Located in New Jersey's Mercer County, the town of Princeton is home to a total population of around 30,000 residents. Home to the famous Ivy League school Princeton University, the town of Princeton enjoys close proximity to both Philadelphia and New York. The ideal location is one of the reasons why Princeton, NJ real estate is thriving. Notably, in 2005, Princeton was named Number 15 of the top 100 towns in the United States to live and work, according to Money Magazine. Residents and owners of Princeton, NJ real estate are referred to as "Princetonians."
Princeton is approximately 13 miles away from New Jersey's capital city of Trenton. The state Governor's official residence is in the town of Princeton, and has been since the year 1945, when Morven became the first Governor's mansion. That mansion has since been replaced with the larger Drumthwacket colonial mansion. Morven is now the home of the New Jersey Historical Society.
The town of Princeton is actually divided up into two municipalities - a township and a borough. The central borough of the town is wholly surrounded by the township. In 1894, the borough seceded from the township in a dispute over school taxes. In later years, the two municipalities worked together to form the Princeton Regional Schools, as well as other public services. In total, there have been three referendums proposed to reunite the two "Princetons," but all were narrowly defeated.
The Borough of Princeton consists of most of the University campus, as well as the area's main commercial center, known as Nassau Street.
The Local Economy
When most people think of Princeton, New Jersey, what comes to mind is the quintessential "college town." Although Princeton University makes up a large part of the town, there are several other important institutions and companies that enhance the town's character and economic basis. These include the Institute for Advanced Study, Opinion Research Corporation, Educational Testing Service, FMC Corporation, The Robert Wood Johnson Foundation, Dow Jones & Company, Princeton Theological Seminary, Church and Dwight, Westminster Choir College, and more.
Princeton, NJ real estate and the town's local economy are driven largely by what is described as an equidistant location from both Philadelphia and New York. Rail service and major highways connect Princeton to these cities, making it an ideal bedroom community for families and young professionals who commute to either city. Princeton, NJ homes for sale are commonly sought after by those looking for a quieter, more tranquil lifestyle that city living cannot provide.
Some Tidbits of Princeton History
The state of New Jersey was crossed many times by British and American armies during America's War for Independence. George Washington led the American forces through the area on January 3, 1777, and scored an important victory over British forces led by Charles Cornwallis, in the Battle of Princeton. Today, the site is preserved as the Princeton Battlefield State Park.
The Continental Congress met at Princeton University in 1783, which led Princeton to be the capital of the United States for a total of four months. It was in Princeton that the Continental Congress first learned of the signing of the Treaty of Paris, which ultimately ended the war. During this time, the town of Princeton was largely agricultural. Only Nassau Hall and a few houses accounted for the entire University, as well as Princeton, NJ homes.
One of the first telegraphs ever operated was in Princeton during the year 1840. The operator was Joseph Henry, a professor at the College of New Jersey. Henry used the invention to contact his servants at home while he worked in the college laboratory.
Since the early part of the nineteenth century, the first rail line between Philadelphia and New York City offered a stop in Princeton. When the rail service route was changed in the mid-nineteenth century, and moved the path several miles south of Princeton, the Pennsylvania Railroad built a rail spur that connected a station at Princeton Junction with a station directly in the borough of Princeton. This train is still operated today by the New Jersey transit, and is called "Dinky."
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