How walkable is Rahway? According to Walk Score, it’s more walkable than most cities in New Jersey.
With construction under way on the 115-unit Meridia Lafayette Village, the next significant downtown project could break ground within the year, possibly before the end of 2015.
CORRECTION: The original post has been corrected, with changes noted in italics.
City Council approved changes to permit parking regulations along the north end of Campbell Street
, ahead of the completion of a 116-unit rental complex in response to residents’ concerns when shows are held at the nearby Union County Performing Arts Center (UCPAC).
Metro Rahway will be the next development in Rahway to begin leasing. The 116-unit rental development on Campbell Street is shooting for an Oct. 1 opening — “at the latest” — but possibly by mid-September, according to Clay Bonny of East Hanover-based Heartstone Development.
The five-story project along Campbell Street and West Cherry Street is expected to be completed later this year. Of the 116 units, 52 will be one-bedrooms and 62 will be two-bedrooms, situated above one level of parking. There will be 120 parking spaces, in addition to 18 on-street spaces.
With a completion timeline of later this summer, Metro Rahway continues to rise along Campbell Street with the work on the West Cherry Street side reaching the third story.
The 116-unit apartment complex being built at the former A&M Supply site will include 62 two-bedroom units and 52 one-bedroom units in four floors of living space above one level of parking, with 120 spaces and another 18 on-street spaces.
The A&M Supply building was demolished in June and Metro Rahway got under way later in the year. The project received a 15-year Payment In Lieu Of Taxes (PILOT), approved by the City Council last year, details of which can be found here.
Commissioners last week approved a fourth amendment to the redevelopment agreement for the 116-unit project (Resolution 12-14). Redevelopment Agency attorney Frank Regan said the additional $100,000 will be payable over five years, and is the result of the agency’s assistance with the project, including development of the PILOT and other issues.
Developers of Metro Rahway are scheduled to pay $145,000 once the first Temporary Certificate of Occupancy (TCO) is issued, which could be by August or September.
Another three redevelopment agreements could be presented to the Redevelopment Agency for approval at its March meeting: the Fulton Street project, the Slokker property at Lot B, and the artist housing development in the former Elizabethtown Gas Building.
The Redevelopment Agency anticipates revenues of about $720,000 in redevelopment fees from various redevelopment agreements this year, according to Regan.
The 108-unit Meridia Water’s Edge will owe the agency $500,000, payable upon the first final Certificate of Occupancy (CO) and no later than six months after the first temporary CO is issued.
The 115-unit Lafayette Village, which is expected to file building permits in the coming weeks, would be due to pay $75,000 in fees within six months after the first permit is issued.
The annual State of the City address, typically delivered during the City Council’s annual reorganization at its first meeting of the year in January, will instead this year be delivered by Interim Mayor Samson Steinman on Feb. 5 at Hamilton Stage for Performing Arts.