Two months after demolition began in earnest, the last of the buildings on the former Wheatena property came down last week.
The buildings, which had been vacant for decades, will make way for a 489-unit complex made up of four buildings on the nearly 8-acre property at Elizabeth and West Grand avenues.
The first phase of construction on Meridia Brownstones will begin in the spring and anticipated to start leasing in 2018. The project will be completed in four phases, with the final building to open by 2019.
Some other things to know about the rental project:
- About a year ago, the Planning Board approved the application by Linden-based Capodagli Property Company for Meridia Brownstones.
- About 316 will be two-bedrooms and about 171 will be one-bedrooms, with about 541 ground-floor parking spaces, plus 59 spaces in a lot across the street and 24 spaces along Elizabeth Avenue.
- Three, 1,300-square-foot retail spaces will house “supportive retail,” for residents, such as a fitness studio or cafe.
- City Council in August 2014 unanimously approved a 30-year Payment In Lieu Of Taxes (PILOT) for the project, which averages an annual payment of less than $1 million.
- Environmental remediation is estimated to cost some $1 million and Capodagli did not seek state brownfields development funds for fear that it could delay the project.
- Meridia Brownstones Urban Renewal, LLC, acquired the three lots for $4.7 million in May, according to property transaction records.
Thanks to reader Joe Brown for providing photos of the site.