Township of Cranbury Minutes Regular Meeting 2026-04-27
Walters-Cornerstone Named Redeveloper for South River Road
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Description
The Township designated Walters-Cornerstone Development LLC as redeveloper for Block 5, Lot 18 and approved an Amended and Restated Development Agreement. Cranbury will loan up to $30,000 from its affordable housing trust fund and convey the site to support a three-phase, 165-unit affordable family rental project.
Contract Details
Contract Amount
Up to $30,000.00 in loans ($10,000.00 per phase)
Vendor
WALTERS-CORNERSTONE DEVELOPMENT LLC
Agency
Township of Cranbury, NJ
Contract Type
OTHER
Document Date
April 27, 2026
Renewal Info
This action amends the 2025 Development Agreement with Walters to remove the former Family Premises and substitute the new redevelopment project at 1260 South River Road; future extensions would follow redevelopment law terms, which are not detailed here.
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Township of Cranbury Minutes Regular Meeting 2026-04-27
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