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Rentals up in Bergen County
Building permits to be issued
Mixed development in Fort Lee
Senior citizens of Bergen County welcome the New Year
Summer vacation housing on the rise
Statistics reveal that home rents in various Bergen County towns have risen over the past year. As per the American Community survey of census, rentals in Bergen County have risen by 32%. Figures regarding neighboring regions are bleak too, with Westchester showing a rental rise of 36% and Rockland showing a rise of 26% approximately. People seeking affordable housing are most affected and local governments are looking for options to increase such options. Many families are even living separately in order to keep up with the growing rents. Also with the number of single parents, elderly people and unmarried young people on the rise, it has become difficult for many to maintain a single home on their own, at such rents. Few residents also expressed concern that an increase in number of children in new apartment complexes could indirectly cause tax increases. They added that sending these children to school would increase the burden on the school, forcing it to improve amenities, which would then reflect on property taxes.
For all those seeking to enter construction in Teaneck, building permits are now being issued. Issuing of these permits commenced on 2nd January, 2008 and is expected to go on through this entire week. The permits are being issued by the building department and those interested can meet the concerned officials here. While the permits are being issued on all days from Monday to Friday, offices will be closed on official holidays. The timings for issuing building permits are from early morning hours to 3:30PM in the afternoon. Those seeking the permits need to approach the department with complete details of the project including how designers plan to meet the various objectives of the building construction.
The Centuria Project of Fort Lee, which promised to offer mixed use development in the region, has still not begun development. This $800 million worth project had held much in promise in the form of an over 200 room hotel, a conference center, retail and office space. Besides this, approximately 830 residential condominiums were also planned on the property. However, today, even after two years, the project has not kicked off and the land sits empty. The Town and Country at Fort Lee Inc, who are the developers for the project, state that the reasons for delay in construction are many. For one reason, the wait is still on for the various utility companies and the borough to coordinate efforts and provide relocation of power and communication lines to the region. This has not taken place till now, due to fear of cutting off the Port Authority Offices at George Washington Bridge. The second reason for delay in construction has been marked as the sub prime mortgage crisis that the real estate market is facing. Many banks are today reluctant of financing huge multi million dollar projects, and unfortunately Centuria is one of them. Finally, the attorney added that the state Department of Environmental Protection has asked the builders to put a monitoring well in the middle of Lemoine Avenue, which is not possible. In response to the question on rumors that the mixed use development may never be built, officials from the developer’s office stated that all efforts were on to go ahead with the construction. Designs were being developed and the developers have been conducting regular meetings with borough officials to further the project. However, a lease deal is yet to be signed with Starwood Hotels & Resorts Pvt Ltd, once the developer can provide a starting date for the project.
Senior citizens of Bergen County welcome the New Year
While the residents of Bergen County greeted the New Year in their fashion, the senior citizens of the County had their share of fun too. Most of the seniors heralded the New Year early, as they danced to the sounds of salsa and meringue. The event took place in Hackensack, at the Americas Unidas Multi Cultural Senior Activity Center. Senior citizens of the age group of 60 to 95 were seen at the event, and many participated through dancing, singing or simply sitting and listening. The senior center is a frequently visited place for many senior citizens who come there to either learn dancing, paint, watch movies, learn yoga or participate in few of the diverse activities the place offers. The center has been in operation for 35 years, and provides a good meeting place for the over 140,000 seniors of Bergen County. It is funded by the county.
Summer vacation housing on the rise
Enriched with year end bonuses and cash from Christmas, many young people are now seeking for new holiday homes for rent in the market. Most of these young adults are looking for homes along the shore and as per real estate experts; rentals are quite high in the region. Summer vacation housing is a good option for many young adults who are willing to shell out more money to enjoy the short vacation in nice locales. For this shore towns or those with more vacation activities and facilities are a good option taken up by many. Statistics reveal that rents for a three bedroom apartment are earmarked at approximately $16,000. Homes with five bedrooms are also up in the market and are available at approximately $25,000. While realtors are happy with the responses to vacation housing, they stress that it is important that such homes are rented to the right people. Most people appear nice, but one cannot overlook the possibility of what happens when the renter’s have taken a few drinks. Also guidelines are set on the number of guests who can be entertained and how.
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