Caldwell Ordinance Paves Way For More Affordable Housing

CALDWELL, NJ — A change to a zoning ordinance in Caldwell will pave the way for more affordable housing in the township, but could ultimately mean a rise in its population.

During a public hearing on Sept. 17, the Caldwell Borough Council approved a zoning change that will affect three Lane Avenue parcels and a property on Roseland Avenue, The Progress reported. (Read the full article)

The ordinance was adopted after multiple builder’s remedy lawsuits and a 2018 settlement agreement, The Progress reported.

Caldwell is required to create 100 affordable housing units by 2025, according to Borough Administrator Tom Banker.

“For each affordable unit, a builder needs four market value units to make a profit,” Banker said. “That’s 500 units, which could result in a 20 percent increase in Caldwell’s population.”

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