The city’s overall assessed value was largely unchanged last year, with some marginal decreases in some classes and the largest drop coming in Commercial assessments, which were down less than 2 percent.
Category Archives: Downtown
30-year PILOT for Center Circle development
A 219-unit development approved for the former Center Circle site on Main Street would pay at least $500,000 in the first year of a proposed 30-year Payment In Lieu Of Taxes (PILOT) arrangement, with payments in the final year approaching $1 million.
Continue reading 30-year PILOT for Center Circle development
Redevelopment agreement OK’d, 30-year PILOT sought
The Redevelopment Agency approved a redevelopment agreement with developers of the Center Circle site on Main Street that would pay a fee of $1,750 per unit, contingent on a 30-year Payment In Lieu Of Taxes (PILOT) agreement to be voted upon by City Council tomorrow night.
Continue reading Redevelopment agreement OK’d, 30-year PILOT sought
Remediation work begins on Main & Monroe site
Soil remediation began last week on a downtown site where a five-story, two-building, apartment complex is planned.
Continue reading Remediation work begins on Main & Monroe site
Top posts of 2017
With 2017 in the books, let’s have a look at the most popular posts of the year, as judged by you, the reader, based on most page views.
The Willows begins accepting applications
Applications began being accepted last week for The Willows at Rahway, a 58-unit affordable housing complex with a preference for artists, with occupancy aimed for the spring.
The Gramercy tops out
Some eight months after breaking ground, the five-story Gramercy development along East Cherry Street has topped out.
Uptick in downtown property transactions?
Two of the largest property sales downtown have occurred in the past year (Center Circle and Watt Hotel) but it would seem there’s an uptick in the number of sales of downtown properties, large and small, in the past two years. Continue reading Uptick in downtown property transactions?