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Bergen County Real Estate News : May 2007 – week 1

Bergen county news with an emphasis on aspects affecting real estate, residency and community issues.

Bergen County: storm damage aid comes handy for many
Luxury housing project in Bergen County
Luxury rental units to come up in Ridgefield
New housing plan in Saddle Brook, Bergen County
Blue moon Mexican café


Bergen County: storm damage aid comes handy for many

In Bergen County and Passaic county, over 2000 homeowners, renters and businesses whose buildings were affected by the floods applied for the federal assistance of storm damage aid. Approximately $500,000 was approved as grants and officials from the Federal Emergency Management Agency (FEMA) stated that they had received over a thousand applications from Bergen County alone. Among those received, the organization had approved loans for 200 people and had disbursed amounts of $390,000.

The officials also stated that they were expecting to receive more applications in the days to come. These funds can be utilized for removal of debris and repair of infrastructure facilities affected by the floods. Approximately 60 inspectors did their rounds, knocking on doors and checking the extent of damage through the County. To enable easy access to storm affected residents, the FEMA also opened six disaster recovery centers at strategic points in the state. These centers also provide useful information on housing assistance, rentals and repairs. Information on low interest loans by the Small Business Administration is also offered here. While few residents are pleased with the timely support and assistance, many are looking for more. On interviewing many residents stated that they had lost quite a lot in the floods and rather than a low interest loan, they would rather have some form of compensation.


Luxury housing project in Bergen County

Aurora Development Partners LLC, an organization based in Teaneck has now proposed the building of million dollar condos in Cliffside Park. These condos will come up as two towers made of glass and steel on the Palisades. The proposed structures are expected to comprise of 131 units, which will range from 1800 sq ft to 3100 sq ft in size. These units would come up on Adolphus avenue and would give excellent views of Manhattan and the Hudson River.

The interiors of these condos are also expected to be exceptional as they are being done by Philippe Starck, a renowned French designer. With so many inputs going into this luxury housing project, each condo is expected to fetch sums of approximately $1million to $3 million.

The developers are also renovating the park opposite the site. This park was last developed in 1993, and after public requests during the public hearings, the developers have agreed to take the project up. To achieve this developers have agreed to pay monthly rents of $2000 and make renovations worth $150,000. While new swing sets and benches are being installed, the developers went a step ahead to also raise their sales office, which is illegal as per state regulations. As a result state open space officials have blocked the development made by Aurora.


Luxury rental units to come up in Ridgefield
A luxury rental community is all set to come up along the intersection of Challenger Road and Emerson Street in Ridgefield Park. As per borough officials, this 435-unit luxury-housing complex would provide more tax stability for residents. The complex would come up on three empty plots, which measure to approximately 13 acres of undeveloped land. The units would be one, two or three bedroom units and would comprise of a studio also. Besides this, a restaurant, retail store and a bank are also being proposed. An uncertain number of affordable housing units are also being planned in the area.

The main target audience for this kind of rental housing would be young professionals or young married couples with few children. The building developers assured residents of Ridgefield Park that the housing would have little impact on village schools because most of the target market would not have children.

This area has been vacant for over fifteen years after Hartz Mountain Industries Inc did not complete redevelopment here. Its lease expired in 2005, time when new developers took the challenge up. The development would be undertaken by Avalon Bay, which has agreed to lease the lots and promised that the lots would be for rental purpose and would not be sold. The company is all set to prepare legal documents of the land and take up environmental testing in the area.


New housing plan in Saddle Brook, Bergen County

A new housing plan in Bergen County intends to transform a rundown toy factory into a housing complex that targets homes for people aged 55 and above. The proposed complex, called Crossroads Village at Saddle Brook is the brainchild of developers Crossroads LLC. The developers intend to put up 93 apartments on the block and also plan to undertake thorough cleaning as per the highest norms of the Department of Environmental Protection.

While developers state that the construction had potential to hike up property values for the residents, not many people from the neighborhood agreed to the statement. In fact, many residents expressed doubt that the project could worsen their sewage and flooding problems. The residents added that the town’s infrastructure was old and already beset with many leaks at varied places. Also after the nor’easter floods have played havoc, addition of a complex as huge as the proposed one could cause the infrastructure to collapse anytime. These statements are attested by the draft report that was released a couple of years ago stating that the entire sewage system needed to be reconstructed. While development has been scaled back in most areas due to the sewage problem, only the Amloid toy factory was spared.


HBlue moon Mexican café

Food lovers who have loved the Mexican cuisine at the Blue Moon Mexican café can now look forth to more restaurants opening. This popular Mexican eatery in the metro areas of New York is now planning expansions. In this regard the company formed the Blue Moon Franchises LLC and is expected to open eight to ten branches in the areas of Northeast US. It currently has branches in Bergen County, Manhattan and Westchester County.

The Blue Moon Mexican Café is a favorite of many people across the County, for varied reasons. Some like the fresh items that are prepared daily. Also the menu has something to suit people from all age groups, whether it be small children or grown up adults. The outlets have been a success across the region, which can be seen, in their sales figures. For example, sales in their fiscal year 2006 amounted to above $1 million in each of their outlets. More details on where the franchise outlets would open will be released later.


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Find out more about Bergen County homes available for sale. Anat Eisenberg can help you find your dream real estate property. Anat is no ordinary real estate agent. In short, she is professional, honest and dedicated. Call: 201-341-4765 or email here

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