Hamilton Housing Continues Growth

Mercer Business, Aug 01, 2001 by Lamberg, Erica

Mercer County, home to beautiful residential communities, thriving corporations and a host of extras, make the quality of life among the best in New Jersey.

Housing options in the area range from traditional single-family homes, condominiums, townhouses and apartments.

Transportation by train and car makes it easy and convenient to get into and around the county, and to reach the nearby metropolitan centers of New York and Philadelphia.

One municipality that seems to enjoying steady growth in the residential real estate market is Hamilton Township. Located in the central part of New Jersey, Hamilton is approximately 40 square miles in size. It is easily accessible form major transportation routes of I-195, I-95, I-295, Rt. 130, Rt. 33, US-1 and the New Jersey Turnpike.

According to Hamilton's office website, the population of Hamilton Township is nearly 90,000 and it is projected to be the largest in Mercer County by the year 2010.

Hamilton is similar to other areas of Mercer County in its population characteristics with 15 percent of its residents being 65 and older. Seventy-eight percent of Hamilton's population is 18 years of age or older. It is an ethnically and economically diverse community. Hamilton has outstanding police and fire departments, which work cooperatively with the school system. It has a system of municipal and county parks which contribute both aesthetically and recreationally to the lives of its residents.

Why does Hamilton seem to be such a desirable place to live?

"Hamilton boasts favorable schools, it's located near public transportation, and has

many and cultural and retail offerings," said Rosalie Daniels, broker/owner with Re/MAX Tricounty in Hamilton and president-elect of the Mercer County Association of Realtors.

Daniels explains that many prospective homebuyers' first choice is to reside in Princeton or West Windsor, but when they see prices of the homes in those two areas they make the decision to branch out to other choices in Mercer County.

"Many people cannot afford to buy in these increasingly pricey towns. When I meet these buyers I tell them that Hamilton is a great alternative because it is affordable and a growing community," Daniels continued.

With 25 percent of the market share of residential real estates in Hamilton, Daniel's office says all types of homes are selling - condominiums, townhouses and single-family homes.

"We are actually selling everything right now. There's definitely been a higher demand of buyers in the area for quite some time," she adds.

Single family homes in the range of $150,000 - $250,000 seem to be the hot commodity in Hamilton right now. "Because Hamilton is so affordable it's been much harder hit than other surrounding areas," said John Burke, manager with Gloria Nilson Realtors - GMAC in Hamilton Square. What makes Hamilton so desirable, said Burke, is that when families are ready to make the next step from a townhouse or condominium they can get a lot for their money in Hamilton.

"It's a domino effect; when people move up to a single family home it allows first time buyers to purchase that available townhouse or condo. Typically, people purchase 130 percent of what they currently own for their next home and this demand in Hamilton keeps the market strong and the homes values steady," Burke explains.

Other benefits of living in Hamilton, said Burke, are the train station, central location and favorable schools. Hamilton Township School District has a population of approximately 13,000 students and consists of 23 schools: 17 elementary, 3 middle schools and 3 high schools.

Although Daniels reports there is limited new construction in the area due to land availability, she says there has been an influx of retirement communities in Hamilton.

"Retirement communities are good for the township because they balance ratables and they don't burden the school system," Daniels said.

One of those retirement communities for people aged 55 and older is Locust Hill on Yardville-Hamilton Square Road.

Built by Sharbell Development Corp., it features 248 homes, starting at $140,000 with the use of a clubhouse and fitness center, an outdoor swimming pool, tennis, horseshore and shuffleboard courts, a garden area with a greenhouse and private picnic grounds.

Sharbell also developed Evergreen at Hamilton which is very similar to the homes at Locust Hill, according to Grace Colby, community manager.

Although Locust Hill may be one of New Jersey's newest adult communities, it actually represents a continuation of an important chapter in local history. Nestled upon the grounds of the venerable Burholme estate, the community takes its name from the locust grove that lined the apprach to the homstead during the 18th Century. The home itself is said to have been a stop on the Underground Railroad during the Civil War and plans are underway to refurbish it as a gracious meeting facility for those who will live there, Colby pointed out.