Amended Speedwell Plan to be Discussed Thursday

An amended Jonathan Rose Companies-produced Speedwell Avenue Redevelopment Plan has been posted on the Town of Morristown website.

The amended plan, which is calling to raise the amount of "affordable housing" in the plan from 5-percent to 10-percent,

Previous iterations of the plan had called for 20 percent of "affordable housing" to be included in the redevelopment of the Speedwell Avenue corridor. However, developers–and Mayor Tim Dougherty–have recently said that was no longer financially possible, with principal Rich Murphy going so far as to say the town would ultimately get nothing if they demanded the "affordable housing" component be 20 percent.

The 10 percent "affordable housing" component represents a compromise, which has been core issues for second and third ward councilmembers Raline Smith-Reid and Jim Smith, whose wards would be most directly affected by the redevelopment.

View the redevelopment meeting agenda and complete amended redevelopment plan in PDFs in this story.