At a special meeting the council voted 4 to 3 to table the resolution approving the development agreement and an amended mediation agreement with Fair Share Housing Center, and the ordinance creating the overlay zone. Nothing about this project was approved.
Project phase
- Application filed
- Hearing held
- Approved
- State permits pending
- Under construction
- Fully built
- Town
- Toms River
- County
- Ocean County
- Type
- Residential
- Size
- 125 homes
- Latest step
- Jul 29, 2026
The project
A proposed 100% affordable rental development on two township-owned lots at 1976 and 1980 Lakewood Road, to be built by Velocity Affordables, LLC under a development agreement with the township.
What usually comes next
Projects like this often need county or state permits before any work starts on the land. Some skip that step and start building.
Toms River Township Council adopted on final reading, 4 to 2 with 1 abstaining, the ordinance designating Block 171, Lots 23 and 42 as an MF-16 affordable overlay with a 100% set-aside.
Toms River Township Council agenda lists the Block 171, Lots 23 and 42 overlay ordinance for final reading.
Toms River Township Council passed on first reading, 7 to 0, an ordinance designating Block 171, Lots 23 and 42 as an MF-16 affordable overlay with a 100% set-aside.
Toms River Township Council agenda lists the MF-16 affordable overlay ordinance for final reading.
Toms River Township Council minutes list, as items from the floor, an ordinance making Block 171, Lots 23 and 42 part of an MF-16 affordable overlay with a 100% set-aside, and a resolution supporting a 100% affordable project there by Beacon Estates, LLC; no vote is recorded in the minutes.
Each step is our own summary of a public board or agency document, linked where the document is online. A project's status can change at the next meeting. General information, not legal advice. Justin Kelly, NJ Real Estate Broker-Salesperson, License #1540232. Brokered with OMNI Real Estate Professionals. Equal Housing Opportunity.