Some eight months after breaking ground, the five-story Gramercy development along East Cherry Street has topped out.
Two of the largest property sales downtown have occurred in the past year (Center Circle and Watt Hotel) but it would seem there’s an uptick in the number of sales of downtown properties, large and small, in the past two years. Continue reading Uptick in downtown property transactions?
The Center Circle property on Main Street, which gained Planning Board approval in January for a 219-unit development, sold for $5.285 million.
The passive park created as a result of Blue Acres demolitions along a stretch of New Church Street will dedicated to a former councilman and Vietnam veteran.
Closing on the Center Circle property could come as early as this month, eventually making way for a five-story development on the Main Street site that received approval early this year.
A long-vacant Irving Street building that once was planned as a restaurant recently changed hands.
There were no local election races in this year beyond school board but at the top of the ticket, Rahway voters backed the Democratic candidate at higher rates than state- and county-wide voters.
Redevelopment is inching its way across the river from downtown, with a second concept plan proposed for the area: a 40-unit complex on Monroe Street.