Work has resumed on the former Princeton Luxury Apartments following a month’s pause as the new owner negotiated with the city over fees owed by previous owners of the property next to Walmart.
“They have a conditional permit to ‘dry-in’ the buildings, that is a permit to seal the exterior of the buildings,” Craig Fisher, director of development services, said this week. “We are working on getting them to a full permit.”
Blóm Capital is in the process of completing four residential units, a clubhouse and pool, said Joseph Sebastien, Blóm CEO and founder.
The city had billed the developer more than $600,000 for fees on the project at 599 W. Princeton Drive (U.S. Highway 380), now renamed Ironwood at Princeton.
“With over $5.5 million in liens from prior ownership now fully paid … we’re working with the city on a payment plan and remain committed to our ‘Princeton First’ strategy — prioritizing local hiring and vendors throughout the project,” he said.
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By Bob Wieland | [email protected]
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