Pulte Homes is in the process of making a deal with the New Jersey Clinton Township council to sell 292 acres of its Windy Acres development for $7 million, with the condition that the town purchase the property before year's end; in turn, Pulte will drop a lawsuit against the town that has been ongoing for approximately five years.
"This is attractive to both parties," said Clinton Township council president Kevin Cimei. "Pulte is working hard to make a deal that works for everyone. The timing is all Pulte's tax driven concerns."
Calls to Pulte Homes were not immediately returned.
Windy Acres has been riddled with issues since Pulte purchased the property in 1999 for $13.6 million. Originally hired by the landowner in 1997, Pulte brought forward plans to build 1,140 units on the property. In 1999, Pulte purchased the property and scaled back the development to 1,019 units, but the council rejected the plans based on historical and environmental concerns. To date, nothing has been built on the property.
With the township purchasing the land, Cimei said the design concept has 30 acres of the frontage being developed for affordable housing with the remaining 262 acres saved as open space.
Cimei said the town will use funds from open space money, affordable housing developer fees, or possibly through a bond. He also said that there may be shared payments with other interested parties such as New Jersey Green Acres.