Construction Progressing at The Residences At Palmer Square

New Development Offers Luxury Living In the Heart Of Princeton

Construction is progressing at The Residences at Palmer Square, the new luxury townhome and condominium community in the heart of downtown Princeton. The project, which is about one-third through its three-year timetable, is rising rapidly, with on-site construction cranes lifting the steel infrastructure into place.

Many years in the planning, The Residences at Palmer Square represents the culmination of the dream of developer Edgar Palmer, who in 1937 envisioned a European-style town square for the downtown that would serve as the borough's counterpart to the Princeton University campus, located on the opposite side of Nassau Street.

And although the retail and dining components of Palmer's vision - a collection of 40 brand-name stores, luxury boutiques and fine restaurants - have long been the centerpiece of Princeton's downtown, the luxury residential component of that vision is only now nearing completion.

Sales of these elegant homes, which are located on Paul Robeson Place between Chambers and Witherspoon Streets, will commence with a grand opening later this spring. The developer, the Palmer Square Management Co., is now forming a VIP list for the homes in Phase I, which range in price from $1.2 to $2.5 million.

The completed development will ultimately consist of 100 homes, including 17 townhomes and 83 condominiums, in seven buildings. The pedestrian friendly layout is highlighted by three main promenades that will integrate the development into the surrounding neighborhood by connecting Paul Robeson Place with Palmer Square.

"It's extremely gratifying to see this extraordinary development beginning to take shape," said Jay Goldberg, head of sales at The Residences. "With the steel going up, it's easier to get a sense not only of the quality of the construction, but also of the layout, which draws its inspiration from the pedestrian friendly courtyards and promenades of the university."

The first group of townhomes, which consists of 11 four-level, federal-style townhomes facing on Chambers Street and Paul Robeson Place, is expected to be finished later this spring and in the summer. The townhomes, which feature wood-paneled elevators and unfinished lower levels, range in size from 2,600 to 3,200 square feet of finished space.

Phase I consists of the 11 townhouses, as well as Victoria Mews East and West, each with eight condominiums ranging in size from 1,600 to 3,200 square feet. The first floors of the two three-story condominium buildings have been framed and steel is being erected for the second floors, with completion scheduled for the end of 2010.

Also under construction is the foundation and first-floor steel for the beginning of Phase II, which consists of Michelle Mews East and West, each with 26 homes. Like the Victoria Mews buildings, the Michelle Mews buildings, which are slated for completion in about a year, will be divided by a landscaped pedestrian promenade.

Still awaiting the start of construction are the remaining six townhomes; Esther Plaza East and West, located between Victoria Mews and Michelle Mews, which will each have six condominiums; and the seventh building, Avery Lane on Witherspoon Street, which will have two 4,000-square-foot condominium duplexes and one 3,500-square-foot condo flat.

Work is expected to begin on these buildings in 2011, with completion of the entire development slated for mid-2012. Each of the homes in the development is different, offering a wide range of choices for prospective buyers.

In addition to the quality of the construction -- the homes are built of steel and concrete for maximum quality and comfort, offer only the highest quality fixtures and appliances and boast extra-high ceilings and elegant finishes and millwork -- another attraction for prospective buyers is Palmer Square and the surrounding neighborhood.

The residents of The Residences at Palmer Square will have immediate access to the square's stores and restaurants, as well as to the historic Nassau Inn. In addition, the arts, entertainment and cultural offerings of Princeton are within walking distance, including the world-class productions of the McCarter Theatre and the Princeton University Art Museum.

Princeton also offers easy commutes to both New York and Philadelphia -- the train station is a short walk from The Residences at Palmer Square -- as well as to the shopping malls and corporate headquarters located in the nearby Route 1 corridor.

"The Residences at Palmer Square is absolutely unique," said Goldberg. "No other development in the metropolitan area can offer such a stunning combination of unrivaled luxury, immediate access to upscale stores and restaurants, easy access to New York and Philadelphia and an Ivy League cultural and intellectual climate."

The first five townhomes at The Residences will be ready for occupancy by early summer. Buyers who reserve early will have the opportunity to customize their homes through their choices of cabinetry, appliances and finishes. All of the homes at The Residences feature the opportunity to lease parking in the Hulfish Street Parking Garage.

The Residences at Palmer Square was designed by Lambertville, N.J.-based architect firm Minno & Wasko Architects and is being constructed by general contractor, MOD Construction Service, out of Princeton, N.J.

For more information, contact Roberta Jenkins or Sharon Bloodgood at (609) 924-3884, or visit the sales center at 53 Hulfish St., or visit the Web site at www.palmersquareresidences.com. The sales center hours are Thursday, Saturday, Sunday and Monday from 10 a. m. to 6 p. m. and Friday from 12 noon to 8 p.m. The sales center is closed on Tuesday and Wednesday.