Wednesday, January 23, 2013
Township Council gets some answers, but questions remain on project.
Once again, the historic Edison Battery Factory and its redeveloper, Prism Capital Partners, were the hot topic at The West Orange Township Council meeting, on Tuesday night. Prism was approved earlier this year to begin building a mixed residential-retail development on the site of the former Edison Battery building. Representatives of West Orange's Redevelopment Counsel, McManimon, Scotland and Baumann, LLC, and NW Financial, West Orange's redevelopment financial advisors, were on hand to provide an update on the project to the council and answer questions. One major concern addressed was the possible foreclosure by Wells Fargo. The council learned Tuesday the foreclosure was dismissed. The council was also told escrow accounts are up to…
Friday, August 10, 2012
West Orange residents' opposition to the council approved financial agreement and $6.3 million in general obligation bonds for the Edison project redeveloper fall short in court.
Two lawsuits filed by residents challenging the township’s financial agreement and $6.3 million in general obligation bonds for the Edison Village redeveloper were dismissed in state Superior Court. In April, Residents Kevin Malanga and E. Michael Taylor sought to overturn an ordinance passed by the council in March to grant a 30-year tax exemption for the redeveloper, Prism Green Associates IV LLC. The lawsuit was dismissed on July 27 in state Superior Court. Malanga and Taylor challenged the township on multiple issues regarding the financial agreement. This was because instead of collecting taxes, the township will enter into a payment in lieu of taxes with the redeveloper, who agrees to pay a reduced amount in taxes to the township …
Thursday, August 2, 2012
Traffic engineer says there will be 'no significant negative impacts ... to the surrounding area' in West Orange, citing a new traffic study.
The Edison redevelopment project continues to hit delays as the Planning Board again did not vote on the proposed changes to the altered site plan. A new traffic study found that the changes to the plan will have “no significant negative impacts ... to the surrounding area” or intersections, said traffic engineer Bill Lothian, of Langan Engineering, speaking on behalf of Prism-Green Urban Renewal Associates IV LLC, a subsidiary of the redeveloper. The original traffic study for the project was done in 2007 when the redeveloper, Prism Green Capital Partners LLC, was proposing to build condominiums with more than 660 parking spaces. The redeveloper has since proposed to offer rental units with 642 parking spaces instead, in addition to …
steve@murraystreet.com
11:25 am on Sunday, January 27, 2013
Amen! Thank You Mark Paulson and Gary Englert. It astounds me that some writers never have a good word to say about how someone else is doing the difficult jobs. more ›