(To read more on the multifamily market, click here.)

BAYONNE, NJ-The square block at Ave. E between 50th and 51st streets here currently contains three attached commercial buildings, but Baker Residential wants to change that landscape dramatically. The Pleasantville, NY-based developer has floated a proposal to tear the buildings down and replace them with a 107-unit, five-story residential condo building. The city planning board is scheduled to consider the proposal, which is said to require variances related to density, in mid-July.

According to plans released by Baker Residential, the Gateway at Bayonne, as the project has been dubbed, will include 91 two-bedroom units and 16 one-bedrooms on the upper four floors. The ground floor would contain a parking garage with a capacity of 145, according to Baker officials.

The redevelopment of the Riggio/Keene Cashman site, as the property is locally referenced, would mark Baker’s third residential project here. The company earlier completed the 144-unit Boatworks in the city’s downtown, a project that has sold out. And under construction is Bay Harbor, a 30-unit apartment building in the city’s midtown area.

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