The Alice in Princeton, a 125-unit luxury and partially affordable housing development is now underway in New Jersey. Award-winning national developer and manager, WinnCompanies recently broke ground on the $63 million project.
The project’s funding will come from a construction loan issued by WSFS Bank, with Valley National Bancorp as a part lender. PS&S will handle architectural, landscape architecture, and engineering services, for The Alice project. While Conant Design Group will be the interior designer and WinnResidential, an arm of WinnCompanies will manage the project.
Gilbert Winn, the WinnCompanies CEO, mentioned that The Alice in Princeton would showcase all the capabilities of WinnDevelopment. Particularly, their gorgeous design, attention to resident needs as well as important environmental sustainability innovations and substantial community improvements.
The developer expects the project to be ready for occupancy in the summer of 2024. Upon completion, WinnCompanies expects the project to attain the passive house standards and Zero Energy Ready Homes certification.
The Alice in Princeton
The Alice in Princeton will be a 115,000-square-foot community situated at the intersection of North Harrison Street and Terhune Road.
It will offer a mix of one, two, and three-bedroom apartments, with a hybrid/work-from-home lifestyle design. The community will feature 62-bedroom apartments, 26 of which will have dens. It will also have 57 two-bedroom apartments with 28 of those featuring dens. Lastly, the remaining six units will be three-bedroom units.
Out of the 125 units at The Alice in Princeton, 100 will be market-rate apartments and 25 affordable will be affordable units. However, these affordable units will be reserved for residents with an area median income between 30 and 80%.
Featured and nearby amenities
Residents of The Alice in Princeton will enjoy access to a fitness center, a club room, work-from-home nooks, and a wellness space. What’s more, the community also includes a roof deck with grilling stations, a pet spa, an art gallery, and a children’s playroom.
The project’s location will provide a direct walking path to Princeton Shopping Center. In addition, it offers an easy commute through Route 1, New Jersey Turnpike, and the Princeton Junction commuter rail station. Residents will also have access to a shuttle service stop with circulation to transit stops and downtown retail.