International Capital President/CEO Andreas Bremer speaks at the Princeton Crossroads Development groundbreaking as Christiane Hepfer, the founder and chairman of International Capital, looks on. (Wyndi Veigel/The Princeton Herald )
Princeton is at a crossroads, literally, as growth on the eastern side of town is now a reality thanks to the Crossroads Development.
A groundbreaking ceremony for the project was held Wednesday, Dec. 12 on the land located on Hwy. 380 east of Princeton High School next to Boorman Lane. The ceremony was hosted in conjunction with Range Realty Advisors, International Capital and Princeton Economic Development Corporation (EDC) and Community Development Corporation (CDC).
The process for the development started more than two years ago and the 297 acres includes single-family residences, hotels, retail, future city hall, medical, future city park and more.
One of the most important portions of the project are infrastructure improvements planned for the area that total $6.6 million and include a 12” water line ($1.1 million), on-site sanitary (including lift stations) ($2.6 million), off-site sanitary through QT properties ($637,776), off-site sanitary – city phase II ($456,867), town center city tract improvements (794,296), project management ($284,611), right-of-way ($257,304) and PID creation cost ($450,000).
By Wyndi Veigel • News Editor • [email protected]
For the complete story see the Dec. 20 edition or subscribe online.
0 Comments