Looks like Townhomes, Apartments and some Grocery & Retail for Sears Lot behind Douglass

[NotInRHouse]

I saw an advertisement for this development and had no idea there was a plan in place for the Sears lot. A walking distance grocery store to Douglass is definitely a winner. I wonder if apartments will be marketed to students. Townhomes for sale is interesting- wonder if investors will pick up to rent out.

https://www.pulte.com/homes/new-jersey/princeton/new-brunswick

Former Sears on Route 1 in New Brunswick targeted for major redevelopment

About 170 townhomes, 530 apartments and a grocery store may be built on the 30-acre Route 1 site formerly occupied by Sears in New Brunswick.

www.mycentraljersey.com

 

[Sir ScarletKnight]

I saw an advertisement for this development and had no idea there was a plan in place for the Sears lot. A walking distance grocery store to Douglass is definitely a winner. I wonder if apartments will be marketed to students. Townhomes for sale is interesting- wonder if investors will pick up to rent out.

https://www.pulte.com/homes/new-jersey/princeton/new-brunswick

Former Sears on Route 1 in New Brunswick targeted for major redevelopment

About 170 townhomes, 530 apartments and a grocery store may be built on the 30-acre Route 1 site formerly occupied by Sears in New Brunswick.

www.mycentraljersey.com

It would be great if the townhomes could have a stipulation that they can't be rented within a certain period; we have enough slumlords and investors ruining the housing market in that area.

 

[RUnTeX]

Townhomes for sale is interesting- wonder if investors will pick up to rent out.

https://www.pulte.com/homes/new-jersey/princeton/new-brunswick

My guess is that with the article stating stacked towns that these will be in a condominium regime instead of fee simple ownership. I believe Pulte as a homebuilder does probably build a 2-over-2 stacked town product.

Pulte will likely want the flexibility to sell to investors as well as owner-occupiers but the City may require a cap of no more than X% of the 170 homes/units can be rented out, without condo association board approval.