Developer has plan for Passaic's Main Avenue

City hopes project will launch revitalization

By: Matt Fagan
NorthJersey.com
USA Today Network - New Jersey

..... A mixed-use project that possibly includes a residential building with retail space on the first floor is being proposed for Main Avenue.
..... The building, which can reach up to 10 stories, is the first such project to be proposed since the City Council adopted new zoning for the stretch of Main Avenue from Pennington Avenue and Monroe Street about two years ago. The new zoning permits buildings to reach 11 stories.
..... In response to the proposal by local developer Alex Perez, the council introduced an ordinance last week [01/24/2023] to designate the properties in question as being in need of redevelopment.
..... Perez, whose family business owns hundreds of apartments in the city, as well as a number of retail establishments, said he is looking to bundle several of the lots the business has acquired into on project that will take up about a quarter to a third of the block at Main Avenue and Oak Street.
..... The most recognizable boodling on those properties in question are the Pashman Plumbing Supply and Jack Georges Incorporated buildings.
..... It has not yet been determined how tall this specific mixed-use building will be.
..... "There's a lot of factors being considered,"" Perez said. Among the factors are the market conditions, he said, adding that the ground floor will be sued for retail space.
..... "Retail does phenomenally well in Passaic," Perez said. He said the ordinance that would permit the redevelopment of the block will need a second hearing and public input.
..... If the project is approved, the site will also include parking deck. Initially, Perez said his business had purchased only one property and planed to use it for 17 apartments, but ultimately the business was able to connect five lots, allowing it to propose a much larger project.
..... This development is a potential game changer for this section of the city, said Business Administrator Rick Fernandez.
..... "All of these properties were pre-existing, non-conforming uses in a commercial/residential area," Fernandez said.
..... The existing business, Fernandez said, are not ideal for the area, with the tire shop causing traffic issues, as do the plumbing supply store;s tractor-trailers. He said the section of Main Avenue in question is not thriving.
..... "This could really change the area," Fernandez said of the project. "It should serve as a catalyst for growth."
..... Mayor Hector Lora said he's glad that in the two years since the zoning change, investors are coming forward with projects that promise to reinvigorate the city's downtown.
..... "Two years we pitched this plan," Lora said. "We are extremely excited to see these types of proposals. It wasn't too long ago we thought investors could not come."
..... If the project is approved and built at 10 stories, it will be the second-tallest building in the city. The tallest is at 663 Main Avenue.
..... The second reading for the redevelopment is set for February 7, [2023] when the public will have an opportunity to speak on it.
..... If the redevelopment designation passes, Perez said, he thinks tenants could be moving in three years from now.

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