We are starting to see a recovery in the housing market.
That, according to Corey Wescoe, director of land acquisitions for the Northeast Cooridor for the Pulte Group. as they were prepared to begin as soon as possible construction on the 18-unit development, which was originally approved in 2008.
Recently, environmental remediation and pavement milling began in what once served as a parking lot, which closed following the opening of the Dehart Street Parking Garage four years ago. It had since sat vacant, crumbling and underutilized.
The project, now called "Morristown Square," calls for 18 three-story townhouses encompassing 2,300 to 2,400 square feet each, with two-car garages, over about one acre of land. Pricing, according to the new sign fronting Maple Avenue, advertises from the upper $600,000s.
Still, compared to other developments in Morristown, including 40 Park, The Highlands at Morristown Station and Dehart Commons, Wescoe said, "we think we'll be a very nice value."
Despite a continued sluggish economy and shaky housing market, he said those developments were "a great example of why this town still draws [buyers.]
"They sold through," Wescoe said. As for Morristown Square, "we think there is lots of demand."
That, he said, includes a "VIP list" of buyers already interested in the project, which has not even begun being built yet. Wescoe said, however, Pulte hoped that would begin within three-to-four months.
"Morristown will be proud of this once it's built," he said.