The East Brunswick Township Planning Board was expected to review the final piece of the long-debated and litigated Golden Triangle redevelopment project this week.
During its meeting, set for 8 p.m. Sept. 5, the board was scheduled to review Toll Brothers’ site plan for 400 residential units on the property located at Route 18, Tices Lane and Old Bridge Turnpike.
The proposed housing complex includes 202 one-bedroom units, 182 two-bedroom units and 16 three-bedroom units, according to Gregory Potkulski, director of the township Department of Planning and Engineering. The residential section would be located near Old Bridge Turnpike, behind the Walmart store that received Planning Board approval earlier this year, Potkulski said.
The application also includes a parking garage to be used solely by residents, he said.
Potkulski said some of the residential units may be offered as affordable housing, and that could be discussed at the hearing.
Stahl said the addition of 400 residential units would help spread the property tax burden among residents.
“East Brunswick is predominately built up,” Stahl said. “There’s an opportunity for us to provide additional housing opportunities and at the same time continue to increase our [tax] ratable base, so that takes off pressure from those who live in town.”
Toll Brothers will pay the township a minimum of $550,000 per year based on a Payment in Lieu of Taxes, or PILOT, program, included in the redevelopment plan.
Stahl said he believes that both the residential component of the plan, as well as the Walmart and other new or expected commercial developments in the township, point to a strong East Brunswick economy.
“All are indications that the economy of East Brunswick is strong, and we remain a viable community in which businesses continue to make investments,” he said. “I’ve always stressed the totality of the strength of East Brunswick economics.
“Banking is difficult, capital markets are somewhat closed … but to me this is an indication both in the commercial and residential [sectors] that East Brunswick is healthy, and that’s all you can want is a growing community,” he added. The Golden Triangle redevelopment has been progressing since the board approved the razing of the former Sam’s Club structure at Route 18 and Tices Lane to make way for the 151,507-square-foot Walmart.
Toll Brothers anticipates the creation of 250 to 275 jobs. The business is approved to operate from 7 a.m. to midnight, seven days a week.
Earlier last year, the Township Council approved a settlement agreement with Toll Brothers, ending more than two years of litigation over the contract involving the township’s sale of the property to the developer.