The investment and management firm that two years ago acquired Park Square, a two-building mid-rise in the center of downtown, has secured a $34-million loan on the property.
Category Archives: Apartments
Pre-development agreement approved
A proposed 300-unit development across the river from downtown could be built in phases depending on property acquisition, which would ideally include relocating a PSE&G substation.
City Council moves on new redevelopment agreement
City Council introduced an ordinance to accept changes to the financial agreement for Meridia Brownstones, a 487-unit at the former Wheatena site that recently cut the ribbon on its first phase.
Continue reading City Council moves on new redevelopment agreement
Abstract of ratables, 2020
The total taxable value of Rahway properties grew last year by $4.5 million, or 0.32 percent, with the industrial class inching up for the first time in years while residential assessments increased their share of assessments to a recent high of almost 68 percent of the city’s value.
8: New timelines for Meridia Brownstones
- Changes to the redevelopment agreement for Meridia Brownstones set forth milestones and timelines — as well as potential penalties — for the 487-unit rental development that’s been behind schedule. For more background and a timeline on the project, give a listen to this episode of the podcast.
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City acquired three lots for $500,000. Three lots at the corner of Irving Street and Seminary Avenue are included in a concept plan for the Hamilton Street redevelopment area, which is included within the Arts District Redevelopment Plan that focuses on the northern end of downtown.
FLASHBACK: 2013 – Redevelopment Agency, A&M settle for $215,000. In this episode, we take a look back at a settlement over relocation assistance related to a downtown redevelopment project. Give a listen to find out details of the 2013 settlement as well as some historical perspective on the 116-unit Metro Rahway development on Campbell Street.
Agreement sets new timeline for Meridia Brownstones
Phase one of The Brownstones would have to be completed in its entirety by September while phase two would begin construction by July, be completed by the end of 2022, and include six affordable units, according to changes approved to the redevelopment agreement.
Continue reading Agreement sets new timeline for Meridia Brownstones
Bridgeview concept adds units, new street
A revised concept plan for the Bridgeview project envisions about 300 units across the river from downtown while bifurcating the block to create a new public street, similar to what was done with two other downtown developments.