December 15, 2020
Somerset Development has sold a 15-acre property in downtown Somerville, NJ, paving the way for a new phase of its Somerville Station redevelopment. The site was purchased by AvalonBay Communities Inc.
With the acquisition, AvalonBay is set to commence construction of a new civic center, street-level retail, public plaza, NJ Transit parking facilities, and 374-unit apartment community – all part of Somerset Development’s master-planned vision for a mixed-use transit village in downtown Somerville. The project is anchored by its immediate connectivity to NJ Transit’s Somerville train station.
In addition to AvalonBay’s apartments, one of the nation’s largest homebuilders, PulteGroup, is building a new community of for-sale townhomes at Somerville Station.
“This project is the product of more than 30 years of complex planning and collaboration among the borough, NJ Transit and various stakeholders,” said Ken Gold, VP of acquisitions and development for Somerset Development..
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