in 2018.
Greg Lentine, vice president of PRC Group, will discuss Campus Town.
Enclave at Princeton Junction: This development on Bear Brook Road provides homes within walking distance of the Princeton Junction NJ Transit station and downtown Princeton but at a price: Its 51 carriage house-style townhouses started at $700,000. The project also includes 192 flexible stay corporate suites and 40 apartments marketed as “The Parc” renting for over $3,000 a month. The apartments are built over 20,000 square feet of retail space.
Toll Brothers told town officials the corporate suites will include 97 one-bedroom and 95 two-bedroom units renting for $1,500 to $2,000 a month for monthly to yearly stays, with an additional 10 units devoted to nightly and weekly stays.
Matt Campbell, director of land acquisition for Toll Brothers, will discuss the Enclave.