Financial Incentives Fuel Hackensack’s Transformation of it’s Downtown

the staff of the Ridgewood blog

Hackensack NJ, the City of Hackensack has seen a massive influx of development that has transformed the city’s downtown in recent years. The development has been made possible by Financial incentives.

11 years ago the city designated a large swath of Main Street and the surrounding area as one in need of rehabilitation and laid out a redevelopment plan to attract developers, thousands of apartments in mixed-use buildings have opened.

City officials say the financial agreements Hackensack negotiated with these developers, known as payments in lieu of taxes, or PILOT, are now paying off as the buildings fill with tenants.

Here’s a brief overview of the history of Hackensack:

Native American Inhabitants: The Hackensack area was originally inhabited by various Native American tribes, including the Lenape people. These indigenous communities lived along the Hackensack River and its surrounding lands.

Colonial Period: The Dutch were among the first European settlers in the region. In the early 17th century, the Dutch West India Company established trading posts and settlements in the area. The city’s name “Hackensack” is derived from the Lenape word “Hacquins-hacky,” which means “mouth of a river” or “on the low ground.” The English took control of the area in 1664 when they captured New Netherland, and Bergen County, including Hackensack, became part of the English colony of New Jersey.

American Revolution: During the American Revolution, Hackensack played a significant role as a strategic location. It was occupied by both British and American forces at various times. In 1776, the town was captured by the British and used as a base for operations in the region. However, it was later retaken by American forces in 1780.

19th Century and Industrialization: As the United States underwent industrialization in the 19th century, Hackensack experienced growth and development. The opening of the Erie Canal and the establishment of railroads contributed to the city’s economic expansion. Hackensack became a hub for manufacturing, commerce, and transportation.

20th Century: The 20th century brought further urbanization and growth to Hackensack. The city saw the construction of schools, hospitals, and other infrastructure. Over time, its demographics became more diverse, with a mix of residential, commercial, and industrial areas.

Modern Era: In recent decades, Hackensack has undergone revitalization efforts to enhance its downtown area and improve community facilities. The city has continued to evolve as a suburban community with proximity to New York City and easy access to transportation.

Today, Hackensack remains an important part of Bergen County and the greater New Jersey region. It’s known for its cultural diversity, historical landmarks, and its role as a commercial and residential center.

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