From the Star Ledger:
$170M Bayfront plan given final OK by Jersey City council
A $170 million plan that city officials say will give them more control over the redevelopment of a formerly contaminated swath of waterfront land cleared a major hurdle on Wednesday when the City Council gave the plan its approval.
The council voted 7-2 to authorize the city to borrow $170 million, enter into an agreement with the autonomous Jersey City Redevelopment Agency to partner on the project and approve of the city’s plan to purchase some of the land from Honeywell. The site is known as Bayfront.
The city’s plan is the latest for the property, a formerly contaminated 100-acre site that sits west of Route 440 and is owned by the city and Honeywell. The city intends to buy Honeywell’s portion, pay for infrastructure improvements and slowly sell portions of it to real-estate developers to pay off the debt.
The final vote was not a surprising one, with the six allies of Mayor Steve Fulop — Rolando Lavarro, Joyce Watterman, Daniel Rivera, Denise Ridley, Mira Prinz-Arey and Jermaine Robinson — joining James Solomon in favor. Council members Rich Boggiano and Michael Yun voted no.
…
Boggiano cited fears that the city would botch the project, citing the 11 years it took the city to build a police station in the west district.“Mark my words, I will be right. This will be a fiasco with the City of Jersey City running it,” he said.
Yun expressed concern about the amount of borrowing. This year’s budget shows the city has $574 million in outstanding bonds, up from $499 million in 2015. In that time, the city’s net debt per capita has decreased from $1,947 to $1,596.
The initial plan for Bayfront was for Honeywell to sell the property once it was remediated of chromium. That sale is expected to occur later this year.
In May, Fulop announced this new plan, which he said would allow the city to dramatically increase the share of affordable housing at Bayfront, which could have as many as 8,000 residential units. Fulop said by doling out the parcels in pieces and acting as a “master developer,” the city could push for a share of affordable housing as high as 35 percent. The old plan had the one-site share at 5 percent.
Hand the whole property to Lefrak. They know how to get things done.
Suspect they are more interested in running it like an Eastern European communist housing bloc. Привет, товарищ
Maybe JC government can do this Bayfront plan. The best use is residential and apartment developers I know tell me JC is the best organized municipality in the state for getting apartment projects completed.. JC has done it many times before, have the bureaucratic infrastructure in place, and possess the political will to fend off NIMBYs.
Much easier to get a big project done in JC than suburbs. That is one reason why JC is thriving while burbs are flailing.
Just think of the number of P.I.L.O.T.’s and other tax abatements… dream come true.
cinco de comment!
Are you a realtor or something? The hard-on you have for Hudson is so weird…..
Yo! says:
October 12, 2018 at 7:36 am
Maybe JC government can do this Bayfront plan. The best use is residential and apartment developers I know tell me JC is the best organized municipality in the state for getting apartment projects completed.. JC has done it many times before, have the bureaucratic infrastructure in place, and possess the political will to fend off NIMBYs.
Much easier to get a big project done in JC than suburbs. That is one reason why JC is thriving while burbs are flailing.
This guy is laughing all the way to the bank, while acting as if he is a victim…… appalling…. but completely predictable…. he doesn’t even need football anymore… he’s set for life….
https://nypost.com/2018/10/12/colin-kaepernick-receives-prestigious-black-history-award-at-harvard/
Beyond Advisors should probably offer Kaepernick a sales job.
440 is home of one of the largest chromium dumps in the world. We used to go shopping at Two Guys and Great Eastern and go to the movie theater and the 440 mall. You guys don’t remember that stuff, only us guys that actually grew up there. ;)
Btw, I don’t want to see Eli go out this way. He’ll always be a champion and he is going to be missed when he’s gone but I wish he’d go out on a winning streak.
Fast Eddie says:
October 12, 2018 at 9:55 am
Btw, I don’t want to see Eli go out this way. He’ll always be a champion and he is going to be missed when he’s gone but I wish he’d go out on a winning streak.
Pffffttt!
Hudson County, large real estate developers, and building permits…
chicagofinance says:
October 12, 2018 at 8:39 am
Are you a realtor or something? The hard-on you have for Hudson is so weird…..
1987 Condo says:
October 10, 2018 at 1:54 pm
Kooky Kanadians:
America’s winning because of the ‘Trudeau effect,’ says Canadian professor ”
One of the dystopian scenarios I have running in the cerebral background is a situation where the US veers hard left under a President Warren. It also results in a deeper schism between DC and the flyover states. Much sturm und drang.
Canadians sense that there’s money to be made and goes hard right, lowers taxes, restructures healthcare, changes its immigration policy and rolls out the welcome mat to multinationals and HNWIs. Cash flows northward and suddenly its chic to be Canadian.
The mannings made an art of out leveraging their goodwill among the fan base to rob 40-50 million from their respective teams by playing well beyond their usefulness. Kudos to them but a lesser liked player would have been cut loose 2 years ago. There’s a life lesson in that for anyone paying attention.
Eddie,
Any minute now, I expect that toxic, selfish, sh1t-for-brains, ODB to blame this dismal season on Eli. Perhaps, if their highest paid receiver in the NFL would take a little less money, they could sure up the O-line and give their multi-super bowl championship caliber some time to work. Heck, they have an amazing RB now, an excellent downfield option in Shepard and the self-proclaimed greatest player of all time in the offensive secondary. If I was Mara, I would immediately trade his toxic ass for a couple of big linemen that Saquon could run through and get Big Blue back into winning some games. I’m a Jet fan and I would trade my team for yours in a second. But being Jet fan, I also know how much a selfish loudmouth ruins team chemistry. I wish ODB got his head knocked off. What a waste of incredible talent.
Odell Beckham Jr
Oct 5
I give it my all everyday n that won’t ever stop, GIANTSSS we gon get this thing done togetherrr. Beeeluhdatt #OwnOctober
LOOK AT ME! LOOK AT ME!
Lib and MAGA,
Not much to disagree with. Barkley is amazing. Yeah, I think after this year, we give a nice retirement party to one of the greatest to wear blue and get an offensive line like the Cowboys have and let the guy run loose. OBJ is just a f.ucking head case.
Both teams suck but I would take a likely franchise qb over a guaranteed franchise rb. Rbs are far more fungible.
huh? No way…… they have a QB, safeties, and a good 3-4 defensive line….. the Jets are a pass rusher who is a linebacker, and maybe two offensive lineman away from being really solid.
Libturd…look me up in Costa Rica says:
October 12, 2018 at 10:22 am
Eddie,
I’m a Jet fan and I would trade my team for yours in a second.
As a wise man once said:
The Original NJ ExPat says:
March 27, 2018 at 9:53 am
Never trust the morning rallies.
As a Giants fan, I can’t stand ODB. Aside from the drama, he’s failed to make big plays when it really matters. Moreover, he has botched some easy plays in the crunch. The worst part is, the teenagers today all swear he’s better than Jerry Rice was.
I thought Old Dirty B@stard wasn’t around anymore?
“Never trust the morning rallies.”
Still a good sign that the bottom is probably near.
I need to get a passport, have a substantial beard and long hair. I figure I put the hair in a pony tail, but what about the beard. Better to have a bearded passport photo and present to other countries possibly clean shaven, or the other way around?
Just don’t go to Muslim countries with an Israeli stamp…. get second passport….
The Original NJ ExPat says:
October 12, 2018 at 1:04 pm
I need to get a passport, have a substantial beard and long hair. I figure I put the hair in a pony tail, but what about the beard. Better to have a bearded passport photo and present to other countries possibly clean shaven, or the other way around?
I still laugh at when Kaep wore a Castro shirt and praised him for his investment in education. He looks at a stupid measure per gdp as opposed total investment. We spend a full order of magnitude more and get better results.
This whole bayfront plan reeks. Fulop is a criminal who belongs behind bars. He intends to sell favors to developers in exchange for a shot a governor. When Fulop became mayor my father who had some Hudson county development deals going basically said the old school Hudson county criminals were small time compared to Fulop. That Fulop hung a for sale sign on the city and was operating like someone out of the show boardwalk empire.
Stuff gets built in Jersey City because the government clears the field. Staying out of the way isn’t getting things done. In my condo in Jersey City a good portion of the plumbing and electrical should not have passed an inspection, you can pretty much assume local officials looked the other way.
Fulop is Kushner’s boy wonder, nobody seems to really know this………
Oh how the rich operate.
““Never trust the morning rallies.””
Except for this one!
https://www.bloomberg.com/news/articles/2018-10-10/want-a-21-000-pay-raise-hsbc-recommends-you-move-overseas?cmpid=socialflow-facebook-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=facebook&utm_medium=social
“Still a good sign that the bottom is probably near.”
Would have been happier if we had a third down day. That would have sounded the all clear. This…just clouds things up. Especially since we rallied to close exactly at the prior 200 SMA……..Fcuking BAC, who the hell report before market on a Monday, ever? Going to be ripsh1t if I get screwed over the weekend….
“Just don’t go to Muslim countries with an Israeli stamp…. get second passport….”
Jordan and Cuba (pre-Obama opening) would actually ask you if you preferred not to have your passport stamped when entering….
New Jersey has an extension for REAL ID enforcement, allowing Federal agencies to accept driver’s licenses and identification cards from New Jersey at Federal facilities, nuclear power plants and federally regulated commercial aircraft until October 10, 2019.