CRANFORD, NJ-S.Hekemian Group is in negotiations with the Cranford Township Committee, the local governing body, to turn a 3.5-acre piece of land in the town's Downtown area into a mix of office, retail and residential space. The negotiations are aimed at working out a formal agreement resulting in Hekemian, of Paramus and Princeton, being designated as developer of the Riverfront Development tract.
What Hekemian has in mind for the site, which is located just across the street from this community's commuter rail station, is an unspecified number of residential units comprised of townhomes, condominiums and rental apartments, according to a spokesman for the firm. The complete package would include about 27,000 sf of office space, along with more than 30,000 sf of ground-floor retail space and a 360-car parking garage. Projected cost of the development has not been released.
"Hekemian will sign an interim cost agreement and submit a $25,000 check for payment of costs associated with the interim negotiation period," says Mayor George Jorn. "During this period, the township will negotiate exclusively with Hekemian toward the execution of a redevelopment agreement.
"We will discuss issues related to parking, design, density, schedules, financial arrangements and all terms and conditions relating to the project," Jorn says. Hekemian's selection by local officials as developer of choice came after an RFP process, which set the negotiation period with the selected developer at 90 days. That period may be extended by the township if necessary, according to Jorn.
Hekemian's proposal was one of seven submitted after the township issued its RFP. Hekemian's development team for the project includes Ehrenkrantz, Eckstut & Kuhn, which has its New Jersey offices in Newark, handling planning and design; architects Minno & Wasko of Lambertville; and Silbert Realty & Management of Millington, commercial leasing. Community meetings to gather public input are planned.
If it comes to fruition, the Riverfront Redevelopment would be the second current project in this community's Downtown area. Westminster Communities of Florham Park is developing Cranford Crossing, a $16-million residential/retail project, also near the train station. Silbert Realty & Management has the leasing assignment for that one as well.
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