A Superior Court ruling is paving the way for residential development in Bloomingdale, according to Borough Mayor Jonathan Dunleavy.

The ruling allows Finbar Equity Investment, an affiliate of the Tilcon Quarry, to split 32 acres of land from the Meer Tract and give it to the borough for residential development. 

The borough will then sell the land for somewhere between $9 million and $12 million, a figure that could reach $16 million once construction fees are factored in, News 12 is told.

Dunleavy says a 360-unit multi-family development is planned, with 72 units set aside for affordable housing.

The mayor went on to say that construction is expected to begin in two to three years and that the project will bring in about $1 million annually in tax revenue.