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RussianBergen county news with an emphasis on aspects affecting real estate, residency and community issues.
Englewood: condos for sale
Bergen County: Residents try to renovate home
Another case of housing in polluted regions
Foreclosures in Bergen County
Bergen County’s Housing project
Englewood: condos for sale
New changes have now been put into effect at Flat Rock Square, the new mixed-use village of Englewood homes. As per the changes implemented on Tuesday, May 29, 2007, the developers of the community would have to pay higher amount in minimum property tax. They would also be required to sell the units as condominiums before they can rent them out.
This ruling is not much in tandem with what the developers had in mind. During the planning board decision in February, the developers had been given the freedom to choose between renting and selling the residential units. That option had been more viable as developers stated that renting was more profitable in these times as the market for selling condos had reduced in viability. Notwithstanding the new ruling, council members say that condos will generate higher tax revenues, and will help protect taxpayers and owners of Englewood real estate.
In return of this ruling, the council has eliminated the requirement for constructing 240,000 sq feet of office space as part of the project. Also, the developers have the freedom to propose a smaller office building. Besides the housing, a 160-room hotel, retail and office space are planned on the site. The terms now require that the developers spend approximately $1 million to market the condos for six months before renting them out. They would also need to pay $2 million as taxes for the residential units.
Bergen County: Residents try to renovate home
A couple of residents in Hackensack, Bergen County, who tried to save money on construction, will now end up paying much more than they intended. The homeowners of a two-family home in the region took a permit for $107 to redo the basement floor and roof. However a casual check at the home by an official revealed that they went further than what the permit allowed them. They had excavated approximately 3 feet of soil and the foundation and footings of the rear entry foyer had been removed.
Officials stated that this left the foyer suspended in a dangerous manner. Dirt was also excavated in the basement for waterproofing, another aspect that the owners did not take a permit for. The owner also demolished a bathroom in the basement with plans to add it in a different location. The homeowners stated that they did not know that so many permits were needed for renovation. Officials called in the special operations unit that put supporting wood beams under the foyer and threw stone to fill up the three foot hole. A stop work order was also issued to the residents. These residents who tried to repair their home themselves and probably save money, now face charges over $2,000 in zoning and construction violations. They will also need to bear additional charges of hiring an architect.
Another case of housing in polluted regions
After the Teaneck case of polluted surroundings, the State Department of Environmental Protection is raising doubts about the carcinogenic agents that may have been left at an area in Wood-Ridge.
This area which was formerly the site of a landfill of the Curtiss Wright engine plant will soon house 700 homes. However various tests like the soil vapor test conducted in the area show that contaminants are much above acceptable levels in the region. However some areas have safe soil and as per a decision reached by the DEP, the land development can take place in phases along with a cleanup program for removing contaminants. This program of cleaning the area could cost up to $27 million.
While the developers assure that once housing and cleanup is complete, the land would be safe for living, many people have their concerns about the case. Few experts have even cited documents of Curtiss Wright and the developer that state that further cleanups if needed, would have to be funded from taxpayers.
As an increasing number of mortgages get into troubled waters, various amateur and expert investors participated in a seminar in Bergen County called to address the issue. The seminar was conducted at an auditorium at the Bergen County jail in Hackensack. Over hundred people attended the event that was sponsored by the Bergen County Sheriff. The seminar highlighted the aspects that foreclosures are not an easy route to easy money.
Statistics put forth at the event also demonstrated that Bergen County may be heading towards a record number of foreclosure sales in the year 2007. Records show that foreclosures over the years have been on rise and the county reported 59 foreclosures in 2005, 95 in 2006 and till date 72 in the year 2007. Currently various homeowners taking subprime or adjustable mortgages are seen to have fallen behind their payment schedules. Foreclosure sales are usually scheduled on Fridays at 2pm and are conducted at the Bergen County Courthouse. These sales are open to the public and those interested can check out the list of properties which are advertised online at bcsd.us and in The Record on Wednesdays. A free list can also be availed from the courthouse.
Bergen County’s Housing project
Over two hundred housing units may come up in Oakland, once the project is signed off by Bergen county and the state. This project to come up over 83 acres of land, is slated to complete over a period of three years, and will be undertaken by Pinnacle Cos. LLC based in Chatnam. Included along with these housing units, are 28 units of affordable housing that are being offered by the developers.
Attempts to bring housing on the site have been on since the year 1991, when the borough agreed for bi-county development including affordable housing units. Pinnacle, purchased the property in 1997 and submitted its first development proposal on the area way back in 1999.
Till now the project has faced great opposition, from the neighbors who feel that the site is better suited for a park. Many residents have even expressed concern that school children from the development could increase the crowd in local schools. As per spokespersons from the developers, the building plan is ideal for the area and the borough’s zoning board has been anticipating such a development in the area. However a final vote on the project is still to be taken and the board would take it on June 28, 2007, when the project would finally be approved.
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