The City Council will vote Monday on a $750,000 bond ordinance that would serve as a bridge loan for the acquisition of the former Elizabethtown Gas Building on Central Avenue (map).
Continue reading City to loan $750k for E’town Gas acquisition
Tag Archives: Rahway Residence for the Arts
Redevelopment agreement for artist housing
A redevelopment agreement approved last month in March requires the Redevelopment Agency to close on the million-dollar acquisition of the Elizabethtown Gas building by September for a proposed affordable housing project for artists. Commissioners approved the agreement at their March 5 meeting (Resolution 16-14).
The two-story building at 219 Central Ave. (map) (Block 167, Lot 1) has been under contract by the Redevelopment Agency since an agreement was reached in December for $1 million, with $400,000 in escrow for remediation. Developers have proposed the 71-unit Rahway Residences for the Arts, an affordable housing complex for those working in the field of arts and entertainment. The 6,500-square-foot facility would be renovated and expanded. Continue reading Redevelopment agreement for artist housing
Artist housing site to be acquired for $1 million
The former Elizabethtown Gas building will be acquired for $1 million but the Rahway Residence for the Arts planned for the site is on hold until the next application round of federal housing tax credits, which might not be until next year.
Continue reading Artist housing site to be acquired for $1 million
Closing near on property for artist housing
A deal is nearly done and closing should be completed soon for the Elizabethtown Gas building property that is planned as 60 units of affordable artist housing in the Arts District.
Continue reading Closing near on property for artist housing
Artist housing PILOT approved
The City Council passed a series of measures on Monday night aimed at bringing affordable housing targeted for people in the arts and entertainment industry to the Arts District, including a financial agreement that will provide a Payment In Lieu Of Taxes (PILOT).
Survey: Very strong demand for artist housing
Developers of an affordable housing development for artists said there is very strong demand in Rahway, enough for 242 units, or 3 1/2 times more than the 69 units they’ve proposed in the Arts District.
Continue reading Survey: Very strong demand for artist housing
Artist housing site to be appraised
The Redevelopment Agency awarded an appraisal contract for the site of a proposed affordable housing complex for artists.
Concept for artist housing grows to 69 units
Developers of an affordable housing concept for artists hope to present their project to the Planning Board later this year as they tweak the original plan, increasing the number of units from 60 to 69 in the latest version.
Continue reading Concept for artist housing grows to 69 units