A proposed 300-unit development across the river from downtown could be built in phases depending on property acquisition, which would ideally include relocating a PSE&G substation.

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The Redevelopment Agency approved a resolution (Res. 30-20) to authorize entering into a pre-development agreement with Tesla Redevelopment Urban Renewal, LLC, during a special meeting on Dec. 22.

Tesla Redevelopment presented the agency with a revised concept plan in November for Bridgeview. The five-story development would be about 300 units within two buildings, encompassing the entire block around Clarkson Place, Bridge Street, Monroe and Essex streets. The proposal would split the block, totaling about 3 acres,  with a new public street.

The pre-development agreement was signed last week and is a precursor to a redevelopment agreement, Redevelopment Director Robert Landolfi said during a telephone interview on Monday. Both the agency and developer wanted to jumpstart the acquisition as opposed to waiting until a redevelopment agreement was negotiated.

 The pre-development agreement allows the agency to participate in the acquisition process, Landolfi said, adding that one of the issues is the PSE&G substation, located on a 0.8-acre lot at Monroe Street and Clarkson Place. The agency also would  participate in another acquisition of a property that’s in foreclosure, according to Landolfi. Depending on property acquisitions, Bridgeview could be built in phases, he added.

The worst case scenario is that PSE&G tears down the substation and fully encloses a new one, Landolfi said, while in the best case, the utility is able to relocate it. With or without that property, Bridgeview is still a project, he said, but “it would make for a much better project if we could acquire it.”

It’s easier for the agency to deal with PSE&G than a private developer, according to Landolfi. “We have the wherewithal to help them with relocation. It just makes sense for us to be in the middle of that.”

The agency can’t condemn the PSE&G property but it can facilitate another property for the utility. “We first talked to PSEG a year ago. They were very anxious to identify another site and get under contract and move the whole thing forward,” Landolfi said. “They’ll relocate themselves; their preference is to relocate that substation,” he added. “We can help them identify some sites that may work for them, we can facilitate discussion with those property owners.” Ultimately, PSE&G would pay for the relocation, new property and associated costs.

Three years ago, Tesla Redevelopment originally proposed about 172 units on five lots occupying about half the block surrounded by Clarkson Place, Essex, Monroe and Bridge streets.

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