Two downtown developments of more than 300 units recently secured refinancing.
Tag Archives: Sterling Properties
Council extends PILOT for Metro Rahway
City Council extended a Payment In Lieu Of Taxes (PILOT) from 15 to 30 years for Metro Rahway, a 116-unit building on Campbell Street.
A third of units at REVA Rahway leased
A third of the units have leased at a new five-story building in downtown Rahway that opened in mid-December.
Reva expected to be completed by year end
Reva Rahway, a 219-unit project at the site of the former Center Circle sports complex on Main Street, is anticipated to be completed by the end of December.
Reva Rahway tops out
A $55-million development at the site of the former Center Circle facility on Main Street topped out at its planned five stories earlier this month.
Reva breaks ground at former Center Circle
Construction began last week on Reva Rahway, a five-story, 219-unit development, just months after demolition of the former Center Circle on Main Street.
Demolition under way at Center Circle site
Demolition of the athletic bubbles at the former Center Circle on Main Street is under way as part of site preparation for a 219-unit rental apartment development.
30-year PILOT for Center Circle development
A 219-unit development approved for the former Center Circle site on Main Street would pay at least $500,000 in the first year of a proposed 30-year Payment In Lieu Of Taxes (PILOT) arrangement, with payments in the final year approaching $1 million.
Continue reading 30-year PILOT for Center Circle development