Units Going Fast At New, 100%-Affordable Princeton Senior Living Complex

View of the new ‘Princeton Senior Living’ apartment development on Thanet Circle

A new 55+ community, “Princeton Senior Living”, is now open at 500 Thanet Circle in Princeton (map). At an opening reception on Wednesday, February 21, local elected officials, representatives of area non-profits, and members of the local community had a chance to tour the new apartment complex and meet with management, who shared details about how quickly the new units are being filled.

The new ‘Princeton Senior Living’ apartment development on Thanet Circle

“Princeton Senior Living” was constructed on a site that was formerly a derelict office complex. It is operated by Conifer, a Rochester, NY-based company that operates 210 apartment communities in New York, New Jersey, Pennsylvania, and Maryland. The new development features 80 apartments, which are a mixture of one-bedroom and two-bedroom units. It was built to meet Princeton’s state-mandated affordable housing obligation, as agreed in 2019, which required the town to build hundreds of new affordable units (see our report “Revised Princeton Affordable Housing Plan Envisages Over 700 New Homes“).

Princeton Mayor Mark Freda gives remarks at the opening of the Princeton Senior Living development. Also pictured are Jeff Baker and Lucin Colakoglu-Meyer from the management company.

The launch event was attended by Princeton Mayor Mark Freda, Council President Mia Sacks, and Council Member Eve Niedergang. Mr. Freda has a long-standing commitment to the Princeton Fire Department, and had already visited the new development to check fire safety. He called it a “a great property, a great opportunity for seniors in our community”. Ms. Sacks expressed her pleasure at the completion of the new development, which she had worked on for four years. She noted that it is a challenge for many seniors to find an affordable place to live in Princeton, and hoped that the new apartment devleopment would make that easier. Ms. Sacks also thanked former Princeton Mayor Liz Lempert for doing much of the original groundwork to make the Princeton Senior Living project happen.

Literature advertising events and services from the Center for Modern Aging (formerly Princeton Senior Resource Center)

Also present at the event on Wednesday was Drew Dyson, representing the Center For Modern Aging Princeton (formerly known as the Princeton Senior Resource Center). Mr. Dyson explained how the Center for Modern Aging would provide social services and activities at the Princeton Senior Living site. They will have staff on-site several days a week, and will help organize activities to ensure that residents have a chance to be fully integrated into the Princeton community. Their staff will also provide caregiver support, assistance with benefits applications, and a ‘HomeFriends’ program, where volunteers will visit with the apartment residents.

The Avalon Princeton Circle development, as viewed from Princeton Senior Living

Princeton Senior Living shares a site with the “Avalon Princeton Circle” development, which was also constructed as part of Princeton’s 2019 affordable housing settlement. Although the developments are operated separately, their construction was linked. Avalon Bay donated the 2.2 acres of land for the Princeton Senior Living project. The town of Princeton also made a multi-million dollar contribution to allow it to be a 100%-affordable development. The municipal contribution was so large that the court required the town of Princeton to demonstrate an income stream to pay for the debt service. The town was able to do this by negotiating a PILOT agreement with Avalon Bay for Avalon Princeton Circle. That PILOT agreement therefore enabled the constuction of the 100%-affordable Princeton Senior Living development.

The 80 units of affordable senior housing at Princeton Senior Living add to 11 additional affordable units at Avalon Princeton Circle, which includes several units for people with special needs. The Thanet Road site therefore provides 91 units of affordable housing, making it the biggest single contributor to the town’s state-mandated affordable housing requirement. By prioritizing a large affordable apartment development for seniors, the town also reduced the number of new families with school-age children who might move to Princeton as part of its affordable housing settlement.

Bedroom in in new Princeton Senior Living development

Residents started moving into the Princeton Senior Living Development in December 2023. As this is a state-regulated affordable development, every unit is rented according to specific regulations, and only households with income up to a certain range are able to take advantage of these units. The amount that residents pay depends on their income. For a one-bedroom unit, that currently starts at $653 per month for residents with income below 30% of the local annual median income ($26,250 for a single-person household). Households with incomes up to 60% of the area median income would pay $1,363 per month for a one-bedroom unit. (Current rental rates and income thresholds are detailed in the residency application form.)

Kitchen in two-bedroom apartment at Princeton Senior Living

Every unit has a full kitchen, and is designed with the needs of seniors in mind, with low counters and walk-in shower. The building has all-electric heating and air-conditioning, in line with the town’s sustainability goals. Electric vehicle charging is available. The apartment development is also a short walk from the Princeton Shopping Center, and is served by Princeton’s “MUNI” bus service.

Balcony overlook at Princeton Senior Living

All the apartments also have a balcony, overlooking the wooded site. Residents can also benefit from an adjoining community garden, where they can plant vegetables or grow flowers. As part of the town’s development agreement, extensive stormwater mitigations were added to the site as part of the construction of the Avalon Princeton Circle and Princeton Senior Living developments. Stormwater run-off has now been reduced to pre-development levels, which means that it does not contribute to potential flooding any more than an undeveloped site would.

Fitness Center at Princeton Senior Living

The apartment complex also features a number of amenities including a fitness center, bike storage room, and games room.

Resident patio at Princeton Senior Living apartment development

The Princeton Senior Living community appears to be an outstanding addition to the residential options available to over-55s in the Princeton area, but it is filling up quickly. Staff from the management company advised that as of February 21, only 14 units were left unrented, and they expect to get to full occupancy by the end of March. People who would like to move in are advised to send in an application as soon as possible. Applications are not accepted on site, but a link to the application form is below.