Bordentown Township Officials are proud to announce that the Township has purchased approximately 72 acres of property along the Delaware River that was previously slated for high-density housing.
The property, once part of the Bordentown Waterfront Development project, is now planned for dedicated public open space, wildlife preservation, and environmental conservation.
“The Township Committee and I are excited to announce this purchase,” said Bordentown Township Mayor Stephen Benowitz. “The Township has seen significant residential and commercial growth over the past several years, so it carries extra significance when we can preserve areas like the waterfront that are so environmentally important.”
In 2008, the Bordentown Waterfront Development was approved as a multi-phased project that included high-density residential and commercial buildings. The first several phases include Rivergate Apartments, Waterfront Village, and the QuickChek gas station and convenience store. The only remaining phase that will be constructed is a previously approved 66-unit apartment development adjacent to the QuickChek.
Volunteers of America, the non-profit builders of the age-restricted (55 and over) affordable housing complex catering specifically to veterans at Waterfront Village, will be building the remaining apartments. Both projects by Volunteers of America are part of the Township’s affordable housing program.
By purchasing the property and not building the balance of the project, the Township has prevented the construction of over 330 market rate residential units. In addition, the Township was supporting the project through Redevelopment Area Bonds (RAB) in the amount of $14 million for the construction of the public infrastructure (public roads, water and sewer). Those RAB funds will no longer be needed and will be cancelled from the Township’s debt.
“The cancelling of over 330 units prevents the possibility of potentially hundreds of children entering our school district,” said Mayor Benowitz. “We also save the burden on our utilities, roadways, and municipal staffing. Most importantly, this is all accomplished with the added benefit of preserving ecologically and environmentally sensitive areas along our waterfront.”
Township officials have already begun the process of reaching out to other public entities for the planning and design of the proposed open space. It is anticipated that grant funds will be utilized to offset both the purchase price and develop the property’s public amenities. Total purchase price for the 72 acres was $4.6 million.
Mayor Benowitz added, “We are able to accomplish this with little to no effect on our budget moving forward. And, as previously stated, we are saving significant money in the future by eliminating the burden of 330 residential units on our schools and infrastructure.”
See a related press release from Max Spann Realtors here: https://www.einnews.com/pr_news/527479947/72-acre-mixed-use-waterfront-development-site-sold-to-bordentown-township-site-to-be-preserved-as-riverfront-park
For more information about Bordentown Township, visit bordentowntownship.com.