AvalonBay Communities Inc. is the lead developer of a $350 million, mixed-use project known as W Squared, which will bring more than 800 units of housing, retail and public space to the Princeton Junction train station in West Windsor, as depicted in this rendering. — Courtesy: AvalonBay
By Joshua Burd
AvalonBay Communities Inc. has taken its first steps toward transforming an outdated office complex in West Windsor, where plans call for more than 800 units of housing, retail and public space as part of a vibrant destination at the Princeton Junction train station.
The multifamily builder, which is spearheading the $350 million project, said Monday that it’s moving ahead at the 25-acre tract after recently securing site plan approval from the township’s planning board. Ron Ladell, a senior vice president with the company, said it will spend the coming year demolishing the 12 office buildings and performing site work and infrastructure upgrades, while also erecting a parking structure for the development off Washington Road.
That will allow AvalonBay to create pad-ready sites by 2023 to begin vertical construction alongside its co-developers. The company itself will build 535 apartments, while Atria Senior Living and Welltower Inc. will construct 135 assisted living units and Pulte Homes will develop 150 townhomes and 48 condominium apartments.
The team has dubbed the project W Squared.
“AvalonBay is very pleased to lead this transformative project that will bring a mix of housing choices and retail options at the doorstep of one of New Jersey’s busiest train stations as well as provide an extensive interactive public space for our West Windsor neighbors,” said Ludivine O’Toole, a senior director of development at AvalonBay. She noted that the apartments will range from studios to three-bedroom units, with amenities such as a fitness center, co-working space, a rooftop lounge and deck, a heated outdoor pool and others.
Local officials have also approved 21,300 square feet of commercial and restaurant space and a 1.5-acre public promenade, including a pavilion to shelter community events, several seating areas and an interactive fountain play area for children, according to a news release. AvalonBay will manage the construction of an off-site public improvement to align Washington Road to Princeton-Hightstown Road to ease regional traffic.
The sweeping redevelopment is years in the making and would be among the largest suburban projects in central New Jersey, creating a range of housing choices and price points at one location. That will include the senior living community developed and owned by a joint venture of Atria and Welltower, with the former slated to manage the property after completion.
“We believe in the potential of this development to help New Jersey seniors to live their best lives,” Atria Senior Living Chairman and CEO John A. Moore said. “Within the next 10 years, the number of people above the age of 80 will be at its highest levels in history, and there is significant demand for senior living communities that can protect, nurture and enrich the lives of older adults. We are happy to partner with the outstanding team at Welltower and work alongside AvalonBay on this exciting mixed-use development and revitalization.”
Monday’s announcement comes eight months after AvalonBay announced its co-developers at the site.
“We are excited to work with a fantastic group of partners in bringing state-of-the-art housing options to seniors living in this dynamic section of the Northeast Corridor,” said Michael Ferry, a Welltower senior vice president and head of global development. “Mixed-use housing providing walkable access to comprehensive retail offerings, a large public promenade and a vital transit hub, will allow for active and engaged lifestyles for the area’s senior population.”
PulteGroup Northeast Corridor Division President John Evans noted that W Squared will add to the homebuilder’s growing portfolio of transit-oriented developments in New Jersey.
“We will offer three collections of high-quality home designs that will appeal to every buyer looking to create their dream home at Princeton Junction,” Evans said. “Perfectly located in a top school district and offering the convenience of a walkable lifestyle, this community is poised to become one of the state’s go-to destinations.”
The announcement comes nearly three years after AvalonBay detailed its initial plans for the site, for which West Windsor approved a redevelopment plan in 2009. An earlier proposal by Intercap Holdings never came to fruition, but AvalonBay has worked with township officials in recent years to revive and refine a project that would create a vibrant downtown for the municipality.
“Residents have waited for many years for the redevelopment of this site near the Princeton Junction train station,” West Windsor Mayor Hemant Marathe said. “The mix of housing types and retail makes this project unique. This development will make an area that is currently underutilized and run down vibrant once again.”
Marathe added that the development will also serve as a piece of a bypass from nearby Vaughn Drive and as a starting point for what’s known as the Penns Neck Bypass. Both bypasses will help relieve pressure on Washington Road.
“I am excited to see the project become reality,” he said.
