PSE&G site plans

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Two big development projects in Maplewood have been scuttled this year.  First,  the Post Office development plan didn’t work out with Supermarket – Kings, and now the developer for the PSE&G site near the Irvington border has pulled out.  These are two very important sites that will have a big impact on the future of Maplewood. and tonite’s town council meeting will be a forum for discussion on the matter

Environmental contamination on the site on Boyden Avenue made remediation costs higher than developer, Parke Place, LLC had anticipated.

Avalon Bay Communities is the newest player who will attempt to develop the site by buying it from Parke Place.  The town is reportedly offering the same financial incentives to Avalon which included a  a 30-year PILOT (payment in lieu of taxes) at 10% of construction costs, which are estimated to be roughly $40 million.

For more details, check out the article on Village Green below.

http://villagegreennj.com/towns/government/pseg-developer-withdraws-amid-environmental-concerns/

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