?Ordinances introduced by the Township Committee on Monday could mark a major step forward in the development of hundreds of new homes on a long-vacant tract of land off Indian Trail Road. Ryan Homes has plans to build 340 homes on the site in the Burleigh section of the township, including single-family homes, townhouses, and affordable housing units as part of the township’s approved housing plan, which was negotiated with the Fair Share Housing Center.

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Though the project is still in the early stages, there are several steps remaining, including a review by the township’s Planning Board. Township officials clarified at the Monday meeting that the township won’t receive the first of two substantial payments until all approvals are in place and any appeal periods have passed.

The deal has been in the works for years and could generate millions of dollars in revenue for the township, along with new properties on the tax rolls, Mayor Christopher Leusner noted. James Maley, a redevelopment consultant who has worked on the project, described the deal as extremely complex, saying it could serve as a case study in real estate law for years to come.

The complexity stems from the property's history. Originally slated for a housing development, the land was acquired by two developers who divided ownership by parcel rather than forming a partnership. When the economy shifted and the original plans fell through, one of the developers defaulted on their portion, leaving the township in possession of 128 of the 306 parcels, alongside the estate of developer Thomas Tower. The resulting ownership structure created a fragmented "checkerboard" of properties, some of which were sold, leaving few straightforward options for moving forward.

The site was designated as an area in need of redevelopment more than five years ago, and, as Maley explained, the negotiations to move the project forward have involved multiple parties: Ryan Homes, township officials, and the Tower family.

Maley said the township has also negotiated the purchase of about a dozen parcels that had already been sold. "There are about 25 properties left to acquire," he said, noting that many of these are undeveloped lots within the project area, some with uncertain ownership.

The first ordinance introduced Monday authorizes the township to acquire these remaining parcels through either negotiation or condemnation. The market value of these properties is estimated to range from $900 to $19,980, and the township has approved a $200,000 bond to fund the acquisitions. The second ordinance authorizes the sale of the land to Ryan Homes for $17 million, with the township receiving $8.5 million of that sum. The deal also involves the Tower family and Atlantic-Cape Builders LLC.

Ryan Homes will pay half of the sale price upfront, with the second payment of over $4 million to be made later in the process, according to Maley. Atlantic-Cape Builders is set to purchase an additional section of the land for $15,000 per acre, or a total of $1.275 million, though Maley noted that portions of this land are restricted from development due to wetlands.

In addition to the expected influx of revenue, the deal would bring new properties onto the tax rolls and could provide more affordable housing options, Mayor Leusner said. It could also open up opportunities for young families to settle in the township. Several residents at the meeting raised concerns about the potential impact on local schools, with some fearing an increase in enrollment due to the new homes.

Leusner reassured residents that any additional costs to the school district would be outweighed by the new tax revenue. He also pointed out that some of the homes will likely be purchased by retirees or second-homeowners, who would not contribute to the local student population. He added that many local professionals, including teachers and police officers, have expressed a desire to live in the township but cannot currently find affordable housing. The Ryan Homes development, along with other residential projects, is expected to increase the overall housing supply.

“I think it’s a home run,” Leusner said.

Maley confirmed that the affordable housing component of the development will likely consist of rental units. Public hearings and final votes on both ordinances are scheduled for the Township Committee meeting on December 16 at 6 p.m. at Township Hall, 33 Mechanic St. Both ordinances were introduced unanimously on Monday.

Some residents suggested the township consider hiring an independent appraiser for the property or holding an auction to sell the land. However, Leusner and Maley defended the process, explaining that two national homebuilders had approached the township with proposals, and they were confident the deal was fair and well-vetted.