Hovnanian To Build 97 Hackensack Homes
From The Herald/Record:
Hackensack OKs town houses
By MONSY ALVARADO
Hackensack OKs town houses
By MONSY ALVARADO
97-unit town house development will be built along River Street on property that's been used by All American Ford car dealership.
The project calls for the one-story building on the property to be razed to make room for 18 residential buildings. Those will consist of two-bedroom town houses with parking garages. The development also will have a clubhouse with a swimming pool.
...
"Added ratables are always welcomed," Schatz said. "If only all applications could be approved so quickly.''
The application by M&M Investments of Hazlet, a K. Hovnanian company, was sent to the city's construction office in February. A hearing was scheduled in April but was postponed until May 10.
...
The developer was seeking site-plan approval and exceptions to zoning rules to build the project on the 7.38-acre property. The site fronts River and East Berry streets. The Hackensack River runs along the north and east side. Foschini Memorial Park borders the land on the southeast.
...
According to paperwork submitted to the construction office, the Riverview Townhouses development will consist of 36 units with 1,986 square feet and 61 units that will be 2,348 square feet.
12 Comments:
HOV can't be serious. These things will never sell. Oh well, more inventory build up. What else is new? If one is currently trying to sell their house in NNJ or selling before you ARM loan adjusts, you are about to get a slap in the face.
Its going to be a long summer in the RE market.
Buckle up...
I'm wondering if these will be marketed under the "Matzel and Mumford" brand.
grim
Is River Street anywhere near the Sears that is in Hackensack?
Because the area near the Sears is not that good. Wouldn't believe it was Bergen County. I use to trasfer buses at that corner. It was pretty shady at night. Thought I was back in Newark...or east orange....
If I had the money to buy a condo (which, I do not. I make 60,000/yr and I can't even buy a used car in NNJ) I would look in another area, maybe Paramus or Ft. Lee. Hackensack is just not that attractive. Unless you like liquor stores, play alot of lotto, and hang out in the street and do nothing all day.
I lived in Hackensack for three years. They don't have a clue regarding urban planning and economic development. It's such a contrast from the other small cities that have had a great revival: Englewood, New Brunswick, etc.
"I'm wondering if these will be marketed under the "Matzel and Mumford" brand."
Grim, I bet you it will be since these guys have a reputation in NNJ. Its a name, more so than Hovanian. But they are the same company these days.
http://www.khov.com
I didn't realize how much these guys have built in the area.
While we are on th esubject of homes that will never sell, here is one in Florham Park:
MLS ID#: 2264881
This house was a FSBO for 2.95 million two years ago and did not sell on the pretigious (read BUSY) Brooklake Road. In late 2004, they called a realtor who told them to list it at 3.95 million so they would have room to negotiate down. No one came close and almost no one looked. The listing expired after 6 months and they listed with a new broker for the same $3.95 mil and that guy actually got them to cut their price to $3.85 mill, a whole $100K. Needless to say the house still didnt sell. Now we come to 2006 and they have a 3rd broker on the house and a new asking price of $3.75 mil.
The house is worth $2 million, thats it folks, I live in the town and its not worth the crazy numbers the owner had put in his head.
Another chaser of the market. By the way Grim, I enjoy the reading but first time poster.
J.S.R.
You get front row seats to the Mexican Volley Ball League in Foschini Park.
Hats off to Mr. Zou..
grim
http://www.BoycottHousing.com
Some real bargins:
http://BoycottHousing.com/previous.htm
That article is a perfect article for the economy discussion: Why China's democratic efforts are paying off and going to save the US economy over the next four years.
That, and recent articles about the Chinese consumer's irrational demand for Chevys, Pontiacs and other god-awful Western products.
I wish I owned a self-storage business in China right now.
Pat
skeptic-
thankyou for posting the article on China and Zou Tao.
I read an article, published at the end of April, where Zou had more or less "disappeared" at that time.
But it's interesting to note that by mid May the Chinese govt. had tightened lending in an effort to coold down the RE market.
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