Payments In Lieu Of Taxes (PILOTs) more than doubled in last year’s municipal budget, eclipsing $2 million after three new projects were added to the tax rolls. The spending plan for 2017 anticipates $1.3 million after the expiration of one five-year PILOT.
A new hotel for Carriage City Plaza, renaming a downtown space as Tesla Square, and a pop-up youth community center were among the highlights of the 2017 State of the City address on Thursday night.
Rahway’s overall assessed value is about 7 percent off since the recession with assessed values of apartments and industrial properties heading in opposite directions while commercial assessments are almost back to pre-recession levels.
Carriage City Plaza, the downtown high-rise that is among the city’s most prominent symbols of redevelopment, could change hands later this year.
A loss of almost $900,000 in revenue from the state’s red light camera pilot program is among the biggest hits to the 2015 municipal budget, which projects a 3.7-percent tax hike.
In case you missed it, the infamous tower at the former Kings Inn motel is no more, having been demolished last month. The hotel itself is no longer a Kings Inn but a newly renovated Super 8, one of more than a dozen brands within Wyndham.
Continue reading R.I.P. Kings Inn tower, hello Super 8
Almost two years after breaking ground and some five years after originally getting approval, a new extended stay hotel just off Routes 1/9 is expected to open in the next several weeks.
Home2 Suites by Hilton is an extended stay brand of Hilton and the corporate website indicates a Nov. 15 availability.
The 4.4-acre property has changed hands over the years and the application has come before the Planning Board a number of times for amendments and such.
Plans were approved for a Sleep Inn but the property then changed hands in June 2008 and a plan came about to bring in Candlewood Suites.
In December 2009, the Planning Board approved an amendment to a previous plan, at which time members were informed that the hotel would be a Homes2 Suites and not a Candlewood Suites.
Meanwhile, the Kings Inn motel has been undergoing extensive renovations and could be forthcoming as well.
The not-so-iconic tower at the Kings Inn motel on Routes 1&9 will have to live on via the Internet — its claim to fame found in this video for a once-popular 1990s hip hop song — because its days are numbered.