The 15-year Payment In Lieu Of Taxes (PILOT) requested by Metro Rahway would be $265,000 annually, according to a revised ordinance (O-35-13) that the City Council is expected to approve tonight. The council will meet for a combined conference agenda/regular meeting at 7 p.m.
Tag Archives: Metro Rahway
PILOT considered for Metro Rahway project
City Council is slated to approve the fourth Payment In Lieu Of Taxes (PILOT) for a new development in the last 18 months. The governing body last month introduced an ordinance for a PILOT for Metro Rahway and will have a public hearing and final vote at its meeting on Monday night.
Metro Rahway adds 13 parking spaces
A new plan for Metro Rahway will net an additional 13 parking spaces after acquiring an adjacent lot and adding a fitness center and leasing office to the original proposal. The Planning Board on Tuesday night unanimously approved an amended site plan, relaxing the parking requirements under the city’s redevelopment plan.
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| Building to left was acquired. |
With the addition of 20 spaces as a result of acquiring 91 W. Cherry St., a leasing office and fitness center was added to the Campbell Street side, eliminating seven spaces from the parking garage, according to Clay Bonny, managing member of Heartstone Development. He told the Planning Board that the project probably would be completed by about August 2014.
The 116-unit rental project on Campbell Street between Elm Avenue and West Cherry Street originally had about 107 on-site parking spaces in a ground-floor parking garage and another 18 on-street spaces (a ratio of 1.07 per unit). The additional 13 spaces will bring the total spaces provided to 138 (120 on-site), for a ratio of 1.18 — closer to the 1.25 required in the redevelopment plan. The added parcel also reduces the impervious coverage from 75 percent to 72 percent.
The addition of Lot 6 also allowed for moving the West Cherry Street entrance a little further away from Campbell Street as well as increasing the side setbacks, reducing the building’s footprint. Another adjacent property is for sale by owner but Bonny said it would not affect his project enough to acquire it.
Metro Rahway acquired 91 W. Cherry St. (Lot 149, Block 6) in May for $157,500, according to property transaction records. The property, assessed at about $110,700, paid almost $6,700 in property taxes last year. In all, The developer has spent almost $3.5 million to acquire the six parcels that make up the 1.6-acre Metro Rahway site. The six lots were most recently assessed for a total $1.285 million, generating property taxes of about $77,750.
One longtime West Cherry Street resident spoke during the public session of the meeting, supporting the project but raising concerns about the lack of on-street parking.
Metro Rahway seeks 21 more parking spaces
The Planning Board is scheduled to hear an application Tuesday night that would create another 21 parking spaces for the 116-unit Metro Rahway project on Campbell Street and Elm Avenue.
The plan as approved previously would create a five-story rental development, including a ground-floor parking area of 85 spaces but another 21 parking spaces are sought on a particular lot within the development. The project had planned to use another 17 on-site parking spaces and 18 on-street spaces.
The applicant is seeking to amend an existing board approval for a four-story building on Blocks 149, Lots 1, 5, and 23-25. Lot 6 is sought to incorporate into the project and provide an additional 21 parking spaces and “other associated access and internal circulation improvements,” according to a certified letter to neighbors from Metro’s attorneys, Parsippany-based Pitney Day.
The Planning Board will meet at 7 p.m. in City Council Chambers, 2 City Hall Plaza.
UPDATE: If the Planning Board approves the changes, Metro Rahway would have 120 parking spaces on site for the 116 units, plus 18 on-street spaces, according to Clay Bonny of East Hanover-based Heartstone Development, which also built River Place at Rahway “Lots 5 and 6 are adjacent to each other and we can expand the entrance from [West] Cherry [Street] to include parking on both sides of the entry boulevard,” he said in an email.
Demolition under way on A&M Supply building
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| (Photo By Derron Palmer) |
Demolition is under way on the A&M Supply building on Campbell Street. The industrial building along with a neighboring residential property at the corner of Elm Avenue will come down to eventually make way for Metro Rahway, a five-story, 116-unit rental project.
Continue reading Demolition under way on A&M Supply building
Water study: City could be 2 million gallons short
Rahway can generate six million gallons of water per day but could come up two million gallons short, according to a recent study. The shortage doesn’t mean your faucets are in danger of running dry but it is likely to impact your wallet.
Continue reading Water study: City could be 2 million gallons short
Campbell Street demolition to begin next month
Demolition of the A&M Industrial building on Campbell Street is expected to begin within the next month.
Continue reading Campbell Street demolition to begin next month
Demolition looming for Campbell Street building
The industrial supply company that eventually will make way for a 116-unit rental complex could be out of its Campell Street facility within the next few weeks.
Clay Bonny of Heartstone Development expects A&M Industrial to move out of the Campbell Street building by the middle of next month, anticipating another six to eight weeks to after that for demolition to begin. That would put a timeline for demolition sometime in June. Some activity is noticeable around the neighboring home at 1442 Campbell St. (corner of Elm) that also will be razed to make way for the five-story project, which changed its name from Station Place to Metro Rahway.
A call to A&M Industrial yielded a recorded greeting indicating that they have moved around the corner to 37 W. Cherry St. for the time being, with a distribution facility on Hopkinson Street.
Redevelopment Director Peter Pelissier told Redevelopment Agency commissioners earlier this month that Heartstone has filed an application with the city for a Payment In Lieu of Taxes (PILOT) but he will ask that it not be acted upon until other issues are resolved with the project. A&M Industrial is apparently seeking some relocation assistance via litigation.
The A&M property was acquired by Metro Rahway Urban Renewal, LLC in East Hanover for $2.87 million on Nov. 20, according to property records.