The Plainsboro Planning Board unanimously approved the application to build 394 apartments at Forrestal Village at the October 20 meeting. The proposed development will add a residential component to the site: three apartment buildings that will replace existing parking near College Road West and Seminary Drive.
“Certainly within a year we will be building,” says Robert Schenkel, senior director at Lincoln Equities LLC, the current co-owner and developer of the village. “The village is going to be reinvigorated. This is an interesting planning exercise, an urban environment in suburban New Jersey.” Investcorp Real Estate is the group’s capital partner.
The approved proposal calls for 394 luxury apartments, 50 of which will be affordable rate units. According to the concept plan, there will be 229 one-bedroom units, 135 two-bedroom units, 20 studios, and 10 three-bedroom units, all ranging from 555 square feet to 1,050 square feet. Amenities include a swimming pool, barbecue space, and pocket parks.
Lambertbille-based firm Minno & Wasko are the architects.
“The plan is they will be rentals,” Schenkel says. “The target market is millennials and empty-nesters seeking hospitality-type buildings.” The developer is aiming for a critical mass of residents who will interact with the existing retail center.
The three apartment buildings planned will be three to four stories in height, with varying numbers of apartments in each building. The buildings will be bound by College Road West, with that road and Seminary Drive ultimately being converted into a perpendicular intersection.
The first phase for Lincoln Equities will be the construction of Building “B,” which will have a total of 96 units, situated on the parking lot west of Surgical Specialists at Princeton. Construction is expected to take 12 to 15 months.
#b#Plaza Update#/b#
Mayor Peter Cantu issued the following update on developments at Plainsboro Plaza:
“Since I last updated you in June, progress has been slow, accounting for the time between updates. As you can see, work has begun on improvements to the facade of the buildings. Also, Indus Bank, the newest addition to the plaza, is now open. Plans are on track for LightBridge Academy (formerly Rainbow Academy), a pre-school/daycare facility which will be occupying the space formerly occupied by Ace Hardware. The Planning Board approved their application on August 18. Building permit applications for the project have not yet been received.
“Onyx Equities continues to target a full-service grocery store for the plaza. We have been informed that Onyx is in negotiation with a grocery store. Given the confidential nature of these dealings we only know that the discussions are ongoing and appear to be moving slowly. Township officials continue to press Onyx, making it clear that a grocery store is an essential component of a successful shopping center and is urgently needed in the community. As a private business transaction, we have no role in these discussions.
“In February, the Plainsboro Planning Board approved upgrades to Plainsboro Plaza that include the construction of new directory signs at the entrances to the plaza, as well as at the corner of Scudders Mill Road and Schalks Crossing Road; the renovation of the building faced (work which is underway); parking lot re-design and improvements to landscaping. We are disappointed that the implementation of these improvements has not advanced more quickly.”
Indus Bank will celebrate its grand opening Saturday, November 8, from 10 a.m. to 2 p.m. at 10 Schalks Crossing Road. The event will include music, dancing, food, drinks, games, and gifts, including a $2 bill for the first 200 attendees, a raffle every hour for $50 cash, and a grand raffle for an iPad 2 Air.
#b#Taxes Due#/b#
Plainsboro residents’ fourth quarter property taxes are due Saturday, November 1. A drop box located in the stairwell at the police entrance to the municipal building at 641 Plainsboro Road. Payments received after 4:30 p.m. on Monday, November 10, will be charged interest retroactive to November 1. For more information contact the tax office at 609-799-0909 ext. 1409 or 1408.
