For those of you who noticed a film crew at Stewart’s Drive-in on Jaques Avenue on Thursday, apparently ESPN Radio was filming a commercial for Mike & Mike in the Morning. They also used the St. Mark’s Church parking lot on Hamilton Street while doing other shoots around town. Thanks to all who emailed/commented with a heads-up.
Category Archives: Uncategorized
The Savoy to resume in the spring?
The Savoy apparently has been approved for financing and the hope is that construction will resume this spring on the 36-unit project. There’s been virtually no activity on the site since last summer.
City Administrator and Redevelopment Director Peter Pelissier told the City Council and Redevelopment Agency this week that Mayor James Kennedy received a phone call from Glen Fishman, managing director with Dornoch, that financing had been approved. Dornoch had been re-negotiating with Wachovia.
Hillside-based Dornoch Management also is completing The Monarch, a senior housing/condo project in Plainfield. That project, which appears much further along, apparently has units starting at $199,000, a 45 percent correction over the $360,000 asking price when ground was broken 18 months ago. Banners adorning the fencing at The Savoy as recently as last summer boasted of units starting at $315,000.
The Savoy seeking financing
Developers of The Savoy are trying to renegotiate a loan with Wachovia bank, City Administrator/Redevelopment Director Peter Pelissier reported at last week’s Redevelopment Agency meeting. Pelissier said he’s received messages from Glen Fishman, managing director of Hillside-based Dornoch Management, indicating the firm is still committed to completing the 36-unit condo project. Pelissier estimated Dornoch already has invested $3.5 million in the project.
Dornoch’s investors, a hedge fund based in Holland, apparently are looking for a lender before they make another capital call, Pelissier said, adding that a loan had been in place until it was called in to renegotiate by Wachovia. Charlotte, N.C.-based Wachovia was acquired by Wells Fargo last October after overtures from Citigroup. If Dornoch can’t get a loan, Pelissier said, The Savoy may become rentals but the firm is aiming to complete the project as the originally proposed condos.
Pelissier said Fishman wants to complete The Savoy as for-sale condos, before moving onto the firm’s other projects along East Cherry Street (the storefronts that include The Beverage Shop). Fishman has told city officials that he’s interested in selling the burned out East Cherry Street property which Dornoch purchased from the Parking Authority and as recently as November 2007 had plans to renovate it.
The Savoy’s retail space has been marketed by The Schultz Organization, a Woodbridge-based commercial real estate firm, as recently as December with a projected occupancy of “fourth quarter 2009.”
Welcome back, Poll
We took a peek at the top posts of 2008 by number of page views over the weekend. Tonight we’re bringing back the poll after a months-long absence and letting you vote: What was the biggest story of 2008 on the blog? Obviously, the decline in the housing market and the collapse of the economy in general had an effect locally, but what was the most significant development locally?
* The opening of Carriage City Plaza/Hotel Indigo
* Work at The Savoy coming to a halt
* Tabulation of the Rahway Survey
* The reopening of the Union County Arts Center
* The slow pace of redevelopment in general
* The fast pace of redevelopment in general
* Other
There’s always that “Other” category, so feel free to explain what that might be to you.
HoJo likely to replace Kings Inn
Several residents of the adjacent Riverwalk townhouse development appeared before the Planning Board last Tuesday night to question the application and remedy concerns about illicit activity at the site.
Principals of Ratan Rahway, the developer, promised that the new hotel will not accept Section 8 (welfare) housing, as is the case with the Kings Inn. As a franchise, the hotel would be expected twice a year to continue to operate under one of the Wyndham brands.
Plans are to renovate the existing rooms, along with turning the tower in a two-story structure. They expect to invest $800,000 to $900,000 in renovations. While the original two-story structure will not be razed, developers said they plan to have a new facade, roof and all new furniture and amenities in each room, along with eliminating the existing floor-to-ceiling windows, which was a concern for some residents. New fencing also will be erected between the hotel site and adjacent townhouse development.
The property (1360 Route 1/Block 304, Lots 5-6) last changed hands in 2004, when it was purchased for about $1.1 million from LTL Hotel Corp. by The Rahway Tower, LLC, according to PropertyShark.com.
The top posts of 2008
1. Cubanu: A review, 855 page views
2. Luciano’s set to open, 847
3. On tap for 2008: Park Square, Sky View, 837
4. Luciano’s open for business, 446
5. Luciano’s: A review, 427
6. Pizza Pizza, 404
7. Zoning Board KOs condos at Koza’s, 387
8. Rahway welcomes Hollywood, 330
9. Eatery targets July opening, 267
10. The Waiting Room by a mile, 238
Hmm…I sense a restaurant theme. Maybe we’ll focus a bit more on that if that’s what readers want, although of the 132 posts in 2008, 20 were restaurant related. It’s likely a common way to find the blog, while looking for info about new restaurants, particularly Luciano’s and Cubanu. In 2009, we’ll also try to more consistently offer news outside of downtown, like Route 1 or St. Georges Avenue.
A look back at 2008
– Town Center negotiations were continuing and the project was “continuing to be defined.” The plans may still include some of the aspects originally proposed but the residential and retail components likely will come in phases, at last estimate, around 2013.
– Luciano’s opened and received favorable reviews, not just from readers here, but also The Star-Ledger.
– Carriage City Plaza opened in the summer. While the Hotel Indigo reportedly has enjoyed a solid occupancy rate, about 40 of the 200+ condos at SkyView have closed, and it’s unclear how many might be owner rentals.
– Park Square was to open this year but a revised timeline is looking more like March, though construction on the Main Street side of the project started in 2008. The photo below right is from January 2008, left, is from December 2008.
– The Hamilton Laundry building was finally demolished in August.
– The economic meltdown and ensuing credit crunch was enough to change two projects. Station Place and Renaissance at Rahway both received approvals last year to become rentals instead of for-sale condos.
So what does 2009 hold for Rahway? Any predictions?
You’d have to think that people will finally move into Park Square. Let’s hope that something more substantial starts happening at The Savoy. As for new shops or stores though, let’s be honest, it doesn’t look good given the retail sector and the economy in general. Who knows what’s going on with the retail space at Carriage City Plaza, where a coffee shop, dry cleaners and restaurant has always been part of the plan. In recent weeks, two more downtown spaces have closed up shop or will close: the former photo store at the corner of Irving and West Main streets and the art gallery at 89 E. Cherry St.
Luciano’s among best of ’08
Luciano’s Italian Ristorante and Lounge, which opened in January, was chosen among 11 of the state’s best restaurants of 2008 by The Star-Ledger last week:
“No jackets are required, but Luciano’s, a cavernous Tuscan-style restaurant, evokes a more genteel time. Not a mediocre dish on the table. Menu includes many standards — fried zucchini, mozzarella and roast peppers, veal saltimbocca. A great place to bring family for a good white-tablecloth meal at reasonable prices. Desserts, too, are made with care.”
Our last visit, for dinner just before Thanksgiving, was definitely a thumbs up — nice appetizer, great entree (Ahi Tuna) and good service. The chunks of blue cheese in the martini were a surprise; E for effort on trying to be distinctive, but I could do without it.