| *****
Save the Date! June 9, 2006 *****
Transit Village Symposium at Rutgers University
The New Jersey Department of Transportation
and the Alan
M. Voorhees Transportation Center (VTC) at Rutgers
University will hold a symposium on June 9, 2006 to
discuss the status of transit-oriented development in
New Jersey. The event will be held from 9:00 am until
12:30 pm at Rutgers
University's Edward J. Bloustein School of Planning
and Public Policy at 33 Livingston Avenue in New
Brunswick.
The symposium will include distinguished
speakers from NJ
TRANSIT, the New
Jersey Department of Transportation and VTC. NJ
TRANSIT Executive Director George Warrington and DOT
Commissioner Kris Kolluri will be featured speakers.
The event will also include a panel discussion among
experts working in the field of transit-oriented development,
including developers, planners, academics and public
officials. Please RSVP to vtc@policy.rutgers.edu
if you would like to attend the event. Watch for further
details in your email!
Belmar and Netcong
Developers Chosen
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The Borough of Belmar selected
the Gale Company of Florham Park as the Master
Redeveloper for its Seaport Redevelopment Project.
The mixed-use project will include new housing,
retail establishments, restaurants, offices and
structured parking. In addition, the redevelopment
project will reconnect and integrate the Marina
and Inlet areas of the town with the Main Street
corridor. In these waterfront areas, the Borough
plans to construct 54 new boat slips, a miniature
golf course, and several restaurants, as well
as new walkways and public spaces to encourage
pedestrian movement between the Marina and the
downtown area.
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Belmar Redevelopment Rendering
Source: www.belmar.com
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In total,
13 different development sites have been identified,
including the renovation of the central town square,
Pyanoe Plaza. Other plans include significant
streetscape improvements and the construction
of the pedestrian-only “Sunset Bridge”
to link train commuters and shoppers to a planned
hotel near the Marina.
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Proposed Netcong Transit Village Plan
Source: www.rpa.org
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Netcong, the most recently
named Transit Village, has designated Woodmont
Properties of Parisippany to develop a 13-acre
project surrounding the NJ TRANSIT train station.
In a joint venture with Roseland Properties, the
developer will build 201 one- and two-bedroom
units, 13,000 square feet of retail space and
7,000 square feet of office space. The residential
units will range in price from the high $300,000s
to the low $600,000s. The project will also include
a 4,500-square foot community center and provides
for numerous green spaces and parks. The area
is currently used as a parking lot for NJ TRANSIT
commuters on the Montclair-Boonton and Morristown
lines. Much of the planning was facilitated by
NJ TRANSIT’s Transit-Friendly Planning Assistance
Program, which helps municipalities redevelop
land around train station areas. |
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The Regional Plan Association (RPA) was instrumental
in the borough’s community planning process,
holding several outreach meetings with residents
and local business owners. The borough hopes to
break ground in early 2007. |
Riverside Renaissance:
Two Major Projects Announced
| Riverside Township in Burlington
County has recently announced two major projects
in its transit village district. First, the township
has signed a redevelopment agreement with a team
of developers — Kaplan Companies, Keating
Development Companies and Pulte Homes —
to transform the industrial area known as the
“Golden Triangle” into a $200 million
transit-oriented, mixed-use development. The 32-acre
industrial brownfield is anchored by the Keystone
Watchcase Tower, a striking building constructed
in 1908 and listed on the National Register of
Historic Places. The first floor of the seven-story
building, which closed over 50 years ago, will
contain commercial space; 120 two-story lofts
will fill the upper floors. The remainder of the
property will feature 200 condominiums and 66
townhouses facing Rancocas Creek. The site is
located directly opposite the RiverLINE
station.
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Watchcase Tower on Golden Triangle
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The township also agreed to terms with
J.S.
Hovnanian and Sons, who purchased the William F.
Taubel Mills for $2.1 million. Hovnanian cited the location
near the RiverLINE station as a major factor for its
decision to purchase and redevelop the 1.5-acre property.
Hovnanian is demolishing the existing buildings to construct
250 condominiums in two seven-story towers. All eight
businesses operating in the two buildings agreed to
relocate. The turn-of-the-century buildings were named
after a major hosiery manufacturer that occupied the
buildings from 1905 until 1930, when the business went
bankrupt.
Rahway Update: Projects, Projects,
Projects!
Since Rahway
was featured in our first issue,
a lot has been happening in this Transit Village as
it continues toward its redevelopment goals.
Riverwalk
at Rahway is an 86-unit townhouse project on nine
acres along the east side of the Rahway River. It is
a five-minute walk to the NJ TRANSIT train station along
the Northeast Corridor. Three buildings have been completed
with 20 units sold or under contract. The sales agent
for the developer, Diversified
Communities, reported that buyers clearly value
the easy access to the train. Prices currently range
from $400,000 for a 1,455 square foot unit to $550,000
for 2,300 square feet. Diversified has just purchased
an adjacent hotel site along Route 1 & 9 and plans
to extend Riverwalk to include stacked flats at this
location. Part of the site along the Rahway River will
become Riverwalk Park and will feature a restored natural
habitat, a walking/bike path and a boathouse for non-motorized
watercraft.
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Building permits are about to
be issued for a 15-story mixed-use project opposite
the train station, to be known as Carriage
City. The building, being developed by Silicon
Group, will feature 20,000 square feet of
retail and office space, 102 extended-stay hotel
rooms, and 200 one- and two-bedroom residential
condominiums.
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Dornoch Holdings, LLC, of Morristown,
New Jersey, now has three ongoing developments in Rahway
after purchasing $12 million worth of properties in
the Central Business District.
The first is a 36-unit residential
project at Main and Monroe Streets, with 6,000 square
feet of retail space at grade and parking for residents
underground. Construction is expected to begin soon.
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The
second is diagonally across from the train
station featuring 150 residential units, 20,000
square feet of office space, 20,000 square feet
of retail space, and a 324-car parking deck.
The third project is the
redevelopment of the Hamilton Laundry site, near
the Union County Arts Center, into artist lofts
and studio space, a restaurant and comedy club,
plus market-rate housing. Gardens, landscaped
open space and courtyards, and a bridge across
the river are proposed as part of this plan. The
city is currently engaged in asbestos removal
on the site.
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Heartstone Development, LLC,
of East Hanover will soon be building 150 rental
units two blocks west of the train station once
acquisition of properties now on the site is complete.
Heartstone is also the developer of River Place
- a 136-unit market-rate apartment complex on
the corner of Dock and Lewis Streets completed
in 2004, becoming the largest privately-funded
residential housing development to be built in
the Central Business District in 25 years.
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Landmark
Communities, LLC, of Princeton and Keasbey, New
Jersey, is now clearing the site for its $20 million
Park Square project that will feature 159 units of market-rate
rental housing.
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