Jersey Journal: Big plans for midtown Bayonne
Big plans for midtown Bayonne
Thursday, May 29, 2008
By RONALD LEIR
JOURNAL STAFF WRITER
N ew apartments, upgraded retail space, a parking garage, and a public plaza will be the ingredients of a redeveloped central business district for Bayonne.
That's the expectation of city officials following the City Council's vote last month to designate Bayonne Developers Associates LLC, a joint venture of KOR and Time Equities, as conditional redeveloper of the Broadway Corridor Redevelopment Area. The six-acre tract, which includes 17 privately owned parcels, two public housing sites and municipal parking lots, is bordered generally by 19th and 21st streets and Broadway and Avenue E. Officials say public housing tenants would be untouched by the proposed redevelopment. The site is near the 22nd Street Hudson-Bergen Light Rail station off Avenue E.
A city screening committee recommended KOR/Time Equities over proposals submitted by a group headed by the Alessi Corp. of Bayonne and by P&F Management Co., of Hillside.
Michael O'Connor, executive director of the Bayonne Economic Development Corp., said the joint venture's "demonstrated ability to see long-term projects through to completion, their financial resources, and their vision for the Bayonne Town Center" gave them an edge.
KOR/Time Equities is a player in Downtown Jersey City. The companies recently put up "Montgomery Greene," a 19-story, 113-unit luxury residential condominium tower with a 124-space valet garage in Exchange Place which, according to KOR president Harry Kantor, is "95 percent occupied."
"We were attracted to the assets Bayonne has, in terms of quality of life, and we think Bayonne could be well-served by what we're bringing to the table," Kantor said. "Our intention is to reinvigorate the Broadway Corridor and to leverage access to Turnpike and rail travel."
The city's conceptual plan for the Corridor calls for a "mixed-use transit village" with "upwards of 500 new and/or improved residential units, 100,000 square feet of commercial space, structured parking, and a public amenity of 5,000 to 10,000 square feet," said City Planner John Fussa.
"We don't anticipate using eminent domain," O'Connor said. "We won't push anyone out. We can work with property owners to provide opportunities to find renewed value in their land."
Fussa said the city envisions a mix of low-and mid-rise residential buildings "and perhaps one building of 10 to 12 stories, but height will be secondary to density for this project."
A combination of "loft residential, condominium, or apartment flats" would be permitted, he added.
