Plans have been revived for a new residential housing development down Route 70 near the Garden State Parkway exit ramp, FAA News has learned.
Due to extensive wetlands in this area, any potential development of land requires environmental permits from the New Jersey Department of Environmental Protection.
Back in 2017, developer Yehuda Dachs filed an application to the DEP for 51 triplexes (with basement apartments) and 110 townhouses for a total of 263 units. The project was called Bennett Center.
DEP denied this application in 2018.
Mr. Dachs was, at the time, under a contract to purchase the land from developer Menachem Gutfreund. That contract fell through once DEP denied the application.
In all the time since then, the land has sat vacant.
Now however, plans have been revived for development of this land.
Mr. Gutfreund was just granted a Letter of Interpretation from the DEP which indicates the boundaries of freshwater, where no development of any sort will be permitted.
A LOI does not grant approval to conduct any regulated activities. However, it is the first step to making any future development project a reality.
No specific Site Plan application has yet been presented to the Township's land use boards so it is not yet known exactly how many homes will be proposed for development.
In 2022, Mr. Gutfreund paid $173,154.01 in annual property taxes for the 7 lots which are included in this LOI.
In October 2022, Mr. Gutfreund sold 25% tenancy in common interest rights to these 7 lots, as well as an additional lot (2022 taxes were $20,207.12), to Rt 70 Holdings LLC, (of which, Mordechai Sternstein is a partner) for $6,215,700.00.
To join a FAA News WhatsApp Group, click here.
To join the FAA News WhatsApp Status, click here.
No comments:
Post a Comment