Midtown Direct Real Estate News

Wow, 92 luxury 3 bedroom townhouses (priced from 800K to 1million) to be built on the old Verizon site at 250 South Street in Morris Twp. NJ 07960.  Now that will be interesting.  Of course the project is likely 3 years out at this point, since they need to get all the approvals and permits, and of course tare down the Verizon building of course.

It is surprising but there has not been any public opposition to the project so far according to Morris Twp. Mayor Nace.  Normally these sorts of projects seem to attract people who for one reason or another oppose development.  I did here some grumblings about a lack of affordable housing in Morris Twp. and Morristown, but when I thought about it, there are plenty of homes which are affordable to the working middle class here.

There is plenty of very middle class housing availible in Morristown / Morris Twp.

Here are some general price ranges for Condo Developments in Morristown & Morris Twp.
Vail commons - Morristown 450K to 600K
Rose Arbor - Morris Twp. 300K to 400K
Convent Mews - Morristown 325K to 375K
Village Dr. condos - Morristown 290K to 400K
Liberty Greens - Morris Twp. 450K to 600K
Morris Place - Morristown 440K to 510K
Parsons Village - Morristown 230K to 300K
Condos on Madison Ave, Morristown 170K to 250K

There are several other places in Morristown and Morris Twp. which are under 500K, not to even talk about the 80+ single family homes currently for sale in Morristown & Morris Twp. which are under 500K, Many under 400K.

Want to find Morristown NJ Real Estate for sale?

This development, just like Vail Mansion (700K to 1.2Million) is playing to the downsize community. These are people living in large homes, such as those in the neighboring Convent Station neighborhood, which they raised a family in, and are way to big for their current needs. Many times these same people are getting to the point where they can no longer maintain their own home without hiring everything out.

James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct