Tuesday, July 18, 2006

Development Watch

High Bridge housing plan will proceed after ruling

After two stinging setbacks in major lawsuits, High Bridge officials have decided not to appeal an affordable housing ruling that cleared the way for a long-proposed 170-unit development.

In separate rulings last month, an appellate court upheld the state Council on Affordable Housing's handling of the case, and rejected a borough effort to send it back to the zoning board.

Plainfield senior condos planned

Bingo on the first floor, a two- bedroom on the second.

Plans for a new Plainfield Senior Citizens Center call for 63 condominium units to be built above it, which would also be marketed to seniors. The project would free the city from spending anything on construction costs and would generate about $400,000 a year in taxes.
Green said he was pleased that the condominiums would bring in about $400,000 in taxes each year and would not require the city to give the developer tax breaks. The condominiums, Green added, will not be low-income housing but something seniors "can look for ward to purchasing." Because of federal and state budgetary constraints, Plainfield can no longer look for federal or state dollars, he added.

Benefits for luxury townhome buyers to include swim pools

Under a redeveloper agreement it's signing with the BLRA, Trammel Crow has agreed to pay the BLRA $18.4 million for the rights to build 530 "luxury rental" apartments on the two westernmost blocks of the Bayonne Bay tract comprising 7.42 acres. Trammel Crow is providing a deposit of $11.3 million now and will pay the rest by June 1, 2007.

Trammel Crow's would-be partner for developing Bayonne Bay - D.R. Horton - backed out at the 11th hour and the BLRA hopes to find a replacement, by Aug. 1, to build the balance of the approximately 1,700 apartments projected in the Bayonne Bay master plan. BLRA officials predict the 32 acres of developable property within Bayonne Bay will, ultimately, be sold for more than $100 million.

Mannington Twp. officials warn of housing boom

The possibility of more than 5,000 new homes coming to this rural farming township is not out of the question if current zoning rules aren't amended, officials here have been told.

If current zoning standards remain in place, that number could even increase to more than 6,000 new homes and more than 10,000 new residents, according to township planners Philip Caton and Linda Weber.


Anonymous Anonymous said...

plainfield and bayonne, two
more wonderful, life style,NJ
cities to live.

7/18/2006 05:48:00 AM  
Blogger grim said...

NY Times leaving Jersey.

From Reuters:

New York Times to cut paper size, close plant

The New York Times Co. plans to make the size of its flagship newspaper narrower and close a printing plant, resulting in the elimination of 1,050 jobs, the company said in a story posted on its Web site late on Monday.

The changes, set to take place in April 2008, include the closure of a printing plant in Edison, N.J. The company will sublet the plant and and the consolidate its regional printing facilities a plant in Queens, resulting in the loss of 800 jobs, the paper said.

7/18/2006 06:44:00 AM  
Anonymous Anonymous said...

Sign of the Times.

Queens over NJ. HUMMMM.

Plus revenues are going away faster
than they can stop it.

7/18/2006 07:31:00 AM  
Anonymous Anonymous said...


Take a look at National City Bank.

Profits tumbles on Mortgage Losses.


It begins the banks are going to
begin writing off bad loans.

7/18/2006 07:33:00 AM  

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