Hillsborough Apartments

• Well Located Along Pharma Industry Corridor
• Near Transit Oriented Walkable Downtown
• 60 Minutes to NYC by Train
• 30 minute drive to New Brunswick

Property Description

Located in highly desirable Hillsborough, this fully approved development site has 96 shovel-ready luxury apartment units. The development plan outlines a 3-story stick construction with surface parking and light site work, offering an affordable project that holds immense potential for investors and developers.However there is no Tax Pilot and calls for a breakdown of 73 market rate and 23 affordable (COAH) units. Amenities include fitness center, pool, outdoor lounge and a modern clubhouse. With a project estimated to be stabilized with $2.1m~ NOI, a developer is poised to capture great value with this shovel ready site.Hillsborough offers a wide range of convenience such as a short commute to either NYC or downtown Philadelphia. Near-by is the walkable downtown area of Somerville which includes a vibrant mix of restaurants, shops, and the Somerville Train Station. Hillsborough also contains a large park system perfect for hiking. Within a 10 minute drive are RWJ University Hospital Somerset, Central Jersey Airport and Duke Farms