The Township Committee is pleased to announce that it has achieved every goal we set out to accomplish several months ago when we made the decision to purchase the Birchwood property from the developer for $18 million.
We reduced the density of 360 units (which resulted after many years of costly litigation) to 225 units.
We eliminated a monolithic singular building and eliminated a massive, multi-story parking garage.
In its place will be a beautiful, aesthetically pleasing building that is consistent with the goals and objectives set forth by the Township Committee.
Last night, the Twp. selected and designated Garden Communities/Birchwood Developers Associates, LLC as the developer for Birchwood. You may remember that Garden Communities also developed the successful Riverfront at Cranford Station project which is 126 units, and was led by resident Tony DiGiovanni.
The bid we accepted is for $18.5 million for 225 units resulting in no debt to be carried by the taxpayers and a residential project we will all be proud of in Cranford.
The Planning Board will prepare a Redevelopment Plan for Birchwood property, Township will negotiate and execute a Purchase and Sale Agreement, a Redevelopment Agreement and consider whether a PILOT is appropriate. We expect that may be completed within 6 months, and upon receipt of site plan approval from the Planning Board, Birchwood Developers Associates will close on the property.