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Bergen County Real Estate News: November 2010 – Week 1

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

November 2010 – week 1 Issue

Fort Lee House Preserved
Living in Ridgefield Park
Old Tree on Teaneck Property Causes Controversy
The Car Show in Alpine
Edgewater Budgets for its Expenses

 

Fort Lee House Preserved

History is being preserved in the form of an old Fort Lee home. The Ford House that was constructed during the 1850s was under the threat of being demolished when representatives of the Historic site, Structural, Cultural and Landmark Committee appeared before the zoning board of adjustment. They were supported by the Fort Lee Historic Society. At a hearing held during the end of September, both parties supported a variance to convert the house from residential to commercial. After the unanimous approval, the home will be used as a music and violin store and also as a rehearsal venue. With business being conducted at the site, officials are hopeful that no other builder would come and threaten to tear down the structure and build modern housing. The wooden house will thus be preserved, while being put to good use. The new occupants intend to use the house as it is and would maintain its current structure. While officials, historians and the music store representative are happy at the prospect, Fort Lee residents in the region are not as pleased. Many are concerned about bringing business to the residential district. However historians are of the opinion that such variances need to be made for preserving historical architecture.

 

Living in Ridgefield Park

Of the various Bergen County towns, Ridgefield Park offers a special charm for its many residents. The region provides a great neighborhood for those looking to buy or rent a home too. Residents take pride in the community of this town. Most residents are involved in an activity which benefits the community. The region has various unique aspects to it. Ridgefield Park is a village, which is rare in the region. It is well connected with numerous highways like the Route 40 and Route 46. It is rich in historic homes. 36% of homes in the region are over 100 years old. This feature gives it the credit of having the largest number of centenarian homes in the state. Additionally, the town boasts outstanding schools, a factor that makes it a good choice for families with children. The population of the town is at approximately 12,300, and has stayed stable over the changing years. Home prices lie within the $250,000 to $350,000 bracket, with options for single family homes or condominiums.

 

Old Tree on Teaneck Property Causes Controversy

The property in Teaneck which boasts of a 200 year old oak tree is up for auction once again. As per sources, the lone bidder for half acre property was 333 Realty LLC, a group which had submitted its proposal in August. However, with the economic crisis and controversy around the tree, they withdrew their proposal stating the price of $1.45 million was too high. In the current market, a bid of $1.2 million has been set. If no qualified bidder bids over this price, then the property would be sold to Realty LLC for this amount. However, various controversies surround the oak tree in the property. Residents and neighbors opine that such an old tree is rare to come by and thus must be preserved. However, the Union for Traditional Judaism has filed a request with the bankruptcy court to allow for the tree being cut, so that potential bidders have no qualms about bidding for the property. While the union states that it is in people’s best interests to cut down the tree, it would like to preserve the tree if possible. In this regard, Puffin Foundation, a philanthropic venture of Teaneck has pledged $ 200,000 to help preserve the tree.

 

The Car Show in Alpine

Residents of Alpine enjoyed a memorable day in their luxury town at a recent event. The Alpine Classic Invitational Car Show and the Concorso d’Elegenza were organized on October 10, 2010 at the Dolce Hotel and Resort Grounds. The show brought together not just a mix of classic stately cars but also a mix of people. A few of the memorable cars on display included the 1957 Thunderbird, a 1959 BMW, a 1954 Ferrari and also a vintage Rolls Royce. Participants in the show noted that it takes a lot of dedication to upkeep vintage cars. It’s mostly the love for the vehicle that drives them to restore and maintain these automobiles. With resale value that seldom matches the cost and effort of maintaining these cars, it is only the enjoyment that keeps these men doing what the love. Awards in various categories were given to the car owners. Funds from the event would benefit the Educational Foundation of Alpine and further its cause.

 

Edgewater Budgets for its Expenses

As officials of Edgewater work to formulate their new budgets, they are also working on how to utilize excess money. Funds that were left over from previous projects that were completed under cost were classified as surplus and reapplied elsewhere. In this regard, the borough noticed an excess of $ 1.3 million, which under a new ordinance would help in purchasing required equipment for organizations. The Department of Public Works will buy a new truck while the fire department will buy a new rescue truck. The police department would also purchase miscellaneous equipment using these funds. It was considered that the excess funds be used for paying off debt, but this was rejected as per rules a municipality cannot pay more money than mentioned in the amortization table. This would only give scope for re-appropriating the funds. Also, as capital funds and operating funds are separate, this money cannot be used for lowering property taxes.

 


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