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Rahway Rising Happy Hour next week

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Back by popular demand — and far too long in the making — the next Rahway Rising happy hour will be next Thursday, Jan. 26 at Nancy’s Towne House.

The groupies tend to start arriving around 6 p.m. Hope to see you there. Anyone with an interest in having some fun, maybe chatting a little about redevelopment, or just meeting your neighbors. All are welcome.

We’ll also be raffling off two tickets to The Rahway Taste of Spring. Maybe afterward we’ll all hit up the Mayors Council on Rahway River Watershed Flood Control meeting at 7:30 p.m. in the library.

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Rahway, Redevelopment Agency

Auto parts store seeks renovations

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After a plan to create a park at the site didn’t pan out, a downtown auto parts store is looking to add an apartment to its second floor. Continue reading Auto parts store seeks renovations →

City Council, taxes

State of the City 2012

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In what could be called dueling State of the City addresses, Mayor Rick Proctor and City Council President Samson Steinman both delivered remarks at tonight’s annual reorganization meeting, assessing the city’s position as it enters a new year.

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City Council, City Hall Plaza, library, taxes

Meridia PILOT, redevelopment agreement OK’d

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The developer of the proposed Meridia Water’s Edge will pay $216,000 annually — roughly $2,000 per unit — to the city for 10 years in lieu of regular property taxes that normally would be split among the city, county and school district.

The City Council unanimously approved the Payment In Lieu Of Taxes (PILOT) at its meeting Dec. 12 [Ordinance 29-11], with no comment or discussion among members of the governing body. The lone public comment during the meeting came from Patrick Cassio, the local Republican chairman former mayor candidate, who bemoaned the fact that the PILOT avoids any payments to the school district. Union County will get some portion of the payment.

How much the property would have normally paid in property taxes, or how the $216,000 figure was arrived at, is unclear. Currently, the vacant land is assessed at $161,700 but generates no tax revenue since it’s owned by the Redevelopment Agency, which does not pay taxes. (Theoretically, the assessed value would generate a property tax bill of about $9,322, based on the current overall tax rate of 5.765 per $100 of assessed value).

Capodagli Property Company will acquire the three-quarter acre property (Block 305, Lot 5.04) from the Redevelopment Agency for $1 million, minus a credit for removing soil on the site left from the construction of the library a decade ago. The agency approved a redevelopment agreement at its meeting this month. Principal George Capodagli told the Redevelopment Agency this month that the cost of soil removal was about $160,000, which would make for a final sale price of about $840,000. City Administrator and Redevelopment Director Peter Pelissier initially anticipated the cost would be upward of $250,000.

The five-story, 108-unit Water’s Edge will have about 87 parking spaces on the ground floor and will use 21 parking spaces in the adjacent lot owned by the condominium association that operates the library building. The rental development will have 56 two-bedroom units and 52 one-bedroom units.

The Planning Board gave its approval of the plan last month, and the City Council amended the redevelopment plan to include the site. Only one council member objected at the time, based on concerns about not requiring some type of LEED-certified construction.

Water’s Edge will be the second project undertaken by Capodagli Property Company in Rahway. The Pompton Plains-based firm completed Meridia Grand, an 88-unit rental complex last year, which sold for $19 million several months ago. Capodagli also is in negotiations to acquire the former Savoy property, which has been stalled for many years. The firm is expected to present a concept plan for The Savoy site to the Redevelopment Agency early next year.

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Commercial, Downtown, restaurants, Retail

East Cherry Street eatery closes

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After about 18 months in operation, Casa Borinquen on East Cherry Street closed last week. The eatery specializing in Puerto Rican fare opened in March 2010.

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Arts District, Commercial, Downtown, Retail

Restriction lifted on proposed jazz club

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The Redevelopment Agency last night officially agreed to consider uses other than those permitted in the redevelopment agreement for the former Kelly’s Pub property.

A principal of the proposed KC Jazz Club at 1646-54 Irving St. (Block 162, Lots 5-7) made his case to commissioners at their meeting last month, arguing that financing evaporated while annual costs continue unabated. A restriction limiting the property to use as a jazz club apparently also hindered any potential sale or new developer to resurrect the project.

(Note the new sign in recent weeks, “Commercial Building Available,” on the left in the photo above, juxtaposed with the one on the right that says: “Coming Soon! KC Jazz Restaurant.”)

The resolution was adopted during a special meeting last night, a week after a lack of quorum for last week’s regularly-scheduled meeting did not allow for official action to be taken.

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Check out this piece from Crain’s New York Business about Brooklyn’s Myrtle Avenue. Twenty years ago, you’d be told to avoid the Clinton Hill neighborhood’s “crime-ridden main drag.” Today, 97 percent of the businesses are locally owned, with eight new arrivals in the past year, and 78 percent of them are minorities and/or women.

The story provides some details about community leaders and longtime residents creating a revitalization project in 1999 that has morphed into a business improvement district with an annual budget of $1 million thanks to money from the city, private foundations and fees on local landlords.

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City Hall Plaza, library

Water’s Edge gains Planning Board approval

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The Planning Board unanimously approved a major site plan and parking exceptions for Meridia Water’s Edge after about two hours of testimony Tuesday night.

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Apartments, Downtown, Rahway

Steel dismantled at The Savoy site

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The steel beams for The Savoy sometimes pointed to as symbols of overly-ambitious redevelopment efforts, were finally dismantled last week.

The beams were installed in summer 2008 and by the fall, the project at the corner of Main and Monroe streets already had come to a standstill.

The original plan proposed by Dornoch Holdings called for 36 two-bedroom, two-bath units in a four-story structure, with 7,000 square feet of retail space on the ground floor. The units had starting asking prices of $315,000 in pre-construction, in early 2008.

The city has been in discussions with Capodagli Property Company about developing the site, but it would be upward of 100 units rather than the original 36 proposed. The Pompton Plains-based developer is working with Wells Fargo to acquire the property and complete the foreclosure process, according to city officials.

The Capodagli firm is scheduled to appear before the Planning Board Tuesday for its proposed 108-unit project behind the library, Meridia Water’s Edge. The company recently was selected as developer for 240 units on the former Bolmer Motor Car property in downtown Bound Brook.

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