Jonathan Rose Companies
 
Speedwell Redevelopment Plan
Morristown, New Jersey

The Town of Morristown, in central New Jersey, is the county seat. Since colonial times, it has served as a regional hub, currently with a train station and major roadways. Jonathan Rose Companies serves as the town’s Planning Division focusing on redevelopment and land use planning to facilitate economically sound smart growth solutions and high quality urban design.

One of the town’s largest development proposals, Speedwell Redevelopment Plan and Developer Agreement, required major amendments due to the economic downturn and the developer’s inability to finance the project. In addition, citizen concerns remained unresolved with regards to affordability, open space, sustainable design, and a proposed roadway realignment that created a super-block.

Jonathan Rose Companies worked with the developer, city administrators, council members, and citizens to propose an amended plan. Through analysis of underwriting assumptions and public private partnership agreements, the Urban Planning practice revised the redevelopment strategy. With the developer and legal team, the Urban Planning practice developed negotiating parameters based on land valuation analysis, required investor rates of returns, tax structure, and financial capacity of the development to include affordable housing. The team also conducted a cost benefit analysis of the roadway realignment.

The financial models provided negotiating transparency and served as the basis for business terms to which parties agreed.

The revised redevelopment plan included affordable housing pursuant to the underlying
zoning ordinance. The LEED-ND inspired plan includes street patterns consistent with historic Morristown, contextual urban design and architectural standards, and green streets leading to a new park.
Speedwell_main


> View Next Project
> View All Urban Planning Projects

pdf Click to Download a Printable Version
 

Firm Role
Town Planner and Redevelopment Advisor

Project Profile
Public Private Partnership redevelopment of 55 separate downtown parcels with an 800 residential unit/ mixed-use development program, including affordable housing and open space.

Project Team
Developer: Trammell Crow / Mill Creek
Architect: Marchetto Higgins Stevie

Completion
Approved - 2011 (First Phase to break ground in 2012)