By Kristine Snodgrass, Staff Writer
Intercap Holdings has backed off plans to end cooperation with the West Windsor Township Council in its redevelopment of the train station area.
In a complete turnaround, company chairman Steve Goldin was invited by council to sit at the table with them during a workshop on the redevelopment draft plan Friday morning at the municipal building.
Intercap Holdings released a statement last month saying that, frustrated with a lack of progress in redevelopment plans, it would seek rezoning for its 25-acre property along Washington Road to build 1,440 condominiums and 88,000 square feet of office and retail space.
But on Friday, Mr. Goldin proposed building a total of 935 total housing units, comprised of four- and five-story buildings, on the property. The number includes 60 units of the township’s affordable housing requirement.
Council Vice President Heidi Kleinman said she was contacted by Mr. Goldin last week. In the conversation, she suggested that he help with a portion of the township’s affordable housing requirement.
Construction by NJ Transit on its property would create a need for about 60 units, which Mr. Goldin agreed to build on his property in the second phase of construction, with two conditions, Ms. Kleinman said. Those conditions were that parking for the units would be paid for with tax increment financing through the township, and the fee paid by NJ Transit toward affordable housing to the township would be handed over to Intercap.
The compromise would allow the township to integrate the affordable units with other housing in town with a smaller tax burden for building the units, Ms. Kleinman said. The draft plan put the housing units on a piece of land not owned by the township, which it would have to buy, or obtain by eminent domain, something the township would not do, she said. Mr. Goldin could also build the units at a lower cost, it is believed.
The proposal is a “good starting place” for a compromise between private stakeholders and the township, she said.
”Clearly, this is not perfect, but this solves some of the key things that we’ve been struggling with,” she said.
Council President Charles Morgan said the proposed compromise is a “work in progress,” and the total number of housing units may change, though it is unlikely the number will increase.
”I was excited by the breakthrough of getting Goldin back to the table,” he said Monday.
Mr. Goldin attributed the turnaround to the “extraordinary” nature of the Friday meeting.
”Today for the first time we’re all seeing the great things that can happen when the public and the private sector sit down at the table and work on a situation,” Mr. Goldin said during a break at Friday’s meeting.
Under his proposal, the first phase of building would begin in 2011 and include 660 units. Of these, 528 would be market-rate and the remainder would be set aside to meet the township’s affordable housing obligation. Ninety percent of the units would have two bedrooms.
The next 215 would be built if fewer than 185 schoolchildren moved into the first 660 units. Otherwise, Intercap would need approval from council to continue to the second phase.
Also at the meeting, Mayor Shing-Fu Hsueh, council members and township professionals continued to work through the draft plan to compile suggested changes to give to architectural firm RMJM Hillier, which drafted the most recent plan. Once submitted, the firm will rework the plan.
Councilmen Will Anklowitz and George Borek were absent from Friday’s meeting.
The council will hold another work session 10 a.m. Wednesday at the municipal building.

