The Redevelopment Agency received a $350,000 judgment against the developers of Riverwalk.
Tag Archives: Essex Street
Foreclosures begin on final 19 Riverwalk units
Bank of America has started to foreclose on the 19 remaining unsold units at Riverwalk, said Redevelopment Agency Attorney Frank Regan at the agency’s meeting last week. The city also has begun the process on seven of those units for failing to pay property taxes, according to City Administrator and Redevelopment Director Peter Pelissier.
Parsippany-based Diversified Communities built the 86 Riverwalk townhomes off East Milton Avenue several years ago and at one point had considered plans for another three dozen or so on the neighboring Kings Inn property. The last Riverwalk unit to sell (that I could find) went for $420,000 in the fourth quarter of 2008.
The city still is pursuing the developers for failure to complete improvements, including street paving and striping. Regan said he was contacted by an attorney for the homeowners’ association to determine whether the improvements could be completed and paid through a mortgage commitment or if the city could complete the improvements and assess the units.
The city and county did some paving work on Essex and Johnson streets in the spring and will pursue the developer in court for reimbursement, but other work remains, such as drainage.
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Since we’re on the topic of foreclosure, here’s a Wall Street Journal story from yesterday about foreclosures hitting top-tier markets.
Essex, Hancock work to be done
It should be a good month for residents of Riverwalk. First, Myron R. Ross Park looks all but completed, and come Monday, the paving of Essex and Hancock streets will begin.
The City Council Tuesday night authorized $125,000 for materials while the labor will be done by the county, according to City Administrator/Redevelopment Director Peter Pelissier. The work is expected to take a few days. The city will continue to pursue Diversified Communities for almost a half-million dollars in improvements, or reimbursement of the improvements. The Redevelopment Agency declared the Parsippany-based developer in default of its redevelopment agreement last month.
Pelissier said other improvements that Diversified is responsible for, such as drainage, will be done after the complaint is settled.
City to pursue developer for improvements
The city is preparing a complaint against the developers of Riverwalk to compel them to complete almost a half-million dollars in improvements or recoup money to do the improvements on its own.
During his report at the last Redevelopment Agency meeting, RRA attorney Frank Regan said officials have met with the condo board and management company at Riverwalk to talk about a number of concerns, including various improvements that have not been completed.
The biggest issue, according to Regan, has been the failure of Diversified Communities to complete more than $400,000 in on- and off-site improvements, with some streets still not permanently paved, leaving sewer manhole covers exposed on Hancock and Essex streets.
Essex Street park to open next month
The park under construction along Essex Street is expected to open next month, according to this report in Sunday’s Star-Ledger.
Construction of the park started last fall. Though there’s no mention of it in the Ledger piece, it’s expected to be named after Myron R. Ross, a Rahway native killed while serving in the Marine Corps during the Vietnam War.
Park to be named for native killed in Vietnam
The park under construction on Essex Street will be named for Myron Ross, a Marine from Rahway who was killed in the Vietnam War.
Construction began in October and a dedication ceremony is expected later this year.
The City Council last month increased the bond ordinance for the park by $175,000, to $1.225 million, which includes $500,000 from a state Green Acres loan. City Administrator Peter Pelissier said the extra funds were the result of additional remediation needed at the site.
In 2002, the city dedicated Berzinec Park, which was named for William Berzinec, who also was killed in Vietnam. The site at Central and St. Georges avenues was home to the former public library until it was flooded by Tropical Storm Floyd in September 1999.
Work under way on Essex Street park
The new park along Essex Street near Riverwalk is taking shape, with work having begun several weeks ago. Installation of fitness stations began last week (although you can’t see them in the photo above). The City Council approved a $1-million bond ordinance for park improvements back in March.
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This has nothing to do with anything but, is it just me or does anyone else think of the guy from The Shield whenever “Joe the Plumber” has been in the news lately?
Park approved for Essex Street
The City Council approved a $1.05-million bond ordinance Monday night for park improvements near Riverwalk along Essex Street.
That makes for a good lead-in to our new poll question this month (to the right): How important is green/open space in your vision of downtown Rahway?
— Fewer condos, more parks.
— We don’t need Central Park, but balance new development with open space.
— If it doesn’t help pay taxes, don’t bother with it.