A major housing development that would bring nearly 500 homes to Mount Olive is moving forward, with updated plans approved for its remaining sections and construction already underway on the first phase.
The Mount Olive Planning Board approved the latest plans for the development along Continental Drive on September 17. The project calls for 478 homes, including 100 affordable units, near the Netcong-Stanhope border.
The development has been in the works for several years and has changed over time. The latest plans reduce the number of homes from 494 to 478, cutting 16 residences while keeping the same number of affordable units.
Of the 478 planned homes, 378 would be market-rate residences, while 100 would be reserved as affordable housing. That means roughly one in five homes in the development would be designated as affordable.
The property is near Mount Olive’s International Trade Center, an area that has attracted residential development proposals since 2020.
Jersey Digs previously reported in July 2020 on plans for hundreds of homes and apartments near the International Trade Center. Those earlier proposals included apartments, townhomes, and other housing across several sections of the property, including developments identified as The Canal and The Ridge.
The development received an earlier Planning Board approval in 2023, and construction has since begun on Phase 1. The latest approval covers Phases 2 through 4, allowing the remaining sections to move forward once the developer meets the necessary requirements.
The applicant, Mount Olive Venture SPE, LLC, has updated the layout and construction plans as the project has progressed. The development will be built in phases, with different sections moving forward separately rather than all at once.
The Planning Board also discussed environmental protections. The property includes areas near wetlands and seasonal pools used by wildlife, and the plans address how rainwater will drain through the site without disrupting nearby natural areas.
The project also includes roads, landscaping, and other improvements around the new homes. Board members discussed protecting slopes, managing stormwater runoff, and making sure signs throughout the development would help drivers navigate the property.
With the latest plans approved and construction already underway on the first phase, the development is moving closer to bringing hundreds of new homes to this section of Morris County. A timeline for completing the remaining sections has not been announced.
