PASSAIC, NJ-Two significant projects being proposed by Philadelphia’s Pennrose Properties LLC for critical parcels here are now moving into the planning stages.
Pennrose is working on redeveloping the former Uniroyal factory and the Alfred Speer Village on the eastside of the city.
Passaic Business Administrator Ricardo Fernandez says the city is working out a developer’s agreement that will set a timeline for the Uniroyal project. He said the developer’s agreement is still “several months” away, according to The Record.
The developer is looking to convert the former Uniroyal factory into an apartment (550 units) and retail development. Pennrose is the redevelopment partner with the Passaic Housing Authority for the 389-unit high-rise Alfred Speer public housing complex. See story in The Record.