A concept plan presented to the Redevelopment Agency last week proposed a two-building, 174-unit rental complex that would reconfigure on-street parking across the river from downtown.
A substation on Monroe Street and Clarkson Place, just across the river from downtown, has the interest of a potential developer.
In his report to the Redevelopment Agency at its March 5 meeting, Redevelopment Director Peter Pelissier said he and Interim Mayor Samson Steinman met with Mark Fauci of Iselin-based American Properties about potential redevelopment sites in the city and one area that piqued interest was substation on Monroe Street and Clarkson Place. Years ago, the substation had been discussed in passing as another area for potential redevelopment, with the idea of entertaining Requests For Proposals (RFPs) for the area.
As negotiations over acquisition of the former Wheatena property slow down, the Redevelopment Agency is waiting but keeping its options — including condemnation — open.
The vision for the old Wheatena property on Elizabeth Avenue has gone through a number of iterations for more than a decade, from some 300 townhouses to 130 condominiums.
Continue reading Two developers in talks about Wheatena property
City officials were scheduled to meet last week with a developer interested in the former Wheatena site.
City Administrator and Redevelopment Director Peter Pelissier told the Redevelopment Agency last week that he and Redevelopment Agency attorney Frank Regan were scheduled to meet with American Properties last Thursday. The company, which has several developments around the state, previously had expressed interest in the property, according to Pelissier.
Matzel & Mumford recently terminated a redevelopment agreement for the 8-acre parcel at the corner of Elizabeth and West Grand avenues, where it once had planned as many as 300 units before scaling back to 130 units and ultimately dropping the project.