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Thread: New Brunswick Rising

  1. #151

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    Awesome! Thanks to Rutgers, New Brunswick is looking like a real city, rather than just an overbuilt suburb! Keep it up.

  2. #152

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    Weichert Commercial markets redevelopment site in New Brunswick

    Feb 20, 2013



    Mark Calabro / PHOTO COURTESY OF WEICHERT COMMERCIAL BROKERAGE



    James Sousa / PHOTO COURTESY OF WEICHERT COMMERCIAL BROKERAGE


    NEW BRUNSWICK — John G. Udell, President, has announced Weichert Commercial Brokerage, Inc. has been appointed as the exclusive agent to market a redevelopment site in the city’s downtown. Senior Vice Presidents, Mark S. Calabro and James Sousa are handling the marketing of this property.
    The redevelopment site, The Pinnacle, encompasses more than 3acres in the middle of the 5+ acre New Redmond Redevelopment Area. It is located on New Street in New Brunswick, within three blocks of the Northeast corridor rail system. The property is zoned mixed use — residential, medical and professional office. With its proximity to Rutgers University and Robert Wood Johnson University Hospital, the site offers an excellent opportunity for a corporate headquarters or a large-space single tenant looking for presence in a well located and growing city.
    “We are extremely pleased to handle the marketing of this exciting project,” stated Mark S. Calabro., “This location in the hub of one of the major cities in central New Jersey offers many possibilities.”
    For more information, contact Mark S. Calabro or James Sousa at 973-267-7778.
    Weichert Commercial Brokerage, Inc. is a leading commercial brokerage company with offices throughout New Jersey and Pennsylvania. Weichert Commercial consistently delivers the highest quality real estate services through its office, industrial, retail, investment, tenant representation and commercial land brokerage divisions. Weichert Commercial is a proud member of the CORE network, a national network of select commercial real estate companies providing a full line of commercial real estate services to its member clients. During the past 10years, NJ Biz Magazine has ranked Weichert Commercial in the top commercial real estate companies in NJ and CoStar Group, Inc. has ranked it in the Top Power Brokers in New Jersey since 2002. For more information about Weichert Commercial Brokerage, call 973-267-7778 or visit www.weichertcommercial.com.

    http://www.mycentraljersey.com/artic...nclick_check=1

  3. #153
    Forum Veteran West Hudson's Avatar
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    A marketing piece for Weichert of course, but thanks for posting ;-) So I guess the Pinnacle residential tower plans have been scrapped? I'd much rather see an office building go up there myself...plus New Brunswick needs more competitive Class A space to foster further residential development.

  4. #154

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    ^Nt sure if they scrapped it, so much as expanded on it. Where exactly is this supposed to be anyway? I can't see where they'll put it.

  5. #155
    Forum Veteran West Hudson's Avatar
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    It's supposed to go in somewhere near the Wellness Center building I believe...

  6. #156
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    Thumbs up Matrix Seeking to Build 380-Unit Building

    According to the article below (which is about Matrix's plans to build spec industrial buildings in South Jersey), it is mentioned that they are seeking an Urban Transit Tax Hub Credit to build a 380-unit building in New Brunswick:

    "It is also awaiting word on funding for the state’s Urban Transit Hub tax credit program to determine whether it can go ahead this summer with a 380-unit residential project in New Brunswick."

    This appears to be a completely separate project from Boraie Development's 200-unit building across from Robert Wood Johnson near the Rutgers campus. I know Matrix put out a proposal about 10 years ago for a building called the Metropolitan that would have been something like 10 stories of residential wrapped around a hidden, multi-level parking structure. That building was proposed for what is currently a parking lot behind some office buildings on George Street, near the new building "The George" (formerly New Brunswick Arts Building) that just was completed across the street from Rockoff Hall. Alternatively, this Matrix proposal might be for the Pinnacle site which is further south and (I believe) near the new Wellness Building. In any case, seems like New Bruns is certainly heating up.

    Link: http://www.globest.com/news/12_567/n...8A-331351.html

  7. #157

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    Good but I don't know where on New St, southeast of Livingston Ave, that they can fit any more developement. Maybe on the other side of Livingston.

  8. #158
    Forum Veteran West Hudson's Avatar
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    The Metropolitan will be built across Neilson Street from the Highlands at Plaza Square in the parking lot behind the office buildings fronting on George Street. Looks like the project is a joint venture between Matrix, Ironstate, and Roseland, and the Highlands was the first phase of the two-phase project. Check out this article from the NY Times from way back in 2001:

    http://www.nytimes.com/2001/01/21/re...buildings.html

  9. #159

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    No way! That's going to be a big project. And I hope they have ample parking factored in because downtown's notorious for crappy parking options. If these three cooks in the kitchen can't get it off the ground, shame on them.

  10. #160

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    The Melody closed in the early 2000s, the Court is still there, and recently was renovated (I thought at first they were closing). The appliance store may have been Gabowitz or Derby (both located elsewhere). On the other side of the tracks, Corner Tavern Scarlet Pub, and Old Queens are still there, The Old still getting busted for serving underaged. Surprised they're still in business.

  11. #161

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    Quote Originally Posted by mariab View Post
    The Melody closed in the early 2000s, the Court is still there, and recently was renovated (I thought at first they were closing). The appliance store may have been Gabowitz or Derby (both located elsewhere). On the other side of the tracks, Corner Tavern Scarlet Pub, and Old Queens are still there, The Old still getting busted for serving underaged. Surprised they're still in business.
    Wow, this brings back lots of memories! Thanks Maria!

  12. #162
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    Default Massive Rutgers Project Gets $33 Mil UTH Credit

    Along with two projects in Jersey City, the $295 million complex set to be built at the southwest corner of Hamilton Street & College Avenue was approved for $33 million in urban transit hub tax credit financing. According to the second link below, DEVCO was seeking a $52 million tax credit, but it's possible that the partnership with Rutgers & others either decided to scale down the plans or found another way to finance it.

    Link: http://www.njbiz.com/article/2013040...t-Hub-projects

    Link 2: http://www.nj.com/news/index.ssf/201..._clears_l.html

  13. #163
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    Default Matrix Building Given 30-Year Tax Abatement, Permits Issued for Garage Construction

    According to the article below, the 10-story Matrix/Roseland/Ironstate building set to rise on Neilson Street received approval for a 30-year tax abatement last week and should be starting construction soon after more than 12 years on the drawing boards.

    Side note: with 393 units, I believe this would be the third- or fourth- largest building under construction in the entire state of New Jersey if either or both 70 Columbus & the first Harborside tower go U/C soon (otherwise this will be #2, right behind JC's 18Park):

    http://newbrunswick.patch.com/articl...matrix-project

  14. #164
    Forum Veteran West Hudson's Avatar
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    Default Property Sales at Boraie Site

    I was looking at real estate in New Bruns when I came across a series of real estate sales on 3/20, 4/5 and 4/8 for several contiguous pieces of property on Somerset and Condict streets. According to NJ tax records, the property was previously owned by members of the Boraie family. It seems like either the property is being merged into one entity or is being sold to another developer. Has anyone heard of any updates on this building? I think it's one of the most significant proposals for the city as it will help spread large-format urban architecture west of the train station.

  15. #165
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    Default Update on Boraie Building

    According to the (very informative) article linked to below, Boraie was aiming to start construction in the first quarter of this year, and the exterior design changed quite a bit. I think this may become the ugliest building built in New Brunswick since redevelopment began - looks sort of like a public housing project merged with a warehouse.

    Original Design:
    Click image for larger version. 

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    New Design (courtesy of newbrunswicktoday.com):
    Click image for larger version. 

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    Gotta love how developers always pull the bait-and-switch on planning boards and the community by initially throwing a flashy, beautiful design infront of them to get them excited and win project approval and then come back a few months later for amendments to the approved plan with what they usually term "minor deviations" from the original design.

    btw - the project is being named "Somerset Mews" according to the article.

    http://newbrunswicktoday.com/article...k-new-highrise
    Last edited by West Hudson; May 5th, 2013 at 10:28 AM.

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