The Princeton Planning Board will hold a special meeting May 3 to consider an application for a 125-unit rental apartment development on the corner of North Harrison Street and Terhune Road.
Terhune Development Urban Renewal LLC will present its application for preliminary and final site plan approval in front of the Planning Board at 7 p.m. The meeting will be held via Zoom.
The applicant is seeking to build the 125-unit apartment development on a 5.9-acre lot that borders the Princeton Shopping Center. The lot was subdivided from the Princeton Shopping Center and is located in the North Harrison Street Redevelopment Area.
The plan calls for a single, four-story building that would include a mix of affordable and market-rate apartments. Of the 125 apartments, 25 would be set aside for low- and moderate-income households. The remainder would be market-rate apartments.
The applicant is proposing 60 one-bedroom apartments, 59 two-bedroom apartments and six three-bedroom apartments. Some of the one- and two-bedroom apartments would include a den, according to plans on file at the Princeton Planning Department.
Parking will be provided for 163 vehicles: 146 in a parking lot on site, and 17 parallel parking spaces in front of the building on Terhune Road. The plan includes 15 electric vehicle parking spaces, although only eight are required. Conduit will be installed to allow for the addition of 10 more electric vehicle charging stations.
There will be 145 bicycle parking spaces, although 123 bicycle parking spaces are required. This includes outdoor bicycle racks for the general public and indoor bicycle storage for residents. Covered bicycle parking spaces will be provided for long-term parking.
Amenities include a playground, outdoor seating areas, a dog park and patios. Grover Park is about one-quarter of a mile away from the apartment complex, and can be reached by walkways proposed on Terhune Road, North Harrison Street and through the property to the Princeton Shopping Center, according to the plans.
If Terhune Development Urban Renewal LLC’s application is approved, it will be the fourth multi-family rental development approved by the Planning Board in the North Harrison Street Redevelopment Area.
Last year, the Princeton Planning Board approved a 200-unit apartment building on the east side of the Princeton Shopping Center that includes a mix of affordable and market-rate apartments.
In 2020, the Planning Board approved a 221-unit development on Thanet Circle, off Thanet Road, that will include 193 rental apartments and 28 townhouse units. Of the 193 rental apartments, 11 would be set aside for affordable housing.
Also in 2020, the Planning Board approved an application for an 80-unit, age-restricted affordable rental housing development on Thanet Circle, off Thanet Road. All of the apartments are earmarked for affordable housing.
The developments are part of the settlement agreement reached by the Municipality of Princeton and the Fair Share Housing Center, which sued Princeton – and many other towns – over their alleged failure to provide their fair share of affordable housing.