>Stuart Portney, president of The Metro Company, a real estate, planning, housing, finance, and development consulting group based in Jersey City, presented a draft Central Business District redevelopment plan to Village Council members during last night’s Council Work Session.
The redevelopment plan’s sole purpose is to legalize construction of a 50 foot high, 4-story, 300+ space parking garage on the northwest corner of North Walnut Street and Franklin Avenue. As currently planned, the structure will incorporate retail space on floor one, and parking on floors two through four.
Although a development company and architect have not yet been selected, Jeff Wells, principal owner of Wells Associates, an architectural firm with close ties to the Village, was present in the audience during Mr. Portney’s presentation. It is rumored Mr. Wells is also a member of the real estate investment group that recently purchased 120 Franklin Avenue, the former Town Garage property, which must be acquired by the Village to facilitate construction of the proposed parking structure.
A revised redevelopment plan will be submitted for Council approval within one week. Once Council members approve the plan, it will be forwarded to Planning Board members for review and endorsement.
>mr wells all i can say that you do dirty bizz.you know the town wanted to buy that place.whats up with that.