How walkable is Rahway? According to Walk Score, it’s more walkable than most cities in New Jersey.
Meridia Water’s Edge, a 108-unit rental building that began leasing two years ago, has sold for$29.328 million, or about $271,556 per unit.
Continue reading Meridia Water’s Edge sells for $29.3 million
Meridia Water’s Edge, the two-year-old rental complex at City Hall Plaza, looks like it will be sold in the near future.
The tax assessment for Meridia Water’s Edge is more than $8 million, 20 percent higher than what I estimated a few years ago before construction began. That means the disparity in would-be property taxes versus the Payment In Lieu Of Taxes (PILOT) is even wider than I originally projected.
The average property within an expanded, citywide Special Improvement District (SID) would pay about $1,437 in taxes to the SID, but the average among industrial properties and apartments would be nearly twice as high as commercial properties.
Construction on Meridia Lafayette Village is expected to begin this week. The 115-unit project is planned at the corner of Main and Monroe streets, where The Savoy, a 36-unit condominium project had been proposed before the real estate market imploded.
Owners of The Center Circle have requested that the Redevelopment Agency repair the rear parking lot and access way after they claim it was damaged as a result of construction and materials related to the adjacent Meridia Water’s Edge project.
Continue reading Center Circle seeks repairs after project
Temporary Certificates of Occupancy (TCO) have been issued for all four residential floors of the 108-unit Meridia Water’s Edge complex and about 70 units have been leased to date.