So the results of the Rahway Survey are in. Now what? Among the recommendations by Community Insights, it suggests that Rahway must undertake “a concerted retail recruitment effort to attract the kinds of stores, restaurants and businesses that consumers most want.”
Continue reading Retail recruitment, retention recommendations
Taking a break from redevelopment news: It looks like Cadillac Records, which opens today, can be added to the list of movies filmed in Rahway.
Thanks to a blog reader who passed along this report from All About Jazz:
“On a brisk March day in Rahway, N.J., Beyonce and Adrien Brody are filming a crucial scene for their upcoming movie, Cadillac Records. The set is an old Ukrainian social club that has been converted into a 1950s production studio, complete with vintage instruments and cream, perforated walls.”
Both Yahoo! Movies and IMDB mention filming locations only as New Jersey, nothing more specific.
Meanwhile, The Wrestler, which we mentioned early this year and opens in limited release Dec. 17, is racking up indy nominations, rave reviews and Oscar talk.
With no work going on at The Savoy, now there’s not even any word from its developers.
Redevelopment Director and City Administrators Peter Pelissier reported at last month’s Redevelopment Agency meeting that the agency’s attorney has been unsuccessful in reaching attorneys representing Dornoch Holdings.
Pelissier said Dornoch is represented by Al Faiella, who for what it’s worth had some interesting dealings in Newark redevelopment.
Given the market, the guess here — and that’s all it is — is that The Savoy will go the way of other projects and shift to rentals. That would require an amendment to its redevelopment agreement, which would need approval from the Redevelopment Agency. The credit crunch has done the same thing to other projects in Rahway. Another Dornoch project, The Lofts, shifted to lease-to-buy options with three of the four units signed up at Irving and East Cherry streets. (Here’s an AM New York report about condo inventory rising amidst slumping sales in New York.)
Pelissier reported at the last Redevelopment Agency meeting (Nov. 12) that the mayor, in speaking with Dornoch principal Glen Fishman about the burned out East Cherry Street property, indicated he’s interested in selling and there may be a buyer.
Dornoch received approval last year for a plan to renovate that site, where a fire occurred some five years ago. Dornoch also acquired a strip of East Cherry on the other side of the street, along with multiple properties along Main Street in anticipation of The Westbury. That project is essentially on hold as the city and Parking Authority move forward on their own with the parking component.
Dornoch had been considered for the Hamilton Street project that would rehabilitate the Shami Apartments for senior and/or artist housing and turn the Bell Building into an arts space but you can expect that redeveloper’s designation will expire and another developer sought.
There were several keyword searches the week before last that led to Rahway Rising, namely, “how can I purchase the retail property of the chowder pot in rahway,” and “chowder pot rahway nj out of business.” Another one of interest was “are there any available liquor license in rahway nj.” Is there nothing Google Analytics can’t do?
I’m told that The Chowder Pot’s liquor license was sold at auction following bankruptcy proceedings but has yet to be transferred.
There also were 14 keyword searches the same week for “Wolff & Samson Carriage City” that eventually found the blog, though not all were new visitors. The trend continued last week with 8 searches, though none were considered “new visitors.” The West Orange-based law firm represents Carriage City Plaza and it’s the third week in a row that a number of keyword searches made it to the blog. One visitor’s keyword search was “problems at Carriage City Plaza.” [Dec. 5 update: I’m told Wolff & Samson no longer represents Carriage City, “after both parties were not pleased with each other’s work.”]
There’s also the keyword searches you wouldn’t expect would find their way to the blog, like “How to wash laundry in the river.” Sorry, can’t help ya there.
I’m blogging early this week from the West Coast so the posts might arrive at odd times and I’m also catching up on local items. A regular reader already commented on this nj.com story about downtowns in this downturn, but I thought it’d be worth linking to; though it doesn’t mention Rahway, it’s relevant.
Then there’s this report about the St. Georges Apartments selling for $3 million, in which Rahway is mentioned as “very attractive to investors because there is no rent control and it has an impressive downtown redevelopment area taking form as we speak.”
The Planning Board last Tuesday gave major preliminary site plan approval and a bulk c variance for 88 rental units for the proposed Renaissance at Rahway. It’s the third time the Planning Board approved some form of the plan for the site on East Grand Avenue from Montgomery Street to Monroe.
There will be 88 parking spaces on the ground floor, one for each of the 44 one-bedroom and 44 two-bedroom units, with apartments above the parking on floors two through five.
An engineer for Renaissance said it would be impractical and economically infeasible for the site to comply with state Residential Site Improvement Standards (RSIS) for parking but alternate, local parking standards are allowed under the redevelopment agreement. Planning Board members were confident the commuting nature of the area would not require more parking spaces for the development.
Another aspect that will have to be addressed, but wasn’t required for site plan approval, is a new service access point for neighboring Riverton (the former Rahway Geriatrics Center) since the existing service access is from Montgomery Street which will be eliminated between East Grand and Monroe Street.
There also were some concerns from Planning Board members about the type of material to be used for the building’s facade, but Renaissance representatives assured the board they would use whatever material the city preferred. “We don’t want that type of issue to slow us down,” said Joseph Ranieri, an attorney with Weiner Lesniak representing Renaissance.
Developers presented modified plans to the Redevelopment Agency in August, which was the first time 88 units were suggested for the site. Originally, the idea was to build 72 for-sale condos but since the project shifted to rentals Renaissance had floated the idea of 64 rentals in a first phase, and possibly a second phase if one property eventually was acquired.
Developers will move forward on Block 379, Lots 2-8 and Block 378, Lot 1.01, leaving out Block 379, Lot 1, which could not be acquired from one property owner.
Informative story in Sunday’s New York Times about condo projects turning to rentals, namely the state law that says after 75 percent of units are sold, “management shifts control to a homeowners’ association.”
It’s definitely worth a read, and particularly timely and relevant in Rahway. Apparently, it’s not uncommon in this market to go from condo to rental:
Developers often decide to switch from condo to rental, or vice versa, depending on which way the market is turning. Mr. Stolar said that he was aware of several condo developers who were contemplating the switch at buildings where sales are going slowly — or are even stalled — right now. And he isn’t the only market watcher to see this as an issue for a number of builders.
Switching to rentals is “a way to create cash flow,” he said, “and the rental market is still strong” compared with the condominium market.
Not only have two projects originally planned as condos shifted to rentals this year, bu
t I’ve been asked a few times whether Sky View at Carriage City Plaza is converting to rentals. Not likely. While individual unit owners can rent their apartments (and several units have been purchased by the same owner, by my count), Silcon Inc. would have to seek approval from the Redevelopment Agency to amend the redevelopment agreement. And I’ve heard nothing to even hint that such a move would be sought — much less gain approval.
With 209 units in Sky View, 75 percent of the building would be 157 units. By my count, almost three dozen units officially have sold and appeared in property transactions, but I’ve heard that as many as 65 percent of the units have closed.
Happy Thanksgiving!
A temporary, artificial ice rink will be installed in front of City Hall and will be available for several weeks after the tree lighting ceremony on Friday. The synthetic surface allows the use of regular ice skates.
The rink came up during a discussion at the last Redevelopment Agency meeting about the property along Augusta Street and East Milton Avenue, which probably will be used for parking for at least two years.
Landmark Companies will let the city use the parcel for parking until it obtains other parts of the block, City Administrator and Redevelopment Director Peter Pelissier said.
Landmark has purchased several parcels along Main Street, including the Wenson Associates building on the corner of East Milton.