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Princeton’s Housing Master Plan News

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The Greater Princeton Area housing continues to expand.

The Regional Planning Board of Princeton approved the site plan on April 12. In June, work at the approximately 16-acre site will begin with environmental abatement and will continue through the summer and fall with the razing of the two existing buildings. The complex is expected to be completed in summer 2014 and to house up to 715 residents in 329 units.

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Among the community’s specific elements will be:

  • 74 townhome units featuring open-concept layouts, including three-bedroom, three-bathroom units, and four-bedroom, three-bath units in buildings that will be two and three stories tall;
  • 255 apartment units featuring open-concept layouts, including one-bedroom, one-bath units; two-bedroom, two-bath units; and three-bedroom, three-bath units, in buildings four and five stories tall;
  • a “commons” area with a fitness center, social lounge with a television, a computer cluster with a printer, a children’s playroom and a multifunction room;
  • outdoor common areas, including a patio for barbecuing, a basketball court and a volleyball court; and
  • a parking garage with 504 spots (408 for Lakeside residents and the others to be allocated by the University’s Transportation and Parking Services) that is served by the University’s TigerTransit shuttle service.

You can call Rosy at 609-915-9665 Today to learn more about living in Princeton and surrounding communities.

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Buying Home Mercer County NJ NJ Real Estate News

Mercer County has Low unemployment rate – Princeton Home Values Increase

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Mercer County has Low Unemployment Rate

The unemployment rate in Mercer County is 5.3 percent, nearly three points under the New Jersey rate of 8.4 percent and lower than the latest national numbers showing a 6.7 percent unemployment rate.

Princeton Area Home Values Increase

Princeton saw the average home sell at $933,122 – a $76,254 increase from 2012’s average. Hopewell Borough also saw a sharp increase, from an average of $356,774 in 2012 to $413,944 last year, and in Pennington Borough, the average sales price rose from $414,453 in 2012 to $471,851 last year. Montgomery and Lawrence townships last year, annual unit sales were up in both municipalities, rising from 230 in 2012 to 295 last year and from 237 to 323, respectively.  West Windsor, Plainsboro and Cranbury also saw a modest rise in average sales price and a jump in annual unit sales from 554 to 638.