The major project is part of broader plans for the town's Delaware River shores.
Plans continue to develop for the future of Phillipsburg's riverfront.
Town officials recently approved nearly 450 new homes -- a mixture of townhouses and apartments -- for the long-discussed Riverview at Delaware Station development, part of a broader ongoing effort to build up the town's Delaware River shores.
Mayor Stephen Ellis has called redeveloping Union Square, the area at the New Jersey end of the Easton-Phillipsburg free bridge, his top priority. The town has surveyed residents about what they would like to see, and there has been talk of making it a destination akin to San Antonio's Riverwalk.
Most recently, on Nov. 28, the town land use board gave the nod to the Riverview development, proposed by Bethlehem-based developer and Phillipsburg native Michael Perrucci's Peron Construction.
The proposal replaces a plan for stacked townhouses that was approved in 2006 with a mix of 136 three-bedroom townhomes and 312 one- and two-bedroom apartments. The development along Howard Street, expected to house 955 people, will be accessed off Stockton and McKeen streets, and will include a recreation center and in-ground pool.
The average asking price for a three-bedroom townhouse is projected to be $220,000, according to prior planning board documents.
A river-spanning rail trail? That's the plan
Town engineer Stan Schrek said the development of an on-site promenade will provide a key link in Phillipsburg's trail system, calling the project "very, very important to the town," according to a report from WFMZ.
In 2014, the project was granted a 30-year tax break by the town, allowing Peron to pay an annual service charge in place of property taxes. Phillipsburg will collect $1.7 million in annual service charges, according to projections at the time.
Residents have previously expressed concerns about impact on schools and traffic.
As for other developments along the river, the mayor on Facebook laid out a rough procedure. A plan for the Union Square area is being developed and will go to the land use board and town council for approval. The town should be in a position to accept work proposals by late spring or summer, he said.
Steve Novak may be reached at snovak@njadvancemedia.com. Follow him on Twitter @type2supernovak and Facebook. Find lehighvalleylive.com on Facebook.