Residents and town officials are all in agreement about the need for repairs and infrastructure renovations on Bank Street. The narrow, single-block thoroughfare, tucked away off Nassau Street between Bayard Lane and Chambers Street, needs electrical, telephone, and cable lines placed underground, and the street, curbs, sidewalks, and sewage system all require extensive upgrades.

“Bank Street is a wonderful Victorian street,” said Princeton Mayor Liz Lempert. “You can tell it was designed in a different era, with homes built close together and close to the edge of the road. What makes the street special is also what makes it an engineering challenge.”

Ms. Lempert went on to discuss the costs С currently estimated at $70,000 per home owner С and the complications involved in making necessary improvements.

“The neighbors are hoping to bury the utility lines underground, but the estimated costs are prohibitively expensive,” she added. “There are also complications caused by the narrowness of the road. Undergrounding the utilities could preclude space for street trees.”

After many years of delay, residents and town officials are seeking ways of trimming costs and moving ahead. “The municipality is continuing to work with the neighbors to see if there are other options that haven’t been considered,” Ms. Lempert said. “Once we have a consensus from the neighbors we will move forward on the project.”

At private meetings of Bank Street neighbors early last week and also at a public session at the Municipal Building last Wednesday night, residents agreed to explore how to address the challenges.

“The neighborhood said they would give us a one-year reprieve,” said municipal engineer Deanna Stockton. “There is hope for a price break from the utilities. We’re following up on our plan for roadway and sewage systems renovations. We’d like to have a comprehensive plan to see how all the pieces fit together before moving forward.”

Charles Crider, Bank Street neighborhood representative, stated that the residents agreed on the need to reduce the price. “We all wanted to bring the price down, and we decided we’d be willing to wait another year if that’s what it took.”

Noting the unique nature of the street, Mr. Crider was optimistic about cutting costs in the short term and about possible long-term results of the current dilemma. “This is a chance to make an investment that will pay back,” he said. “It’s a matter of horizon. It’s a special street, the pride and joy of the downtown. It’s a mix of all different kinds of people.”

Mr. Crider was hopeful that the Town, engineers, and others, with the help of Assemblymen Andrew Zwicker and Jack Ciatarelli, would be able to negotiate the utilities down in price He also suggested that grants could be obtained and that the town could help spread the costs over a 10 or 20-year period. He commented on the increased communication and cooperation among Bank Street residents.

Impatience and frustration mark the reactions of some Bank Street property owners and residents, however, who feel they have already waited too long. Tony Nelessen, Bank Street property owner and professor of urban planning and design at Rutgers’ Bloustein School, blamed the Municipality for the delays, stating, ”It’s been a delay for 35 years. They have not done their homework in figuring the costs.”

Claiming that Bank Street had been neglected over the past decades, Mr. Nelessen explained that the problem is a complicated one. “There are so many unresolved issues here, and the town is dealing with it not in a holistic but in a piecemeal way.”

Mr. Nelessen, however, did express guarded optimism in seeing the residents working together with Mr. Crider as their spokesman.