Wednesday, April 12, 2006

760 Condos Planned for E. Orange & Bloomfield

From the Star Ledger:

Big condo project for GE factory site

Plans to create a 760-unit condominium development, on the former General Electric industrial site that straddles the East Orange and Bloomfield borders off the Garden State Parkway, will be the subject of an East Orange zoning board meeting this evening.

Prism Capital Partners, the applicant behind the huge Parkway Lofts housing community planned on a 20-acre site that shares the dual addresses of 545 North Arlington Ave. in East Orange and 5 Lawrence St. in Bloomfield, is one of eight cases being heard.
...

"The applicant is proposing to convert the existing (six story, brick) structure to a loft condominium development of approximately 340 residential units," according to this evening's agenda. "The balance of the site will be demolished and configured into a total of 760 residential units."
...
The plan calls for a six-story main building, featuring one-, two- and three-bedroom residences, including five penthouse units; 12 garden apartment buildings; one cluster of 16 townhouses; a second cluster of 10 townhouses; and a combined total of 1,160 underground parking spaces
...
Right now, the access roads are North Arlington Avenue, a residential East Orange thoroughfare that cuts through tree-lined neighborhoods filled with large houses and lawns, and Bloomfield's Lawrence Street and parallel Arch Street.

Caveat Emptor!
Grim

10 Comments:

Blogger bairen said...

It has always been a dream of mine to own a townhouse on a former industrial site near one of the more heavily travelled sections of the Garden State Parkway.

If I was a homeowner, especially if I owned a condo or townhouse in one of those towns I would be fighting this. 760 more units will (at least should) dilute the housing stock and have a negative impact on my property values. Bring in even more congestion. And most likely increase my property taxes due to the increase demand in services. The towns will need more emergency services, possibly more schools, more stress on the sanitation dept as well as increased demand for water and sewage.

The new development will bring in more property taxes, but probably not enough to cover the increase in needed services IMHO.

4/12/2006 07:51:00 AM  
Blogger Richie said...

East Orange; a wonderful place to live.

4/12/2006 08:10:00 AM  
Blogger grim said...

Here is another piece on East Orange from the Ledger.

E. Orange leader sees lean times ahead

The doom and gloom surround ing New Jersey's projected $5 billion budget gap yesterday led East Orange officials to prepare for the worst possible state aid scenario this summer.

"The days of a lot of wish-list items are probably over," Mayor Robert Bowser told department heads, police and fire department superiors, the city's accountants, East Orange Superintendent of Schools Laval Wilson and state Assemblywoman Sheila Oliver (D- Essex).

"The days of belt-tightening are over," said Bowser, who repeatedly urged everyone to brace for the financial unknown. "Today, we need belt-tightening, suspenders and a few other things."
...
The facts are that hard times are ahead for East Orange, especially regarding rising insurance, pension and public safety costs, according to the city's contracting auditor, Dieter Lerch of Lerch, Vinci and Higgins of Fair Lawn.


grim

4/12/2006 08:17:00 AM  
Blogger delford said...

EO and Bloomfield, two less then desireable places, and these things are going to be built, as the bubble is popping.

The developer will get hosed, and most of them will end up being apartment rentals.

4/12/2006 09:14:00 AM  
Anonymous Anonymous said...

If you are going to own a condo, then head for the Gold Coast where you can easily get rid of it. I don't understand the condo in the burbs movement.

Condo living is a lifesytle and should not be confused with suburban living.

Thoughts to Ponder!

4/12/2006 03:09:00 PM  
Blogger bubble disciple said...

I'll bet the homeowners are trying to fight this, but the developers probably have the money/connections to ram this through.

4/12/2006 03:29:00 PM  
Anonymous Anonymous said...

E. Orange is not suburban and what the hell are they thinking. If you said bloomfield I'd say eh maybe alright, but moving people into E. Orange is nuts I am all for redevelopment of industrial sites but this developer is less than swift.

4/13/2006 01:21:00 PM  
Blogger Carnival said...

Hi, I was surfing the internet and here I am at your blog. I'm quite impressed , with how you have put it all together.

I'll be coming back again.

Cheers,

orlando condo

4/15/2006 11:30:00 AM  
Anonymous Anonymous said...

Very nice! I found a place where you can
make some nice extra cash secret shopping. Just go to the site below
and put in your zip to see what's available in your area.
I made over $900 last month having fun!
make extra money

4/20/2006 05:52:00 AM  
Anonymous Rick J said...

I have been following a site now for almost 2 years and I have found it to be both reliable and profitable. They post daily and their stock trades have been beating
the indexes easily.

Take a look at Wallstreetwinnersonline.com

RickJ

5/18/2006 05:25:00 PM  

Post a Comment

<< Home