Three Up-and-Coming Towns

BY ERIN McFEETERS

While the commercial and residential market segments are vastly different, they also impact one another in more ways than one. Population influxes, increased job openings, or redevelopment projects impact a town’s real estate industry and economy. These three towns have undergone changes in the past decade and will likely see continued changes in the next few years.

This suburban town is known as one of the best places to live if you commute to New York City. It’s just six miles from Times Square, 8.6 miles to the Lower East Side, and 14.5 miles to Yankee Stadium.

While proximity to New York City could be a downside, the New Jersey’s Meadowlands and the Hackensack River surround the town and provide countless recreational opportunities. There are walking paths along the river for residents and visitors to enjoy, and its’ community ties are strong with community gardens and recreational sports teams for all ages.

According to the U.S. Census, the population was estimated at 21,295 in July 2021, an increase of more than 5,000 since 2010. The town is split in two by Route 3 with most of the town’s commercial real estate on one side, and homes, schools, and the marsh trail on the other.

Homes are mostly ranch and split-level, with some sporadic modern-style newer homes. According to NJ Realtors® June data, there were 24 single family closed sales year-to-date, and the median sales price clocked in at $664,500.

Over the past decade, Glassboro has been a town to watch. Once a commuter-focused college, Rowan University has grown in size and reputation.

The downtown has followed suit, and according to glassboro.org, public and private investors put more than $400 million into the downtown area. There is plenty of retail space, office space, and a growing arts and entertainment district.

According to the State of New Jersey, Rowan University’s enrollment in 2010 was 11,300 total students. In 2020, the State of New Jersey reports there were 15,963 undergraduate students enrolled, an increase of nearly 5,000 students in 10 years, making Glassboro a good option for businesses looking to recruit, young home buyers looking for an up-and-coming downtown, or for someone looking for employment opportunities.

Residential streets are tree-lined and homes are a mix of ranch and colonial-style. According to New Jersey Realtors® June data, the median sales price was $262,000, and there were 84 single family closed sales year-to-date.

At the edge of the state, practically in New York City, you’ll find the town of Edgewater. The Hudson River lines the length of the borough, which is just moments away from the George Washington Bridge.

With 14,647 residents, according to the U.S. Census, Edgewater has the lowest population of the three towns, but in the past 10 years, they’ve gained more than 3,000 residents. It is also the smallest at 0.94 square miles.

First established in 1894, Edgewater has strong roots in history. Many of the town’s buildings are on the National Register of Historic Places such as Borough Hall and the Edgewater Public Library. Brownstone and narrow homes line the brick-paved sidewalks throughout, and according to New Jersey Realtors®, Edgewater’s median sales price in June was $845,000, and there were six single family and 144 townhouse-condo closed sales year-to-date.

With redevelopment plans underway, Edgewater will look different in the next few years. In December 2021, the Borough of Edgewater Planning Board approved the plans for a mixeduse development with 1,200 residential units and up to 20,000 square feet of retail floor area and public open space. The location, 615 River Road, was the former Hess Corporation petroleum storage terminal and has since been torn down.