Tag Archives: DeBartolo

New library tenants may need more parking

The new owners of the office space above the library told city officials they may need more parking, judging by the interest from potential tenants.

 

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Town Center scaling back, has new developer

The Town Center project, originally proposed 18 months ago as a massive residential-retail plan for property around City Hall, has a new developer and scaled-back plans.

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Town Center could come in phases

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.

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Town Center plans in flux?

The Town Center project planned for the City Hall area might change developers and ultimately could be considered for an office complex.

Diversified Communities and DeBartolo Development are not together anymore, City Administrator/Redevelopment Director Peter Pelissier said during last month’s Redevelopment Agency meeting, adding that the DeBartolo firm believes the original concept plan should be reviewed given the retail market. Two phone calls to Debartolo were not returned.

Rahway Redevelopment Commissioner Timothy Nash suggested putting out a Request For Prosposals (RFP) to see who else might be interested.

“If worse comes to worse,” an office complex could be considered, Pelissier said, but has declined to elaborate.

Richard Weissman of Diversified Communities — developers of nearby Riverwalk — declined to comment because he was “in the middle of resolution of issues.” Asked for a timeline of when resolution might occur, Weissman said in an email: “It has many moving parts, including in big part the market conditions.”

Diversified Communities made a presentation to City Council in February 2007, proposing a mixed-use project of 175,000 square feet of retail, a 125-room hotel, 375 units of housing (1/3 for sale, 2/3 rentals), along with parking decks totaling 1,300 spaces. Diversified, developers of Riverwalk, was named redeveloper last March and purchased the property from the Redevelopment Agency last summer for $725,000. In October, it signed a deal to with DeBartolo.