The Plainsboro Planning Board recently unanimously approved a mixed-use development project for a 109-acre tract of land.
The property, known as the Princeton Nurseries site, will get retail, housing, a hotel and office space as part of a multi-phase project that has been years in the making.
“We look forward to bringing the town’s vision for this property to fruition and becoming an important member of the Plainsboro community for years to come,” Chris Erb, vice president of development for Russo Development, said in a statement.
The property is owned by WRV Nurseries, LLC, which is a joint venture between Woodmont Properties, Russo Development and Vision Real Estate Partners.
Back in 2020, Plainsboro came up with a general development plan for the site, which from 1913 until 1995 operated as a commercial plant nursery, at one time the largest in the country.
The property was zoned for office and research but since that market was lagging, Princeton University asked Plainsboro around 2018 to do the general development plan and rezone it, Mayor Edmund C. Yates told NJ Advance Media.
“That gave us control over what’s built,” he said.
The township wanted to create a neighborhood that has a main street component, according to the general development plan.
“It brings a lot of diverse housing to the town,” Yates said, because the plan includes apartments and townhomes ranging from one- to three-bedrooms, single family homes, age-restricted housing and affordable units. Some will be rentals and some will be for sale.
The two phases of the plan that were approved so far include 853 housing units and a third phase, which has not yet gone before the planning board, could bring that number to 950. About 96 will be affordable housing, he said.
“It gives our current and future residents a diverse pick of different types of housing,” the mayor said. “They can start in a one-bedroom and move up to a three-bedroom all while staying in the town.”
The development is designed to be a walkable community with an amphitheater, space for a farmer’s market and other events and 40% of the 109 acres will be kept as open space — 10% more than the general development plan required, he said.
It will also add $900,000 to the municipal budget and $3.3 million to the school budget, Yates said, adding that it was tax-exempt when it was owned by Princeton University.
“We believe it’s a great development and we’re anxious to see it built out,” he said.
WRV Nurseries bought the land in January 2024 and were granted preliminary and final site plan approvals on June 16.
The resolution approving the project will likely be memorialized at the planning board’s August meeting, said Bonnie N. Flynn, Plainsboro’s planning and community development director.
The project will be done in phases. In addition to the housing, phase one includes about 85,000-square-feet of retail, a community clubhouse and 80,000-square-feet of office space.
Phase two would include a 125-room hotel with about 6,000-square-feet of retail or a restaurant, another building with about 10,000-square-feet of retail and a third building with 30,000-square-feet of retail that’s earmarked as a grocery store.
Construction is expected to begin later this year, a representative for the developer said.
“We would expect the mixed use portions of the project to come online by late 2027 or early 2028,” he said, “and the first phases of townhomes to come on the market about the same time.”
Are you an agent, buyer or seller who is active in this changing market? Do you have tips about New Jersey’s real estate market? Unusual listings? Let us know.
More N.J. real estate news
Stories by Allison Pries
Thank you for relying on us to provide the local news you can trust. Please consider supporting NJ.com with a subscription.
Allison Pries may be reached at apries@njadvancemedia.com.