Larison Update

At the Mayor and Council meeting of February 4, 2025, the Council voted to direct the Borough professionals to enter into a Memorandum of Agreement and Settlement Agreement with Global Acquisitions, LLC., for the development of the Larison property. The new Settlement Agreement replaces the agreement signed in October of 2018 which included a CVS, medical office building, 36 affordable housing units and the potential redevelopment of the Larison restaurant.

Due to a series of events, Global Acquisitions was no longer able to perform on the 2018 agreement.  Over the last year, the developer brought several ideas to the Mayor and Council for its consideration. The proposal presented on Tuesday satisfied the governing body.  The proposal includes:

• 24 Affordable Housing Units
• 66 market rate townhomes at the Larison corner, developed by KHovanian Homes
• 20 luxury market rate townhomes on Mill Ridge Lane
• A Chik-Fil-A
• An Alstede Farm Market utilizing the original portion of the Larison Restaurant (the original Topping house), developed by the Alstedes. Alstedes will also farm much of the 14 acres behind the property.

Once the agreement between the developer and the Borough is completed and it is approved by the court and the Fair Share Housing Center, which has standing in the NJ Courts to advocate on behalf of affordable housing, the developer will present his plan to the Borough’s Land Use Board for review.  We expect this process to take at least a year, if not more.

Updates will be provided on the Borough website.

Mayor Hoven

New concept and floor plans can be viewed here:

• pdf Fairfield Building 1-15 Units (767 KB)
• pdf Stacked Townhome Floor Plans (4.73 MB)
• pdf Proposed Restaurant (4.11 MB)
• pdf Town Center Concept Plan (1.31 MB)
• pdf Affordable Stacked Townhouse Condominium Floor Plan (283 KB)