Florham Park had about two dozen active listings at the end of September 2026, and in March it zoned for more than a thousand new homes. For a family shopping for a four-bedroom colonial, those numbers matter less than they look. The ordinances the Borough Council adopted in March 2026 make room for a lot of housing. Very little of it is the detached single-family resale stock where most relocating buyers are bidding.
Every site in the pipeline points the same way, and countywide sales data shows why that matters.
Four Sites, One Direction
Morris County's March 2026 land development ordinance report lists four Florham Park ordinances filed on March 12, 2026. One updates the Borough's affordable housing rules. The other three set unit caps that add up to 1,097 homes. TAPinto reported that the council adopted the 50 Hanover Road plan and the university overlay after public hearings. A fourth site on Columbia Turnpike carries zoning approved years earlier.
| Site | Zoning action | Maximum units | Housing types allowed |
|---|---|---|---|
| 50 Hanover Road, former ASCO Power Technologies HQ | Ordinance 26-03, filed 3/12/26 | 305 | Age-restricted townhomes, patio homes, stacked townhomes; an apartment building with affordable units |
| Fairleigh Dickinson University Florham campus, Park Avenue and Danforth Road | Ordinance 26-04, filed 3/12/26 | 780 | Attached and multifamily, age-restricted, mixed-use over retail, single-family under existing district rules |
| Sun Valley IV, 71 N. Passaic Avenue | Ordinance 26-05, filed 3/12/26 | 12 | One-bedroom townhomes |
| Alfieri site, Columbia Turnpike | Third Round rezoning | 560 | Apartments |
The 50 Hanover Road site covers 55 acres with frontage on Hanover Road and Vreeland Road. The two industrial buildings on it have been closed for ten years. The plan caps it at 243 market-rate age-restricted townhomes plus 62 affordable units. Up to 49 of those affordable units are age-restricted and 13 are family units in an apartment building. NJBIZ reported in October 2025 that Garden Homes had acquired the property. At the time the plan was described as 305 age-restricted multifamily units and 61 affordable units, a slightly different mix from the one the adopted ordinance now sets.
The Borough's housing plan calls the third site the Sun Valley IV Townhome Project. It's small, but it follows the same pattern. A 1.7-acre commercial parcel next to the Sun Valley apartments and the Florham Park Sports Dome now allows a dozen one-bedroom townhomes. Its three affordable units can come from deed-restricting existing apartments in the neighboring Sun Valley buildings.
That direction continues something already built. Garden Communities finished 147 Columbia, 126 one- and two-bedroom rentals on Columbia Turnpike, in 2024, according to REBusinessOnline. The Borough's housing plan lists the 240-unit Delaney on the Green at 110–120 Park Avenue as existing senior housing. Rockefeller Group's Independence Way at The Green adds 62 independent-living apartments.
The Largest Number Carries a Calendar
The FDU overlay accounts for 780 of the newly zoned units, more than two-thirds of the March total. The ordinance sets density at 13 units per acre and caps housing at 780 units on the up to 60 acres set aside for it, which works out to 13 times 60. The underlying university zoning stays in place. The overlay requires that housing be open to the general public, with no preference for faculty, students or staff, and that 20 percent of the units be non-age-restricted affordable homes.
The overlay's text in the Borough code also sets a timeline:
When a developer(s) for the inclusionary residential housing is identified on or before June 30, 2026, the developer(s) shall identify by September 30, 2026, the area of the Tract not exceeding 60 acres of the Tract that shall be used for the inclusionary residential housing.
Both dates have now passed. The ordinance itself names no residential developer, and an overlay is an entitlement, not a construction schedule. The Planning Board's September 14, 2026 agenda listed a McDonald's extension request and a warehouse application at 12 Vreeland Road as its site-plan business. None of the housing sites appeared on it.
So 780 is a maximum the campus may reach. It isn't a delivery date, and anyone pricing a home today shouldn't treat it as supply that's on the way.
The Site Already Zoned, and the Units the Borough Declined
The Alfieri property on Columbia Turnpike shows how far zoning can sit from construction. The Borough rezoned it during the Third Round for 560 apartments, 112 of them affordable. The owner's application to the Planning Board is still active, but according to the Borough's amended Housing Element and Fair Share Plan, adopted February 9, 2026, it has not gone to hearings because of regulatory approval delays.
The owner asked to raise the yield to 994 units. The Borough said no. The plan explains that Hassock Brook cuts through the roughly 124-acre property with significant flood hazard areas, wetlands and buffers. It also says an 80 percent increase would likely mean a completely different housing type. The same plan left out a proposed 315-residence mixed-use project at 30–34 Columbia Turnpike, citing unresolved density concerns.
These decisions show the Borough choosing where higher density goes and how much. The places it chose are a vacant corporate campus, a university tract and a parcel beside existing apartments. Established single-family streets aren't on that list.
Where the County Data Says the Competition Sits
The type of housing matters because the two market segments are behaving differently. NJ REALTORS' Morris County Local Market Updates split single-family homes from townhouses and condos:
- September 2026, single-family: 306 closed sales, a $737,500 median, 104.0 percent of list price received, and inventory up 14.2 percent from a year earlier to 757 homes.
- September 2026, townhouse/condo: 79 closed sales, a $540,000 median, 99.2 percent of list price received, inventory up 18.9 percent to 189 units, and days on market up 19.2 percent to 31.
- Year to date through September 2026: single-family homes sold at a $795,333 median and 105.2 percent of list. Townhouses and condos sold at a $556,250 median and 102.0 percent of list.
The full reports are available on the NJ REALTORS Morris County market page, current as of October 9, 2026.
Across the county, buyers of detached homes are still paying above asking on average. In September, attached homes sold just under list. Florham Park's pipeline adds supply almost entirely in the second category, where buyers already have more room to negotiate. Florham Park itself runs well above the county figures, with a median sold price of about $1.225 million and roughly 23 active listings at the end of September 2026. Homes there sold at about 102 percent of asking. Two dozen listings is the market a single-family buyer is actually choosing from, and none of the zoning above adds to it directly.
Reading the Pipeline From Your Side of the Transaction
What the pipeline does for you depends on the kind of home you're after.
If you want a detached single-family home, the March ordinances don't create competing inventory on any timeline anyone has published. Your negotiating position depends on the resale listings available when you're shopping. Price and condition will matter more than future supply.
If you're open to a townhome, a smaller footprint or an age-restricted community, Florham Park's future choices are concentrated here. That includes the 243 market-rate age-restricted townhomes allowed at 50 Hanover Road and whatever attached or mixed-use housing the FDU campus eventually supports. For local move-down sellers, these are the projects to watch, because they're the in-town alternative to leaving Florham Park.
If you own a single-family home and plan to sell, the zoning doesn't add direct competition for your buyer pool. Pricing discipline still matters. In September 2026, county single-family inventory was up 14.2 percent from a year earlier.
A Few Direct Questions
Is any of this under construction? The March 2026 actions are zoning ordinances. The Borough's Planning Board agenda for September 14, 2026 didn't list a site-plan hearing for any of these housing sites.
Will the FDU campus stop being a university? No. Under the overlay, the existing university district zoning stays in place, and housing is limited to no more than half the tract.
Does any new zoning allow single-family homes? The FDU overlay lists single-family homes under the university district's requirements as one permitted type. It also allows attached, multifamily, age-restricted and mixed-use housing within the same cap.
This post summarizes public zoning documents and market reports for general information. It isn't legal, tax or financial advice, so please confirm how any ordinance or affordable housing rule applies to you with the right professional.
If you want to know whether a single-family purchase in Florham Park makes sense now, or how the 50 Hanover Road and FDU plans could shape a future move-down, Birdsall Visentini Property Partners can walk you through the current listings and the pipeline. Schedule a consultation.
