CWP-ASR Somerset I & II LLC Affordable Housing Conversion
Description
Conversion of existing hotel buildings into 142 affordable units with a 40-year tax exemption/PILOT at 4% of gross revenue and $3.5 million from the township's affordable housing trust fund.
Impact summary
Adds 142 very low-, low-, and moderate-income homes near the Davidson Avenue transit corridor, with the PILOT spreading foregone tax revenue across other taxpayers.
Applicant
- Name
- CWP-ASR Somerset I LLC & CWP-ASR Somerset II LLC
- Address
- Block 468.01, Lot 15.01 (260 Davidson Avenue corridor)
At a glance
- Hearings
- 2
- Public comments
- 0
- Total mentions
- 2
Last vote · City Council
Discussed at 2 meetings in the last 60 days; most recently Oct 13, 2026.
Meeting timeline (2)
Franklin Township Council Work Session/Regular Meeting - Oct 13, 2026
Conversion of existing hotel buildings into 142 affordable units with a 40-year tax exemption/PILOT at 4% of gross revenue and $3.5 million from the township's affordable housing trust fund.
Franklin Township Council Work Session/Regular Meeting - Sep 22, 2026
Conversion of existing hotel buildings into 142 deed-restricted affordable rental units, backed by a 40-year PILOT, a $3.5M trust fund allocation, and a development agreement adopted by consent.
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