Ninety new housing units expected to be constructed, serving various economic needs
Haddonfield’s Board of Commissioners announced on Feb. 14 that it, along with 2 Hopkins Lane Renewal, LLC, have completed discussions and negotiations concerning the redevelopment and financial agreements for the Bancroft Redevelopment Project.
Under this new agreement, 2 Hopkins Lane purchased a plot of land on the Bancroft Hall site measuring 13.15 acres, which is located on the east side of Hopkins Lane adjacent to county park lands to the north and east.
Regarding the redevelopment agreement between the parties, the project is expected to consist of 90 residential units. Eighty of those units are termed “age-targeted,” meaning such residences are aimed at residents whose minimum age is 55 years old, and who will not have minor children residing in the home.
The remaining 10 units will be converted into so-called “affordable housing” units. By state mandate, all municipalities in New Jersey must make allowances for such accommodations.
The 80 “age-targeted” units will be built to a maximum average of 2,250 square feet, with a maximum of three bedrooms per unit as well as covered garages. Per the agreement, there will be no basement or habitable attic spaces in any of the 90 units. Floor plans for all units will be presented to the Planning Board for review, and are subject to alterations by the developer.
At a previous Board of Commissioners meeting on Feb. 12, Commissioner Jeffrey Kasko revealed he believed any low-income housing units would be integrated throughout the borough, rather than simply placing them all in one place i.e. the Bancroft Hall site. Kasko also hinted that a resolution in the lawsuit brought by Cherry Hill-based Fair Share Housing Center was nearing a conclusion.
In addition, Commissioner John Moscatelli added residents should not “be scared of the term ‘affordable housing’” since he stated it is intended to serve not only low-income families, but also those with stable jobs who might not otherwise be able to afford to purchase or rent a dwelling in the borough.
Per the financial agreement between the parties, the land on which the new construction will take place will be taxed as all other land in the borough. However, as individual units arise from future construction, the land on these units will be exempt from normal real-estate taxation. The amount of exemption for these units will increase or decrease each year depending upon the same levels of increase or decrease applied to other properties in the borough.
Borough commissioners announced the framework of an agreement to purchase the 19.22-acre Bancroft property from developer J. Brian O’Neill back in January 2016 for a price of $12.2 million.
Haddonfield purchased the property by signing an agreement between Bancroft School and 2 Hopkins Lane, LLC, the buying company of O’Neill and his Recovery Centers of America. The borough paid $12.9 million, which was split between Bancroft at $11.5 million and 2 Hopkins Lane, LLC, at $1.4 million, according to a Sun article from October 2017.
The developer, 2 Hopkins Lane LLC, and the borough then entered into an agreement after 2 Hopkins had already purchased the property and proposed to build a drug and alcohol treatment facility next to the high school, to the consternation of community members. Under the original agreement, the borough purchased the Bancroft property, leaving the developer with the right to develop the residential portion.
In April 2016, at the recommendation of the Planning Board, the commissioners adopted a Redevelopment Plan to turn the Bancroft site into “age-targeted” living facilities.
Last April, in a public meeting at Borough Hall, the developer was able to discuss plans moving forward and gather resident feedback. For a price of $500,000 per townhome, residents expressed two primary concerns: older residents will not be able to downsize and afford these units and they will attract more families with children, and overcrowd the schools.
According to the architect for the project, Josh Eckert, the site would also include concessions to the increase in population and vehicular traffic. To improve traffic conditions in the area, he said at that meeting, a left-turn lane would be added on Kings Highway for traffic moving toward Cherry Hill, and coming from Cherry Hill, a right-turn lane will be added to Hopkins Lane. The road would not be expanded, only turn lanes would be added.
Both the redevelopment and financial agreements between the borough and 2 Hopkins Lane Renewal, LLC are expected to be included in the Feb. 26 agenda of the Board of Commissioners meeting. Be sure to check back with the online version of the Sun for an updated story on Feb. 27 regarding the meeting’s outcome.
In advance of the upcoming meeting, the redevelopment and financial agreement, along with supplemental documentation, has been uploaded to the borough’s website for public review and can be found at http://www.haddonfieldnj.org/latest_news/bancroft_site_redevelopment_plan.php.
These documents, along with additional detailed project documents, may be reviewed in person at the Clerk’s Office, Room 101 of Borough Hall, Monday through Friday from 8:30 a.m. to 4:30 p.m.
For more information, contact Borough Administrator Sharon McCullough at: [email protected].
