The Redevelopment Agency was not willing to move forward until the developer had firm site control, Landolfi said in a telephone interview wafter last month’s meeting. “They’ve been able to do that, this was them coming back in with a new face and presenting the project and asking to be designated as redeveloper,” he said.

Russo Development has closed or have contracts of sale with all of the properties involved except for a PSE&G substation at Clarkson Place and Monroe Street, according to Landolfi. That part of the project would be completed in the second phase.

The revised concept is somewhat smaller than the previously proposed 300 units and also doesn’t split the block in two, instead placing amenities within a center courtyard of the building. It would, however, be built in two phases, with the majority of construction in the first phase and the second phase expanding into the PSE&G substation lot.

The proposed 292 units would include:

• 152 1-bedrooms
• 87 2-bedrooms
• 37 studios
• 16 3-bedrooms

The previous concept plan by Tesla had proposed the makings of a Riverwalk of sorts along the river.  That anticipated a lot of public money that Landolfi said may not have been feasible.

The Redevelopment Agency designated Russo as redeveloper following the presentation during last month’s meeting. Tesla Development previously had been designated as redeveloper. The next step is for Russo to get before the Redevelopment Agency’s professionals to flesh out the concept plan, according to Landolfi. He also anticipates a few redevelopment plan  amendments that must go before City Council as well.

Landolfi described Russo Development as a having a good reputation with the financial wherewithal to complete the project. Russo Development has constructed Vermella buildings in Garwood, Harrison, Kearny, Woodbridge, and near Union Train Station and Kean University, a mixed-use development that ultimately will have 1,360 units.