The Redevelopment Agency last month unanimously adopted a resolution (6-0) approving a redevelopment agreement with R2-N2 Properties, which has approval to build a 45-unit complex along a stretch of East Cherry Street currently occupied by several storefronts.

The resolution was adopted at the agency’s March 2 meeting. The redevelopment agreement was approved in principal but negotiations and final review are still in progress, according to Redevelopment Agency Executive Director Leonard Bier. Hopefully, he said, a final agreement will be ready by the agency’s next meeting, which is this Wednesday.

UPDATED, Nov. 27, 2017: The 63-page redevelopment agreement with R2-N2 Properties, obtained through an Open Public Records Act Request (OPRA) filed on Nov. 18, can be found in its entirety in this link.

The Gramercy, a five-story, 45-unit development, got Planning Board approval in November. The plan includes razing the properties at 38-52 E. Cherry St., including the Police Assistance Center next to the entrance to Parking Lot B, a two-story building that houses Rahway’s Finest Barber Shop, and the former restaurant space that has been vacant for many years but previously occupied by Eat to the Beat Cafe some 20 years ago but more recently by Taste of Portugal. Rahway’s Finest Barber Shop will be relocated around the corner into a renovated commercial space on Irving Street.

Waldwick-based DMR Construction established Cherry Street Properties, LLC, to acquire the properties (Block 318, Lots 18-21 and 1.03) for the project and its R2-N2 Properties, Inc. submitted the application to the Planning Board.

The 45 units would include 23 one-bedrooms, 19 two-bedrooms and 3 studios, ranging from 455 to 1,030 square feet. A retail space of about 1,215 square feet is expected be occupied by a local coffee shop.