by Sean Ruppert, Staff Writer
Plans for a science research park on Route 1 in South Brunswick are moving forward despite being somewhat slowed by the sagging economy.
Princeton Forrestal, the real estate development arm of Princeton University, owns the 90-acre lot slated for the private research campus. The site is to be developed by Eastern Properties Inc.
Princeton Forrestal spokesman David Knights said the company initially hoped to have submitted plans to the township for approval by now, but it continues to work on those plans, which should be given to South Brunswick by February 2009 at the latest.
”Clearly, the world is dramatically different than it was just a few months ago,” Mr. Knights said. “It would be wrong to say we are moving forward at full blast as though the world is rosy, but we do remain deeply committed to the project and it is moving forward.”
Mr. Knights said that once the plans are submitted, the pace of the project would be dictated by the township’s approval process and the economy. Preliminary plans call for the construction of seven science buildings and one office building over 90 acres of the property.
Mayor Frank Gambatese said that Eastern Properties is also waiting to find out what the affordable housing obligation will be for project. Council on Affordable Housing rules, which will calculate how many affordable units will need to be created elsewhere in the town as a result of the development, are expected to be finalized at the end of the year.
Mr. Knights said that he expects a solution for the creation of these units will be reached and the project will continue to move forward.
The 90 acres slated for development is part of a 488-acre site purchased by Princeton-Forrestal in 1986 between Independence Way and College Road on the southbound side of Route 1. It was once part of the Princeton Nurseries.
Under a deal completed in December 2004, Princeton-Forrestal transferred 66 acres directly to South Brunswick, 70 acres to the state and another 70 acres to be owned jointly by the township and the state. In exchange, the township rezoned 156 acres to allow for the development of the science facility.
Princeton-Forrestal also was required to lay new water lines along Ridge Road, and create a new road connecting at Independence Way, running through the park, and back to Route 1.
