Report: Franklin Lakes Agreement Cuts 'High Density' Housing Proposal

Franklin Lakes officials have reached a tentative agreement with a developer looking to build high-density housing on the High Mountain Golf Club property, NorthJersey.com reported.

According to the report, the borough’s new agreement with the Toll Bros. luxury homebuilders reduces the proposed number of units in the development from 1,000 units to 275.

In the tentative agreement, 60 of the homes would be single family units on minimum half-acre lots, 160 would be condos with garages, and 55 would be affordable housing units, condos without garages, the report said.

Borough officials said the agreement, which comes after about a year of negotiations with the developer, is an improvement over other options that might satisfy the borough’s affordable housing obligations, the report said.

The two families that own the golf club have announced that at the end of the golf club’s lease in 2014, they will be closing the facility, the report said. Toll Bros. Has made an agreement with the families that says the developer will purchase the property if it can get approval to build high density housing on it, the report said.

According to NorthJersey.com, the borough council could introduce an ordinance to rezone the property next month. The ordinance would then be subject to Planning Board approval.