AvalonBay announces co-developers for $300 Million mixed-use redevelopment project
West Windsor, NJ — AvalonBay Communities, Inc., one of the nation’s leading multifamily developers, is partnering with Pulte Homes, Atria Senior Living and Welltower Inc. to transform the 25-acre property at the door of the Princeton Junction train station into a $300 million mixed-use residential and retail community. AvalonBay will lead the transformation from a largely deserted and obsolete office complex into a thriving mixed-use hub of multi-modal transportation, public space, retail and a range of residential housing for all demographics.
“We’re tremendously excited to lead, with our co-developers, the next stage in the transformation of Princeton Junction’s transit village”, said Ron Ladell, AvalonBay senior vice president. “By selecting Welltower and Atria to jointly develop the senior living community, we are partnering with the best-in-class senior housing developers and owners. Further, we are pleased to announce that Pulte Homes will be developing both new construction townhome and condominiums that will appeal to a wide variety of residents.”
“The one-of-a-kind project encompasses 535 multifamily apartment homes by AvalonBay, 135 senior housing apartments by Welltower/Atria and 48 condominium flats and 150 for-sale townhomes both by Pulte, along with a very large public promenade bordered by retail space,” said AvalonBay vice president Scott Fishbone. “As a further example of the uniqueness of this overall development, residents can choose from rental housing that is or is not age-restricted along with for-sale housing, with all residential options only steps away from one of the most active train stations in the entire Northeast.”