Three developers are interested in the Town Center redevelopment plan and have approached the city about doing the project in phases, City Administrator and Redevelopment Director Peter Pelissier said at Wednesday night's Redevelopment Agency meeting.
At least one developer already has submitted plans to the city, Pelissier said, and two additional, more retail-oriented, developers have approached the city with plans to submit proposals. DeBartolo Development is still among the three interested developers.
The residential component of the plan (300 units) would encompass the Center Circle, library parking lot and Redevelopment Agency-owned property. The retail portion would include the SDI Technologies property on Main Street (above, right), which Pelissier said the administration is hoping to develop in the first phase. "The mayor doesn't want it done in pieces," he said, with Center Circle developed, then another piece."
"We don't want another 300 residential units without retail," Pelissier said, and not just a strip mall on Main Street. The plan also includes a five-story parking deck.
SDI Technologies is actively marketing the top two floors of the library (above), Pelissier said, and if tenants are acquired, that could create a problem. He expects the Redevelopment Agency to be presented with plans by September. "If there's no conceptual plan by the end of the summer, it's not going to happnen."
The Town Center project last month was named among New Jersey Future's 2008 Smart Growth award winners, along with Park Square.