Tag Archives: Parking Authority

Uncategorized

Temporary parking until deck is built

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The Redevelopment Agency last week approved a memo of understanding with the Parking Authority and Dornoch to create temporary surface parking at the future site of The Westbury.

Dornoch and the Parking Authority will swap some parcels to create temporary surface parking that will be leased to the Parking Authority. “Temporary” essentially means until a parking deck is constructed, which could be several years.

City Administrator and Redevelopment Director Peter Pelissier estimated about 100 more spaces could fit on the property, in addition to the existing 80 or so existing spaces near Lot B. The move will allow some motorists who lease spaces from the Parking Authority at St. Mary’s on Central Avenue to move closer to downtown, he said. Leasing the temporary surface parking would provide Dornoch some cash flow as it builds The Savoy across the street (where there has been virtually no activity in a year) and pays some $30,000 in property taxes on The Westbury site alone.

The resolution and memo of understanding is meant to convince Dornoch’s investors, a hedge fund based in Holland, that The Westbury is a reality and provide them with a level of comfort to secure additional investments and financing for The Savoy. Should investors not be comfortable with prospects for The Westbury, they don’t believe they would get enough return on The Savoy alone, Pelissier said. “They’ve invested a lot,” he added and would be more comfortable knowing the Redevelopment Agency won’t back out of The Westbury project.

Also referred to as Dornoch II, The Westbury originally was envisioned as a 140-unit development along Main Street behind the East Cherry Street storefronts. The project also included 20,700 square feet of commercial office space and 19,2000 square feet of retail, with an adjacent 350-space parking deck.

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Downtown, Parking

Downtown parking options, recommendations

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A four-story, 507-space parking deck, estimated to cost $10.3 million, will be the option pursued for Lot B. It will be a while, however, until it’s built.

Continue reading Downtown parking options, recommendations →

Apartments, Parking

Downtown parking assessment

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I forked over $17.50 to the Parking Authority for a copy of the 45-page final downtown parking assessment by Blue Bell, Pa.-based Tim Haahs and Associates, commissioned last year. I finally got to reviewing it and will present it in two posts: parking needs followed by recommendations tomorrow.

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City Council

Meters to return along Irving and Main

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Parking meters will return to the downtown area this summer.

Two-hour metered parking will stretch from East Milton to Central Avenue along Main Street while one-hour metered parking will be on Irving Street. The cost will be 50 cents an hour, purchased in half-hour intervals.

Some will replace meters that were taken out when the change to two-way traffic downtown was made last summer and some will replace meters taken off the streets about 15 years ago. Approval has been received from the County of Union and the Rahway Police Department’s Traffic Bureau to replace them, Parking Authority Executive Director Donald Andersen told the City Council last week.

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Uncategorized

Settlement discussions with Carriage City

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City officials are in discussions with Carriage City Properties to resolve their dispute over payments related to Sky View at Carriage City Plaza. The Redevelopment Agency claims almost a half-million dollars is owed by Carriage City while the developer has threatened bankruptcy.

Declared in default of their agreements last month by the Parking Authority and Redevelopment Agency, Carriage City Properties had about 30 days, until April 8, to rectify the situation or they could be taken to court. Redevelopment Agency attorney Frank Regan said after Tuesday’s City Council meeting that any litigation is essentially on hold as they discuss a resolution.

According to written correspondence between the two sides, the Redevelopment Agency is claiming Carriage City Properties has not paid fees of about $458,000 related to at least 11 condo sales ($74,250), reimbursement for professional costs ($15,351), and a “reasonable contribution” toward the cost of intersection improvements at East Milton Avenue and Irving Street ($368,562).

Carriage City has paid the agency $323,000 to date but has not received closing-related fees since December. Payments on the 11 units ($74,250) would push them over the deferred $331,194 threshold set last summer and revert to the full $11,750 fee per unit owed the agency upon each closing. About 58 units have closed and appeared in tax records while the agency claims that fees have been paid for only 47 units.

According to that same letter, Carriage City has expressed concerns about the Redevelopment Agency’s financial ability, requested the agency’s audits for the past three years, and has “repeatedly stated in meetings with city and agency officials that it cannot meet its financial obligations and may lose the hotel flag and have to file for bankruptcy,” Regan wrote.

Representatives of Carriage City Properties/Silcon have not returned my email messages in months, but in this report last week its president of real estate suggested an unspecified change in the redevelopment agreement proposed by the city last year. He also claimed city officials turned down an offer to meet late last month to resolve the situation and that they have more in escrow than what the city claims it’s owed, according to the report.

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Downtown, Parking, Rahway

No go on parking deck expansion

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Good news for some Sky View residents: They get to keep their view. The Parking Authority passed on the idea of adding two levels to the existing parking deck at Lewis and Main streets.

Executive Director Donald Andersen said commissioners had concerns about the cost effectiveness and shutting down a large portion of the garage during construction, as well as possibly Main and Lewis streets. Construction probably would have last four to five months in either case and two levels of the garage would be closed.

Adding one level would have cost $2.6 million and created another 85 spaces ($31,000 per) while two levels would have cost $4.8 million and added 170 spaces ($29,000 per). The existing six-story parking deck, which opened four years ago with 524 spaces, cost $11 million (which works out to about $21,000/space).

Commissioners discussed the “Vertical Expansion Feasibility Draft Report,” prepared by Tim Haahs & Associates of Blue Bell, Pa., at their November meeting.

Andersen said the parking study commissioned last summer will hopefully be completed by the end of March.

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Downtown, library

State of the City 2009

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Though I was unable to attend Monday’s City Council meeting, I did get a copy of Mayor James Kennedy’s State of the City address. The mayor is among a long list of officials looking for help from the feds.

“I retain optimism that this slowdown will only be temporary and the incoming administration of President-Elect Obama will provide long-overdue federal funds to invest in our roads, sewers, parks and other vital elements of our infrastructure,” Kennedy said. “Unlike other municipalities, Rahway has many projects that are already approved by the authorizing boards and agencies. Our improvements and investments will enhance our redevelopment opportunities. So that the ‘shovels can hit the ground’ as soon as the economy rebounds and our continuing redevelopment efforts will restart in a period of months instead of years,” he said.

Among the projects Kennedy cited as “ready to begin” are the 88-unit Renaissance at Rahway and 116-unit Station Place. The Savoy, he said, will “restart construction when additional financing is obtained.” (Photo at left)

As for other redevelopment-related highlights in his remarks, the mayor reviewed the various ongoing projects that you’ve read about here before:

— New ratables increased the tax base by $30 million for the nine-month period in 2008. A full year on the books is expected to create $42 million in 2009. A little perspective: ratables increased by about $30,000,000; the city’s total valuation is about $1,500,000,000 ($1.5 billion). The added ratables — mainly attributed to Carriage City Plaza, Luciano’s and Riverwalk — generated about $900,000 in additional tax revenues for the city.

— In addition to the planned 1,000-seat amphitheater at the former Hamilton Laundry site, and development of the former Bell Telephone building into a performing arts space and black box theatre, the former Elizabethtown Gas building is expected to be purchased and house a “first-rate art school as well as a co-op gallery venue.”

— “The 40,000 square feet of condominium space above the library was sold last year, and will be converted into office space sometime this year.” The library opened in 2004 with the idea of eventually selling the top two floors for office space. No word on whether the sale netted the $3.5 million that was expected at the time to help offset the cost of the $7.4-million facility. [UPDATE: SDI Technologies already paid $3.2 million to the city for this project, according to City Administrator Peter Pelissier.]

— The city is “exploring a partnership with the Parking Authority to construct a 300- to 500-space parking deck on Lot B, to complement the proposed Westbury housing/retail development next door.” We wrote about this study in August but there was never any mention of the number of spaces. Originally, The Westbury was planned with a five-story, 324-space parking facility.

For some historical perspective, there are a few paragraphs about the mayor’s 2005 State of the City address here.

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Condos, Downtown

The Savoy at a standstill

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Just a few months after steel began to rise at The Savoy, the developer that’s heading up several projects in the city has apparently run into unspecified “economic difficulties.”

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