Project Summary: 270 Irvington Ave | The Peaks at South Orange
A redevelopment plan has been approved for a 60-unit mixed-use housing development for 270 Irvington Avenue The redevelopment plan includes 12 units of affordable housing. The full 60 units will be spread out across two properties at 270 Irvington and across the street at 299 Irvington Avenue. The project will include between 10,000 to 15,000 square feet of commercial space.
By the Numbers:
5-year short-term tax abatement stepping up each year: 20, 40, 60, 80 to 100%.
Expected tax impact:
Affordable Housing Component:
January 2021 – Redevelopment Plan approved
January 2021 – Conditional Redevelopment Agreement approved
Fall 2021 – Site plan to be submitted to Planning Board for approval
Estimated Project Duration: 2 years from Planning board approval