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RAHWAY, NJ-This city’s redevelopment agency, formed earlier this year, is negotiating with the unnamed New York-based owner to buy the shuttered Hamilton Laundry here. According to a published report, the parties are about $500,000 apart, with the city offering $1.5 million and the owner asking $2 million. City officials say they are optimistic that the property will be in their hands by the end of November.

The facility, which operated as industrial laundry until bankruptcy closed it back in 2000, sits on adjoining parcels totaling just over 7.6 acres. What the city has in mind for the site is to redevelop it as an entertainment complex. While planning is still in the very early stages pending the sale of the property, according to officials, it would at least include a live theater with up to 300 seats and a movie theater with seating for about 100.

While plans are still far from finalized, the redevelopment agency has announced that it has hired Whitestone Associates of Watchung, NJ to do an asbestos study on the site’s main building, which was constructed back in the late 19th century.

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