Presented with an update on Meridia Lafayette Village, Redevelopment Agency commissioners discussed pros and cons of the new design during their meeting this month, ultimately asking that the developer tone down the stark white on parts of the facade.
Continue reading Commissioners debate Lafayette Village facade
The proposed 115-unit Lafayette Village project at the corner of Main and Monroe streets (map) is expected to begin construction in 2014 after finally getting necessary state permits and other approvals in recent months.
Meridia Water’s Edge, a 108-unit rental complex that broke ground last year behind the library and Center Circle facility, is expected to be completed in the coming weeks.
Having reached its apex earlier this spring, construction at the five-story Meridia Water’s Edge continues, shaping the 108-unit project adjacent to the Center Circle and Rahway Public Library.
The building will include 52 two-bedroom units, 38 one-bedrooms with an office and 18 one-bedroom units. Units will range from 672 square feet to 850 square feet, with rents of $1,400 to $1,550. The ground floor will include 87 parking spaces, with another 22 spaces to be created within the adjacent library lot.
Capodagli Property Co., now based in West New York, acquired the three-quarter acre site from the Redevelopment Agency for $1 million in January 2012 but was credited for the expense of removing soil from the property (which was estimated to cost about $160,000. The City Council approved a 10-year Payment In Lieu Of Taxes (PILOT) financial agreement in March 2012. The agreement will begin with a $216,000 payment in the first year and rise in future years based on gross revenue, with an tax break estimated at $170,000 annually.
The City Council unanimously approved vacating a portion of Dock Street that will allow the developer to redesign portions of Meridia Lafayette Village.
Continue reading Council approves vacating 13 feet of Dock Street
As negotiations over acquisition of the former Wheatena property slow down, the Redevelopment Agency is waiting but keeping its options — including condemnation — open.
Meridia Lafayette Village will push 13 feet further into Dock Street than originally planned, allowing the developer to open up some of the units — if the City Council gives its approval.
Continue reading Lafayette Village to expand onto Dock Street