The Princeton Township Committee and the University reached an agreement Sept. 1 that allows the graduate school to lease up to six affordable housing units at Griggs Farm.
The single-occupant units could be leased for $12,000 per year, each, and subleased to graduate students for $500 to $600 per month.
Any student living in the development has to meet Township and state income-eligibility requirements for moderateor low-income housing.
But because of lack of interest, only one of the units now is occupied by a graduate student.
Director of Housing Stephen Miller said the new apartments were offered to several graduate students in need of affordable housing. "Many felt it was just a little too far from campus," he said.
The Griggs Farm development, located off Cherry Valley road, consists of more than 100 units, some of which have been empty for more than two years.
The Township has had trouble marketing the one-bedroom units because of their small size, according to Township Affordable Housing Coordinator Christy Peacock. She said officials had hoped Princeton students would help build the community.
Any money raised from leasing the apartments will be put toward the Township's affordable housing program, she said.
The University began seeking additional living space in part because the graduate student body grew by 72 this year. In addition, it appeared last year that fewer graduate students than expected would be cancelling their housing contracts with the University, Miller said.
Several students, however, pulled out of University housing at the last minute, creating adequate space in existing facilities and making the new housing in the Township largely unnecessary.
Since the agreement between the University and the Township only afforded the option of leasing the units, the University will not be required to pay for the unfilled apartments.
"We can use up to a total of six or seven, I believe," Miller said. "But I doubt we'll use any more [than we are now]."
A seventh property was discussed, but was not available because the Township had not purchased it back from the departing owner.
In the event that it becomes necessary to find more graduate student housing, the University may still lease any of the apartments until Aug. 31.
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