By Tina Traster
The Hunterdon County township of Raritan is preserving 48 acres near Route 202 after acquiring the property, according to a broker with NAI James E. Hanson.
The property, located at Sergeantsville Road and Bonetown Road, is open, wooded land containing varying topography with frontage on three streets and access from several neighboring residential neighborhoods, according to a news release. But despite its development potential and approvals for 19 single-family lots, seller Eden Holdings worked closely with the township of Raritan, Hunterdon County and the Green Acres Program to preserve the land for future generations.
NAI Hanson’s John Schilp represented both parties.
“For those who live in New Jersey, we’re well aware of how developed the state has become over the past few decades,” Schilp said. “In an attempt to protect, preserve and enhance New Jersey’s historic natural environment, townships are collaborating with counties and state agencies in order to preserve our dwindling open space. Whether through the creation of recreational options or simply preserving space as open land, these types of transactions help illustrate the additional opportunities available for landowners hoping to find a useful second life for their properties.”
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.