X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MONTGOMERY TWP., NJ-This Somerset County township’s planning board has granted preliminary site plan approval for the Waterford, a 218-unit active adult community. The developer, Sharbell Development Corp., expects to begin construction early next year once the project clears final approvals.

Located on a 130-acre site adjoining Routes 518 and 206, Sharbell’s project will preserve about half of that tract as open space, according to senior vice president Thomas Troy. No price tag for the project has been released.

Besides the residential component, the Waterford will also include two separate general-use buildings totaling 30,000 sf on four acres. One building will consist of a 120-bed assisted living facility, according to Troy, while the other will be a medical office building. The newly approved site plan includes a scaled-down version of the office building from an earlier proposal that drew some criticism.

The project will also include an 8,000-sf community center and a pedestrian connection to the nearby Village Shopper shopping center, according to Troy. An on-site farmhouse and surrounding lands totaling six acres will be preserved through a subdivision and deed restriction.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.