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2012 Development Activity Report

2012 Development Activity Report

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Published by Morris County NJ
This report details Morris County's land development in 2012.
This report details Morris County's land development in 2012.

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Published by: Morris County NJ on Jul 31, 2013
Copyright:Attribution Non-commercial

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08/12/2013

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On the Cover
D
epicted on the cover is the rst phase of the
Speedwell Avenue redevelopment proj-
ect. The rst phase of this project includesthe construction of a 268 unit four storyapartment building (Latitude) above a 357 spaceparking garage. The parking garage consists oftwo levels below grade. The unit compositionof Latitude will consist of 36 studio, 121 one-bedroom, 57 one-bedroom with a den, 50 two-bedroom and 4 duplex units. Of the 268 units,26 apartments will be affordable rental units.Phase I of the Speedwell Avenue redevelopmentproject is being constructed on an assemblage oflots that formerly contained multi-family homes,a municipal parking lot, and the Morristown DPWgarage. Phase II and III of the project propose toredevelop the remainder of the block (east of therealigned Prospect Street to Speedwell Avenue)with three additional apartment buildings. Thecurrent plans proposed mixed use with retail orcommercial uses on the rst oor for the build
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ings with frontage on Speedwell Avenue. The Lati
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tude building is the largest building proposed forPhases I, II and III of the redevelopment project.Latitude reects the current trend for luxury rentalswith amenities in redevelopment projects for mul
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tifamily housing. The Latitude building offers suchamenities as a rooftop resort style deck, tness cen
-
ter, game room, lounge with replace, business cen
-
ter with computer stations, garage parking and up
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scale interior treatments, and is pet friendly. Masstransportation options are also within walking dis
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tance from Latitude as well as shopping, dining andnightlife opportunities. The rental housing marketis driven by young professionals and empty nesterswho prefer these amenities and proximity of tran
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sit, restaurants, entertainment, services and stores.The multifamily housing market is increasing. In aninformal survey, the Morris County Planning Boardidentied 23 multi-family rental projects in variousdevelopment stages throughout the county. A to
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tal of 6,434 residential units would be generated bythe build-out of these projects. With the soft ofceand industrial real estate market and limited avail
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ability of vacant developable land, most of theseprojects are proposed on sites that were zoned for,and/or developed as, commercial or industrial use.While demand for multi-family rental housing iscurrently high, municipalities and the develop
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ment community should monitor supply and de
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mand so that the market in Morris County is notoversaturated. While upscale multi-family rentalhousing is viewed as a “clean ratable” by most mu
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nicipalities, the density and design of this type ofresidential housing is best suited for locations inclose proximity to transit, services and shopping.
 
2013
Board of Chosen Freeholders
Thomas J. Mastrangelo, Director
 
David Scapicchio, Deputy Director
 
Douglas R. Cabana
 
 John Cesaro
 
Ann F. Grossi
 
 John Krickus
 
Hank Lyon
 
Administration
 John Bonanni, County Administrator
 
Mary Jo Buchanan, Assistant County Administrator
Department of Planning & Development
Deena Leary, P.P., A.I.C.P., Director
Planning Board
 Joseph Falkoski, Chairman
 
Steve Rattner, Vice-Chairman
 
Isobell W. Olcott, Secretary
 Ted Eppel
Ann. F. Grossi, Freeholder
 
Stephen Hammond, P.E., County Engineer
 
Thomas J. Mastrangelo, Freeholder Director
 
Edward McCarthy
 Everton Scott
 John Cesaro, Freeholder Alternate
 
Stephen Jones, Alternate No.1
 
Nita Galate, Alternate No.2
 
Christine Marion, P.P., A.I.C.P., Planning Director
 
W. Randall Bush, Esq., Attorney, First Assistant Morris County Counsel
Land Development Review Staff
Gregory Perry, P.P., Supervising Planner
 
 Joseph Barilla, P.P., A.I.C.P., Principal Planner
 
Rene Axelrod, Data Control Clerk
Graphics and Layout
Gene Cass, Supervising Cartographer
 
Carol Morgan, Principal Drafting Technician

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