Agency makes offer for adjacent site

The Redevelopment Agency is looking to acquire another property adjacent to the former Hamilton Laundry site (in the background of photo at left; a closer look here).

Redevelopment Counsel Frank Regan said at last week’s meeting that the agency made a “good-faith offer” to the owner of the multi-family property immediately to the west of the site. Though the property owner rejected the $310,000, which was based on an appraisal, there is a willingness to sell and a counter offer was made, Regan said. Funds for the acquisition were allocated as part of financing approved in a bond ordinance last month, he added.

Redevelopment Director and City Administrator Peter Pelissier said the mayor and Arts District Advisory Board are still deliberating over the design of the amphitheater itself. The agency acquired the Hamilton Laundry site in 2004 for about $2 million, according to propertyshark.com, and has plans to create a park and amphitheater after an effort to build a comedy club was scratched as a result of flooding on the site. A black box theater and performing arts space instead are planned up the street at the former Bell building.

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4 thoughts on “Agency makes offer for adjacent site”

  1. Wow I wish I could move my house to that street I’d get at least half a million!! The city should get a bulk discout rate for that whole row of houses.

  2. $310,000!I’ve walked past that place many times, and that green house next to the Hamilton site is a third-world rathole. The city should fine the crap out of the owner for all of the codes that place surely must be violating.I’d love to see Rahway make that slumlord beg the city to take that property off his hands.

  3. I’m glad to see the town is still investing in these types of things. It just adds to the potential of this town and I’m happy to see it.

  4. i can’t believe the owner of that old green multi-family house didn’t accept the 310K! He must be smoking crack if he thinks he can get more than that for such an un-kept place in this market.

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