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December 2009 – week 3 Issue
Events of 2009 in Bergen County
2009 in Bergenfield
Developments in Xanadu project of Bergen County
Bergen County chosen area for office space
Bergen County goes solar
Events of 2009 in Bergen County
Various Bergen County towns saw many developments during 2009, both positive and negative. The economic crisis that gripped the nation in 2008 eased slightly this year. The Bergen County real estate market remained stable during 2009, which pleased home sellers. In Fort Lee, the Centuria project displayed signs of stabilizing as parts of the land parcel were sold to its initial investors. At the 800-acre EnCap site, officials discovered an increased amount of exposed trash that threatened to worsen environmental pollution. After the project’s bankruptcy, much of the support material put in place has deteriorated. The state, however, is formulating plans to improve the area by converting it into a natural open space, a warehousing zone or a site for solar panels. In Alpine, residents celebrated the nature center’s hundredth birthday.
The Bergenfield borough made several improvements in 2009, notably in property valuation and in fiscal responsibility. In preparation for further cuts in state funding, Bergenfield has committed to keep its budget trim and has planned to scale back its expenses to focus on core services. Bergenfield’s revaluation of property in the third fiscal quarter enabled the borough’s approximately 7000 residential property owners to pay property taxes better reflecting their properties’ true values. It also helped to correct the inequalities that once existed in property taxes. Bergenfield’s official website was also created in 2009 to provide information on the township.
Developments in Xanadu project of Bergen County
Recent developments may help promote the stalled Xanadu project. On Thursday 15 December, the state approved placement of approximately 12 billboards for Xanadu. Of these, two billboards would be placed on top of the building and the others would be placed in close proximity. With this new development and improved landscaping in the region, designers hope to create a better looking exterior to attract home buyers. So far, the building has come under criticism for its multicolored outer walls. The billboards would face the New Jersey Turnpike or Route 120. Also, once the billboards are up, they are most likely to feature the corporate sponsors and the stores that will come to the area. Officials from Xanadu stated that the two million square foot shopping and entertainment complex still needs $500 million for completion, only after which work on the billboards will begin.
Bergen County chosen area for office space
While the Bergen County residential real estate market of continues to recover at a slow space, the office and commercial markets in the region are showing distinct signs of improvement. Commercial leases in Bergen County business areas are strong and promising for the future. One major factor in the strength of the commercial real estate market is excellent infrastructure and good features available, such as on-site management, after-hour key card access, high speed telecommunication access and easy parking. Centrally-located Bergen County real estate is also in demand because of its convenient location, accessible both to employees and to clients. Many real estate experts note that various boutique shops and specialized eateries are also located in close proximity to the Bergen Town Center, making it an excellent location for a business and its staff.
Bergen County residents who are considering measures to cut their electricity bills can now access the new option of solar power. While many consider it too expensive, a new company called 1BOG (One Block Off the Grid) has found a way to make it more viable. Using group purchase techniques, the company forms a bridge between vendors and customers. The organization operates by researching various creators, makers and installers of solar systems and helps them connect to the most viable customers. It also reviews the quality of the various systems of solar energy and negotiates with reputable companies for low cost options. Finally it provides information to residents on the various solar options available and helps them make an informed choice through one-to-one sessions. After conducting 15 campaigns across nine cities, 1BOG has chosen to work with Bergen County residents. Officials say they expect to find a lot of Bergen County residents eager to try solar electricity, plus rising PSE&G prices and government incentives that further help reduce the cost of solar installations. For more information on solar systems and how to install them, visit 1BOG’s website.
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