DENVILLE TWP. – Springpoint and Denville Township on Friday, March 20, signed the first of two purchase agreements for the sale of two parcels of property near The Oaks at Denville to the township.
Two parcels, 17 acres and 41 acres, will be forever preserved as open space and parkland as part of the agreement.
Plans for a previously planned state-of-the-art healthcare center and assisted living center have been scrapped. The sale includes property adjacent to The Oaks community of approximately 17 acres, previously owned by the St. Francis Residential Community. A subsequent transaction will cover an approximately 41-acre parcel known as 18 Pocono Road.
The transaction supports Denville Township’s preservation plans to keep its small-town charm for the future and avoid over-development near the downtown area.
“Denville is a beautiful place, and we appreciate the township’s interest in conserving its idyllic setting for the future,” said Springpoint President and CEO Anthony A. Argondizza. “The Oaks at Denville will continue the legacy of the Sisters of the Sorrowful Mother and St. Francis Health Resort by providing high quality programs and services to seniors.
“The township’s thoughtful decision to preserve these properties will contribute to the community’s health, providing open space, a park, and recreational fields for generations to come. On behalf of Springpoint I am pleased that we reached a successful agreement.”
While Springpoint has previously explored other plans for these properties, changes in market conditions coupled with the township’s interest in preserving the land led the organization to determine that this sale was the right direction for both the greater Denville community and The Oaks at Denville.