HACKENSACK, NJ-After the City Council approved a redevelopment plan for the area last month, a developer is now moving forward with a plan to build a 222-unit apartment project here.
Capodagli Property Co. of Pequannock has proposed building the apartments under its Meridia brand. The City Council is expected to consider at a session tonight designating Meridia Metro as the redeveloper and to possibly approve a payment in lieu of taxes agreement with the firm, according to The Record.
“This is a very, very significant move for the city and we think once this project gets under way, it will probably be the catalyst we need,” says Hackensack City Manager Stephen Lo Iacono.
The apartment building to be called Meridia State will be five stories and feature 86 one-bedroom units and 136 two-bedroom units. The developer could appear before the city's Planning Board as early as April for approvals. See story in The Record.
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