Two dozen units close at SkyView

The Redevelopment Agency is expecting a payment of $202,000 in fees for the sale of units at Sky View at Carriage City Plaza, Redevelopment Director/City Administrator Peter Pelissier said at last night’s agency meeting. Based on the redevelopment agreement and a new deferred payment schedule, that would mean about 40 units have closed so far.

I’ve heard that as many as 60 units have closed but only about two dozen have appeared in property transactions so far. The average for the 23 units closed so far is about $288,272, with a low of $233,050 and a high of $444,000. There were three purchasers with the same last name who bought two units in the building, according to real estate transactions.

The redevelopment agreement with Elizabeth-based Silcon Inc. calls for the agency to receive $10,000 per unit upon closing of each unit. This past summer the agency agreed to defer half the payment until it reached the level of water connection fees paid in June ($331,194). At $5,000 per unit, that would mean about 40 units have closed, given the $202,000 payment.

Agency passes on salon

By the slimmest of margins, the Redevelopment Agency did not recommend a zoning overlay that would allow a salon on Irving Street, within 1,000 feet of another similar business.

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Station Place rentals approved

The Planning Board unanimously approved an amended preliminary and final major site plan for Station Place on Tuesday night, paving the way for 116 rental units instead of the 80 condos that gained approval 18 months ago.
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Station Place returns to Planning Board

The developer who once proposed 80 units for the Station Place development is expected to come before the Planning Board Tuesday night with plans to convert the project into 116 rental units.

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Plan for Koza’s comes back


A new plan for Koza’s bar on West Scott Avenue was deferred Monday night until next month’s meeting, Oct. 20. Only five members of the Zoning Board of Adjustment were present, barely enough for a quorum.

Only Rahway Rising had the story last December when the Zoning Board of Adjustment rejected a concept plan for 12 units at the 3/4-acre site that would have renovated the 1920 structure and added a second floor. While Zoning Board members appreciated the plan, there was some concern about the density. The new plan includes nine townhouses but still requires a bulk variance and use variance.
Koza’s didn’t fare too well in our “What’s your favorite bar in Rahway?” poll this past spring, but it must be considered one of the “elder statesemen” of Rahway bars (read: old school), as I’ve heard the second-shifters at Merck used to patronize it back in the day.

Rahway hosts Downtown NJ conference

Rahway will host Downtown New Jersey’s annual conference (“Hard Times…Real Opportunities”) next week at the Union County Performing Arts Center. Downtown officials from all over the Garden State will descend on the city, starting with a redevelopment tour Wednesday night.
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A blog about all things redevelopment