RACER Trust has sold a former industrial property in Ewing Township, N.J., to Parkway Town Center Urban Renewal LLC. The property will be transformed into a mixed-use development dubbed Ewing Town Center. The 80-acre site was formerly used by General Motors for auto parts manufacturing, before its operations halted in 1998. RACER worked to address environmental impacts to the site and prepared it for redevelopment and use.
“We are very pleased to have sold this property to a company with demonstrated development success over many decades, and look forward to what is sure to be a transformative project that will provide new housing, job opportunities and other benefits for the community,” said Elliott Laws of EPLET LLC, administrative trustee of RACER Trust, in a prepared statement. “The RACER team worked very closely with PTCUR, the New Jersey Department of Environmental Protection and community leaders over time to make this transaction possible, and I thank everyone involved for their commitment and determination.”
The project will serve as the new town center for Ewing Township, comprising 1,182 residential units, as well as 110,000 square feet of retail and office space. The development will be constructed in five phases, starting with 164 apartments and a community green space. Construction is scheduled to begin immediately. According to communitynews.org, the project will be developed by Atlantic Realty and 10 percent of the housing will be designated for state-mandated low- and moderate-income housing.
Phase two of Ewing Town Center will include 446 units—81 apartments about a four-story mixed-use building and 59 affordable units—as well as 33,174 square feet of ground floor retail and 6,300 square feet of office. Phase three will produce 270 apartments, 29 of which will be affordable, along with 7,167 square feet of retail and 6,300 square feet of office. Phase four will bring about 192 residential units—110 above a four-story mixed-use building and 16 affordable—68,752 square feet of ground floor retail, a maintenance building and 32,000 square feet of storage space for exclusive use by residents. Lastly, phase five will comprise the remaining 90 apartments. All the commercial construction will be built at the front of the site to create a main street along Parkway Avenue.