We've let special consideration become the norm, and now it's not enough anymore. Developers want SPECIAL special consideration.

Monaco Towers was planned for the parking on the north side of the hotel. When they broke ground last spring, the pilings were nailed literally into the pavement of the parking. They have since been removed. The San Remo is planned for the south side of the same lot. While the lots are not "vacant," parking lots are a poor substitute for buildings in terms of creating an urban environment.

Where is there a vacant lot at Washington & 6th (aka Thomas Gangemi Drive)?

SW corner: Double Tree
NW corner: new hotel under construction
NE corner: office tower w/ light up diagonal stripe
SE corner: Avalon Cove

Was this the Pep Boys site project?

Quote:

Oh no, not a vacant lot! What ever will the city do with a vacant lot... other than find another developer.

I would like to see the city call their bluff too.

I'd like to see them call the developer's bluff.

Developer: Project 'stalled' by denial of abatement change

Jersey Journal
Friday, January 25, 2008

By a 6-3 margin, the Jersey City City Council shot down a request by a developer Wednesday night to change the terms of a tax abatement it agreed to in November 2006.

Roseland Properties of Short Hills, claimed that without shortening the abatement from 20 to 15 years and paying the city 12 percent annual gross income instead of 16 percent, it couldn't raise the financing to build Monaco North and South, two rental projects on Washington Boulevard.

The proposed terms would result in roughly a $6 million loss to the city, council members said.

James McCann, the attorney representing Roseland, countered that newly proposed rental projects are being given 15-year/12 percent abatements, and the result of not sweetening the abatement could mean a vacant lot.

After the vote, McCann called the project "stalled."

"With the existing abatement we cannot move the project forward," McCann said. "Since the council didn't like the proposal, we would probably change it in a way that might satisfy the financing and hopefully the council as well."

The proposed buildings, at the intersection of Washington Boulevard and Sixth Street, would contain 330 market-rate units.

KEN THORBOURNE