Tag Archives: Main Street

The top 10 Rahway Rising posts of 2013

There are two things that people will remember about 2013 (at least according to traffic on this site): the hotel closing and the mayor resigning. If you look at the Google Analytics for 2013, the graph has a steady pace until September when it shoots up like a rocket and then comes back to Earth. Of course, there were other things that occurred in 2013, like construction under way on the 116-unit Metro Rahway and pending completion of another project, the 108-unit Meridia Water’s Edge.

Continue reading The top 10 Rahway Rising posts of 2013

Easement granted for Lafayette Village

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.

Continue reading Easement granted for Lafayette Village

Park Square tax appeal settlement

Park Square, the 159-unit rental complex downtown that was purchased last month, reached a tax appeal settlement with the city in October, which reduced its assessment by more than a third.

Continue reading Park Square tax appeal settlement

Mack-Cali acquires Park Square for $46.5M

Seven years after breaking ground on its first phase, Park Square has been acquired for $46.5 million.

Continue reading Mack-Cali acquires Park Square for $46.5M

Water’s Edge to begin leasing by December

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.

Continue reading Water’s Edge to begin leasing by December

Proposal would put 250 units on Center Circle site

Three, five-story buildings containing almost 250 rental apartments would replace The Center Circle and reconfigure parking and access around City Hall Plaza, according to a concept plan presented to the Redevelopment Agency last week.

Continue reading Proposal would put 250 units on Center Circle site

Meridia Water’s Edge coming along

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.

Timeline tweaked for Lafayette Village project

Developers have an additional six months to get government approvals for Meridia Lafayette Village and the timeline to begin construction on the 115-unit rental development has been changed to six months after approvals are received.

Continue reading Timeline tweaked for Lafayette Village project