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.
The all-day conference on Thursday will focus on “all the things you need to know to succeed as a downtown investor, retailer, community leader, or manager in this uncertain economy.”
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Remember the movie that filmed some scenes in Rahway earlier this year? Bruce Springsteen reportedly wrote a song for it and “The Wrestler” won the Venice Film Festival. It’s scheduled for release in December.
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Hey … have you heard anything lately about The Savoy? Word on the street is the project is now delayed until late 2009 / early 2010.
I heard that the steel for the project was being purchased via a securitized loan through Lehman Brothers which was insured by AIG and the broker at AIG was too busy moving into his Skyview apartment to file the paperwork and since both companies are toast… well, yeah, 2009 might be optimistic. But at least the streets are clean.
Based on the current pace of the construction in downtown Rahway, I would say 2010 is optimistic.They seem to be pretty good at starting construction on these projects, but they really are dragging their feet.
Skyview hasn’t closed an apt in almost 2 months and only 15 of the 220 have closed. Feel bad for the people who bought into that place.
Re: SkyviewYeah I’m hoping things pick up for them, and that more people start moving in there. It will happen sooner or later, but it’s just about the worst time for all that new housing to come onto the market, while everyone is freaked out about the economy and the credit crunch and just holding their breath.