Hackensack project would create hundreds of apartments in former downtown bank building

Hackensack project would create hundreds of apartments in former downtown bank building

a7e00fc0edc584b4e140ccb3cf372251-feature.jpg

OCTOBER 9, 2014, 7:51 PM    LAST UPDATED: FRIDAY, OCTOBER 10, 2014, 9:39 AM
BY TODD SOUTH
STAFF WRITER
THE RECORD

HACKENSACK – Construction could begin by January on a third major downtown residential redevelopment project that is likely to be voted on by the City Council later this month.

Three adjacent properties, anchored by 210 Main St., -- the former Bank of America building -- comprise the project that was publicly described in detail this week before the council. The project was approved by the city’s planning board on Wednesday.

Plans call for the development of 327 units total in the three buildings – 96 units at 210 Main St., 39 units at 214 Main St., and 192 units at 210 Moore St.

The council is expected to approve an ordinance for the project at its next scheduled meeting on Oct. 21, or in its first November meeting. If approved, a 45-day period follows in which the council’s decision can be appealed.

The mixed-use residential and retail development is one of the sorts of projects favored in the city’s long-term plan for the downtown. Business and city leaders hope that within a few years new buildings will fill with residents who’ll live and shop in the downtown, increasing the flow of tax revenues.

In a Tuesday council meeting, Deputy Mayor Kathleen Canestrino said the art-deco bank building has long been the “focal point” of downtown.

“It’s wonderful to see it come back to probably even better than its former glory,” Canestrino said.

The building was the county’s first skyscraper, opening its doors in 1927 with the People’s Trust Co. Bank as its main tenant. The 11-story structure was the county’s tallest building at the time.

Francis Reiner, the city redevelopment consultant, showed the council plans for a renovation of the bank building on behalf of Ridgewood-based property owners, the Heritage Capital Group. Two adjacent properties, 214 Main Street and 210 Moore also are part of development plans.

Most of the spaces will be one-bedroom or studio apartments with a few two-bedroom units and possible penthouse suites if additional space is added to the top of 201 Main St.

If the project is approved, Reiner said that work at 210 Main St. could begin by January. The renovations on are estimated to take about a year.

A 14-story residential and retail mix project is planned at the site of 150-170 Main St., with 382 apartments and 7,500 square feet of retail. Construction fences are up around the location but major work won’t start until early 2015, with an estimated year and a half to two-year completion date, Reiner said.

Down the street, the 222-unit Meridia Metro residential building at 94 State St. is scheduled to be complete by next summer, Reiner said.

The council also approved a contract in the amount of $617,139 for the planned Atlantic Street Park, adjacent to the Meridia development. The site is occupied now by a metered parking lot.

In 210 Main St. project, Reiner said plans call for completing the buildings at 210 and 214 Main first, with work on 210 Moore St. to follow. Once completed, the Moore Street building would stand 16 stories tall. Reiner said that project is likely three to five years from completion.

There’s a defunct public parking deck on the site now. Parking for the buildings at 210 and 214 Main will be in a new automated parking structure, with 168 spaces, to be built behind the buildings off of Moore Street.

Email: south@northjersey.com

- See more at: http://www.northjersey.com/news/hackensack-project-would-create-hundreds-of-apartments-in-former-downtown-bank-building-1.1106379#sthash.Pv6XU5ah.dpuf