The Township Council has introduced two ordinances that would codify the township’s settlement agreement with InterCap Holdings for the development of a transit village in the 350-acre Princeton Junction train station area.
InterCap, led by CEO Steve Goldin, a township resident, had sued West Windsor over the redevelopment designation of the 350-acre area around the Princeton Junction train station, which included InterCap’s 25 acres off Washington Road.
The ordinances were introduced on January 18, and a public hearing is scheduled for Monday, March 7. The ordinances are the next step in the settlement process, which the council began when it approved a settlement agreement in November.
The settlement calls for a total of 800 housing units — to be phased in — on InterCap’s property, along with retail development and infrastructure and amenity contributions. The most notable is a promenade that would provide a public area for residents.
Of the 800 residential units, 40 — or 5 percent — will be moderate income units based on state requirements. Most of the units would be two bedrooms, while as many as 10 percent could be one-bedroom, and as many as 10 percent could be three-bedroom.
Central to the concept plan is the circulation design for the 50,000-square foot promenade in the center of the site. The feature calls for a “shared space” design that focuses on pedestrians and bicyclists, with cars having to drive as slow as 15 miles per hour through the center of the site.
The first ordinance puts into place the standards as they apply to the InterCap property and identifies the areas of the redevelopment plan that will not be applied to the InterCap tract. The second ordinance guarantees that the terms of the settlement and redeveloper’s agreement will remain in place, even if the township’s redevelopment plan is struck down in a third -party litigation. The two ordinances effectuate the settlement.
Township Attorney Michael Herbert said at the January 18 meeting that Superior Court Judge Linda Feinberg, who is presiding over the case, has indicated the “fairness hearing” required as part of the process will take place in the third week of March. “A specific date has not been set yet,” he said.
If Feinberg grants approval, a development application as outlined by the settlement would go to the West Windsor Planning Board for approval. If the board approves the application, InterCap will dismiss its lawsuit against the township.
