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The 15-acre Thanet property. File photo.
The Princeton Council voted unanimously on Monday night to approve an ordinance authorizing a payment in lieu of taxes financial agreement with apartment developer AvalonBay for a new 220-apartment complex that will be build at Thanet Circle. The development will include 11 affordable apartment units.
AvalonBay entered into a contract to puchase 100 and 101 Thanet, a former 110,000-square-foot office site, in 2019. AvalonBay will subdivide a 2.5-acre parcel at the 15-acre site and give it to Princeton for an age-restricted affordable housing development.
Under the PILOT agreement, AvalonBay will be exempt from paying taxes for the land and the improvements for 30 years. AvalonBay will instead pay the town an “annual service charge” or payment in lieu of taxes. In New Jersey, PILOT payments go into municipal coffers, with five percent going to the county, and no funding going to the school district. The municipality can choose to give
The 15-acre Thanet property. File photo.
The Princeton Council voted unanimously on Monday night to approve an ordinance authorizing a payment in lieu of taxes financial agreement with apartment developer AvalonBay for a new 220-apartment complex that will be build at Thanet Circle. The development will include 11 affordable apartment units.
AvalonBay entered into a contract to puchase 100 and 101 Thanet, a former 110,000-square-foot office site, in 2019. AvalonBay will subdivide a 2.5-acre parcel at the 15-acre site and give it to Princeton for an age-restricted affordable housing development.
Under the PILOT agreement, AvalonBay will be exempt from paying taxes for the land and the improvements for 30 years. AvalonBay will instead pay the town an “annual service charge” or payment in lieu of taxes. In New Jersey, PILOT payments go into municipal coffers, with five percent going to the county, and no funding going to the school district. The municipality can choose to give
The municipality of Princeton will host an online neighborhood meeting from 6 to 8 p.m. on May 18 to discuss the design of Witherspoon Street from Paul Robeson Place to Valley Road.
“In 2020, we began a community discussion about Witherspoon Street, focusing on the downtown area between Nassau Street and Paul Robeson. This May 2021 design meeting is intended to continue the community discussion about Witherspoon Street from Paul Robeson to Valley Road,” reads the announcement about the meeting from municipal engineer Deanna Stockton. “We are seeking your ideas and feedback for pedestrian, bicyclist, transit and motor vehicle improvements; street lighting; tree and other vegetation additions; public art; seating and other street furniture; and any other features that will enhance the vibrancy of the corridor.”.
Princeton police blotter ×
A Jefferson Road resident was scammed out of $2,950 in an online scheme in which she emailed back and forth with someone who she believed was her best friend, according to police reports. The victim mailed various gift cards to the scammer via email at the scammer’s request, until she realized the person was not her friend. The incident was reported April 11.
Cash and other items were stolen from several unlocked cars that had been parked in their owners’ driveway or open garages on Nassau Street, Mercer Street and Parkside Drive between April 10 and 11.
A Panasonic brand electric bicycle belonging to a Bunn Drive resident was reported stolen from a parking garage near the victim’s apartment complex. The bicycle was recovered by the Westampton Police Department. The incident was reported April 7.
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