Tag Archives: Monroe Street

El Quincho opens Monday in former Tauros Grill

Argentinian-style barbeque will be coming to Rahway with the opening of El Quincho Bar and Grill on Monday. Directly translated from Spanish, El Quincho means “The barbeque.”

El Quincho exteriorThe eatery, which took home Best Barbeque honors at The Taste of Rahway in April, will occupy a space at the corner of Monroe and Bond streets (map) that has been vacant since Tauros Tapas Grill left several years ago. Before the Spanish-Portuguese tapas restaurant, the place was known as Rio Cafe. Continue reading El Quincho opens Monday in former Tauros Grill

30-Year PILOT could mean 50-percent tax break

The Payment In Lieu Of Taxes (PILOT) for a proposed 196-unit project downtown could mean a tax break of as much as 50 percent in the first year alone and some $17 million versus $34 million over the 30-year life of the program, if certain assumptions are made.

Continue reading 30-Year PILOT could mean 50-percent tax break

2-3 months on Lafayette Village construction

Groundbreaking on Meridia Lafayette Village could be two to three months away as construction permits are in the process of being secured. By that timeline, construction could begin sometime after Memorial Day.

The view from Dock and Monroe.
The view from Dock and Monroe.

Redevelopment Director Peter Pelissier briefed commissioners at the April 2 Redevelopment Agency meeting about a discussion with George Capodagli, principal of West New York-based Capodagli Property Company.

Continue reading 2-3 months on Lafayette Village construction

Substation eyed for potential redevelopment

A substation on Monroe Street and Clarkson Place, just across the river from downtown, has the interest of a potential developer.

Substation at Monroe and ClarksonIn 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.

Continue reading Substation eyed for potential redevelopment

Main Street project would get 30-year PILOT

The City Council next month will consider the fourth Payment In Lieu Of Taxes (PILOT) in the last two years, this time for the largest project and the longest program yet.

Continue reading Main Street project would get 30-year PILOT

Commissioners debate Lafayette Village facade

Presented with an update on Meridia Lafayette Village, Redevelopment Agency commissioners discussed pros and cons of the new design during their meeting this month, ultimately asking that the developer tone down the stark white on parts of the facade.

Continue reading Commissioners debate Lafayette Village facade

Easement granted for Lafayette Village

The proposed 115-unit Lafayette Village project at the corner of Main and Monroe streets (map) is expected to begin construction in 2014 after finally getting necessary state permits and other approvals in recent months.

Continue reading Easement granted for Lafayette Village

Tax judgement results in 2-percent break

A judgement by the state Tax Court resulted in a 2-percent reduction for one of the city’s largest taxpayers in the 2010 tax year, but no change in the property’s overall assessment.

The City Council approved resolution AR-230 at its Oct. 15 meeting, authorizing a $7,001 credit for the overpayment of taxes to Renaissance at Rahway, LLC, which does business as Meridia Grand. The building was constructed in 2010 by Capodagli Property Company, which sold it in 2011 for $19 million.

The 88-unit Meridia Grand on Monroe Street and East Grand Avenue is assessed at $5.362 million, for a property tax bill of about $324,420 last year. A $7,001 reduction is about 2.16 percent. The size and nature of a tax appeal can determine what venue it’s decided in and larger tax appeals can take longer to resolve.

The number of tax appeals filed doubled in 2010, and it was the same year that Merck initiated a massive tax appeal on its property, which resulted in a settlement and multi-year reduction. Renaissance at Rahway/Meridia Grand was among the top 10 property taxpayers in the city that year.

The City Council also approved refunds for 2013 tax appeals, which will be detailed in an upcoming post.