All posts by rahwayrising

Foreclosure

Foreclosures begin on final 19 Riverwalk units

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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.

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Uncategorized

Rahway among DEP-selected brownfield sites

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Rahway was among six sites chosen as Brownfield Development Areas last week by the state Department of Environmental Protection. The designation allows towns to identify clusters of brownfield sites, which have been abandoned or underutilized because of known or suspected contamination, for coordinated remediation and redevelopment. More importantly, cities are eligible for up to $5 million in grants annually for investigation and remediation along with the assistance of a case manager to oversee the process.

There were eight sites eligible in Rahway:
– The former Hamilton Laundry site where a 1,100-seat amphitheater is planned
– Myron Ross Park on Essex Street
– Park Square
– The proposed Station Place project on the site of A&M Supply on Campbell Street
– The former Wheatena factory on Elizabeth and West Grand avenues
– City Hall Plaza (due to the Police Department’s gas pumps)
– The Savoy
– The Westbury

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Downtown, Rahway

City looks into East Cherry Street building

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City Administrator and Redevelopment Director Peter Pelissier said he has asked the city engineer and city construction official to investigate whether the burned out building on East Cherry Street is structurally sound or should be razed.

The barricades that went up in front of the building within the last month were placed there by the Department of Public Works as a precaution, according to Construction Official Richard Watkins. He said the front wall, which is wood frame construction, is no longer held in place by a floor system, so if one leans on the wall, a slight gap opens between the sidewalk and face of the wall.

The eyesore at 65 E. Cherry St. was acquired by Dornoch for $65,000 from the Parking Authority. A fire occurred in summer 2005 when it was home to a wig and beauty supply store.

Prior to the collapse of the real estate market, circa November 2007, Dornoch had plans to develop the property, adding a third floor with residential units on the second and third floors and ground-floor retail.

The grassy lot next door, adjacent to the Rahway Grill, at one point was considered for a possible walkway/promenade access to the Lewis Street parking deck.

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Apartments, Carriage City Plaza, Condos, Downtown

101 units accounted for at Sky View

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More than 100 units are either rented (43) or sold (58) in Sky View at Carriage City Plaza, as of the end of last month. That would account for 101 of the 222 units in the 16-story complex. (Remember when half were under contract?)

City Administrator and Redevelopment Director Peter Pelissier told Redevelopment Agency commissioners during their meeting Wednesday night that another unit has closed and two more are under contract and may close soon. Pelissier said he was told by Carlos Silva of Carriage City Properties to expect a letter shortly regarding payment to the agency for the latest unit closing. It would be the first unit to close since early this year, with the most recent appearing in property transactions in April.

The agency’s settlement agreement with Carriage City Properties, however, remains unsigned. Pelissier told commissioners he would have more information at next month’s meeting and likely would require an executive session meeting to discuss “sensitive issues” and determine a course of action.

Carriage City began marketing rentals almost a year ago ($1,250 for a one-bedroom at the time, which has since increased to $1,350), in violation of their redevelopment agreement, which prompted discussions with the agency and ultimately a settlement.

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Crime, Police

Robbery, larceny spike but overall crime rate flat

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Robbery and larceny spiked last year, but most other crime remained below the five-year average as Rahway’s crime rate dipped. Released last month, the state’s Uniform Crime Report (UCR) compiles town-by-town data from 2008.

Continue reading Robbery, larceny spike but overall crime rate flat →

Arts District, Bars, Commercial, Downtown, restaurants, Retail

Work moves to exterior at Station Bar & Grill

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Work on the future site of Station Bar & Grill on Irving Street appears to have made its way to the front exterior of the building last week.

Some interior work looks like it was going on for a few weeks. The project was approved by the Planning Board in June, details of which can be found in the earlier post.

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For a look at what some nearby towns have in mind as far as redevelopment, here’s a piece from nj.com about Fanwood’s efforts to make its downtown more like Cranford or Westfield.

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Commercial, Downtown, office space

Woodruff Building on the block

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One of my favorite buildings in Rahway, The Woodruff Building on the corner of Irving and Lewis streets, went on the block this month with an asking price of $799,000. Sure, it could use some sprucing up, but I like buildings with a name etched in the cornerstone or along the top floor; it adds a bit of character and some history. (When I get a chance, I’ll track down some info on this Woodruff fellow.)

The two-story structure at 1439 Irving St./62 Lewis St. consists of about 9,500 square feet, with offices on the second floor and the Rahway Dance Theatre and retail space occupying the ground floor. Built in 1920, the property is assessed at about $300,000, paying property taxes of roughly $15,200.

Earlier this decade, the building was eyed as the new location for The Waiting Room. Owner Chris Wenson said he had a deal to buy it in 2000 for $450,000 from Leung Chen but couldn’t until the Redevelopment Agency bought the old Waiting Room, which relocated to make way for the parking deck and hotel. By the time the city came up with the money to buy The Waiting Room three years later, he said Chen decided not to sell. “It would have made a nice restaurant but it would not have been as big as what we have now,” said Wenson, who opened at his East Cherry Street location in 2006. The Waiting Room closed at Lewis and Main streets in 2004.

I recall some opposition at the time to relocating the existing Rahway Dance Theatre, which still is a tenant along with two second-floor office tenants. Chen sold the property for $800,000 two years ago to the current owner, an entity called 1439 Irving St., LLC which lists a Bryant Street address, according to property records.

Wenson said his father owned The Woodruff Building when he was a child and his dad and uncle had their offices there, recalling a time capsule buried in one of the walls during the ’70s.

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Bars, restaurants

Times: Cubanu ‘uneven but generally satisfying’

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The New York Times on Friday had a review of Cubanu, calling it “uneven but generally satisfying.” They loved the starters, particularly the crab and avocado salad, and the desserts. They also described the restaurant as three years old but it’s more like two, having opened in late 2007.

Last year, The Star-Ledger gave Cubanu 2 1/2 stars, and of course, here’s our take from way back in January 2008 soon after it first opened. I’ve been back since and I’d say the appetizers still are my favorite part of the menu.

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