Redevelopment officials and developers have agreed in principle on the use of Redevelopment Area Bonds (RABs) but are still working out details on the financing tool that would be part of 208-unit downtown project that includes extending Monroe Street.
The Redevelopment Agency is looking into establishing a new stand-alone website or possibly partnering with the Parking Authority on a joint website.
Demolition of a string of East Cherry Street buildings could begin by the end of the month, making way for construction later this year of a 45-unit project called The Gramercy.
Work could begin as early as next week on the site of the former Elizabethtown Gas building, where an affordable housing development geared toward artists is planned.
Swaths of West Grand and Elizabeth avenues, industrial properties on Regina and New Brunswick avenues, and a shopping center that straddles the border with Woodbridge, are among six areas that could be studied as potential new areas of redevelopment.
Original concept plans to construct an addition onto an existing East Cherry Street property aren’t likely to happen and instead a new round of changes are expected to a project that initially proposed 43 units.
The developer of a 45-unit project aims to begin demolition of existing buildings along East Cherry Street by next month to allow construction to begin before winter.