Developer Wants to Buy Road, Build 52 Apartments Across From Hospital

If a developer and the Morristown Council can come to terms on the transfer of ownership of a cul-de-sac, a 52-unit apartment building may be built along Franklin Street.

According to morristowngreen.com, AHS Investment Corp., affiliated with Atlantic Health System (parent company of Morristown Medical Center), is asking the town council to hand over ownership of Todd Place. In doing so, the investment company would be able to build a 52-unit apartment building without the need for a density variance from the zoning board, the report said.

Going through with the development now would only allow for 33 units, but could bring in approximately $100,000 in tax revenue annually, the report said.

Under town guidelines, about half of the units would be designated for hospital employees.

The planning board decided earlier this year the construction would not proceed unless Todd Place was transferred, which is a decision needed to be made by the governing body, the report said.