Princeton Developer's Luxury Housing Plan Faces Backlash Over Affordability Concerns
In Princeton, New Jersey, a proposed luxury high-rise development by Herring Properties is facing significant opposition from local residents and historians. The development, planned on a site owned by the Princeton Theological Seminary, includes 238 rental units with a structured underground garage and possibly a rooftop swimming pool. Critics, including Princeton University professor Sean Wilentz and Vanderbilt University professor Jon Meacham, argue that the project is a profit-driven venture that threatens the historical integrity of the Mercer Hill neighborhood. This area is known for its modest, early American residences and historical significance, including homes once occupied by figures like Albert Einstein. The development promises to reserve 20% of its units for affordable housing, adhering to New Jersey's state law requirements. However, opponents argue that the remaining luxury units will exacerbate local inequality and that the affordable units could revert to market prices after 30 years. 
