Town Will Require Developers to Ante Up

EATONTOWN, NJ-The borough council here has passed an ordinance that will require developers with new projects in the community to contribute to an affordable housing account. Located about 30 miles southeast of Newark, Eatontown is a Monmouth County community of only 15,000. But its location at the crossroads of US Routes 35 and 36 near the Garden State Parkway has made it a development mecca, including such properties as the 1.5 million-sf Monmouth Mall and a number of other major office and retail assets.

The ordinance resulted from ongoing litigation between Weston Associates and the borough over affordable housing. Weston wants to build 400 units near Monmouth Mall, but its affordable housing responsibilities were at issue because the borough has no affordable housing plan. A court-appointed planner had recommended that existing ordinances be revamped to clarify developers’ responsibilities in such cases.