Archive for the 'developer' Category

Fourth and Valley Development

 

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In a March follow up meeting on the Fourth & Valley redevelopment project, the town planner summarized expectations and a general framework to town officials and concerned residents gathered.

The first meeting in February with developers looking to create a major residential and retail building at Fourth and Valley showed that there were differing expectations on all sides.  The Development Committee had some major revisions to suggest to the developer, Meridia who was originally looking to build something ‘massive.’  Several members of the Academy Heights neighborhood association gathered prior to summarize their concerns and Academy Heights’ resident David Kraiker spoke on behalf of those members.  Village President, Sheena Collum also made it clear that any development  was going to be in line with what the community envisioned.  It appeared that the developer appreciated the input.

Stay tuned for the next meeting when the developer is expected to submit a revised plan that would hopefully be even smaller scale than the above guideline.

Link to more info on meeting

 

 

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Development at 320 Valley St., South Orange

At a Jan 4 meeting, approval from the South Orange Planning Board was given for the 320 Valley project to proceed.  It will be a 22-unit apartment building, with 2,400 sq ft of ground floor retail space. As a result of neighborhood residents voicing their concerns, the developers did agree to contribute small sums of money for:

  1. situations caused by increased traffic at the intersection of Valley St., and the future building’s driveway.
  2. tree plantings, since they will be eliminating all the trees in the area in order to build

South Orange Maplewood Homes

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There are more developments planned on Valley all the way down to Roland. The newest proposed project at 320 Valley calls for 22 units with one retail spot available.   Proposal sketch above and current photo far above. All this on a plot that currently only has ONE two-family home – the blue home pictured above.

There are many trees and shrubs (pictured) which give the area respite from the bustle of Valley St.  It would appear that the developers will build all the way down to Valley St. for the retail spot which would eliminate the greenery.  Ora Manor is immediately to the south (not pictured) and extends to the street., so current zoning shows that the proposal is ‘conforming’, but just because it’s conforming doesn’t mean 22 units are good for the residents of the area.  There are still vacancies in retail on South Orange Ave. and Valley and…

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Church st development

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A long-vacant parcel of buildings and land on a prime corner of downtown South Orange will finally be developed, as the new owner plans to demolish the derelict structures fairly soon.  Developer, Ed Ayuso has purchased the vacant lots at the corner of Church St. and South Orange Av. He is looking to ultimately construct a combination of residential units and retail.

However, he will construct an interim 50-space parking space prior to the residential/retail development.  The parking lot has already been approved by the town.

There will be cooperation with Jonathan Rose companies, the developer of the 3rd and Valley project.  NJ Transit will also be involved.

I wonder when the Bakery and Fitness centers on the ground floor of the Gateway will finally open.  Hopefully all these new renters will deliver even more restaurants and shops to downtown South Orange

 

see developer’s link for more details

http://eeaindustries.com/developer-buys-long-vacant-church-st-lot-in-downtown-s-orange/

Edison Village, West Orange

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The redevelopment of the former Thomas Edison battery building in West Orange, N.J. into a project that will include retail space, apartments, and townhouses remains on hold.  The developer, Prism Capital Partners hopes to build 610 housing units and a 640-space parking garage.

The matter is currently pending before the State Supreme Court.  A few town residents challenged a $6.3 million dollar bond issue that the town plans to use to fund infrastructure upgrades. “We are challenging because we feel it’s not fair to taxpayers of West Orange to subsidize a private developer,” said Windale Simpson, one of the residents who filed the suit.  See links below for more details

http://www.wsj.com/articles/SB10001424052702303980004579576120638433480

http://therealdeal.com/blog/2014/05/23/lawsuit-halts-west-orange-edison-village-revamp/

Construction at Third & Valley in South Orange

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It’s hard to miss the construction progressing rapidly at Third and Valley in South Orange. The pictures here are artist’ renderings of the completed project. It will consist of 215 LEED rental units with a central courtyard and a pedestrian area with retail fronts on the Valley St side.   It’s one block away from the South Orange NJ Transit station situated on 2.7 acres.  This development grew out of the town’s Vision Plan.

Combined with the new units at the Gateway and The Avenue, rental inventory in South Orange will have increased significantly after completion. In addition to meeting the rental demand, the town has indicated that it is hoping this will provide more market for retailers. In my opinion, another effect will hopefully be that more of these tenants after a year or two of renting will be looking to eventually buy.  New construction of single family homes in South Orange and Maplewood is very rare as most of the acreage is developed. Without new construction of sales units, prices will continue to increase for current single family homes.

for more info see link below

http://www.rosecompanies.com/all-projects/third-and-valley

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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