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
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.
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.
Developers who shared in the cost of the Monroe Street extension received a payment of $1.5 million through Redevelopment Area Bonds (RAB).
A decade after being acquired in foreclosure, 160 of the 222 condo units in Carriage City Plaza have sold for $26.5 million.
Payments In Lieu Of Taxes (PILOT) are anticipated to account for $1.385 million in the 2020 municipal budget.
The Redevelopment Agency officially issued a Certificate of Completion for REVA Rahway, a rental complex on Main Street at the site of the former Center Circle sports complex that started leasing late last year.
Continue reading Certificate of completion issued for Reva Rahway