With luxury homes on the waterfront, streetscape changes on Bergenline Avenue and affordable housing projects, West New York has seen it all in development over the past few years. Mayor Albio Sires has found a way to make sure that the developers of the luxury homes continue to benefit the rest of the town.
As part of the contract that the town entered into with Roseland Property Company, the main developer of the town’s waterfront property, three years ago, the developer agreed to donate $1,500 for every apartment unit completed on the waterfront to the town’s Affordable Housing Trust Fund.
Carl Goldberg, a principal in Roseland Properties, presented the mayor with his second check for the fund on Tuesday in the mayor’s office. The check was made out for $454,500, which represented 303 units his company had built.
“In about one month to six weeks we are expecting to render another check,” said Goldberg, who added that a check would be presented at the completion of each building.
“This contribution will help our town assemble the necessary funds for the construction of our affordable housing development, providing quality shelter for our working families,” Sires said last week.
The agreement is very unique to developers. According to Goldberg, this is the first time his company has entered into an arrangement where he had to donate money to benefit the entire community.
“From the day one, we were told that the waterfront must benefit all residents of West New York,” Goldberg said.
“I insisted that developers on the waterfront contribute to affordable housing,” said Sires.
Roseland is the developing company of Port Imperial at West New York, the waterfront community spanning two miles and 200 acres along the Hudson River Gold Coast facing Midtown Manhattan. It is the site of more than 6,000 town homes, condominiums and luxury apartment homes.
“There will probably be another 37,000 units,” said Goldberg. “The total amount given will be in excess of $6 million.”
First time around
The first check given to the city was used to help fund the multi-site affordable housing project that the town is currently developing. The town used $600,000 from a trust fund.
“Now we are starting to see the fruits of this agreement,” said Sires. “As development takes hold, so does money for affordable housing.”
The affordable housing project’s three sites include one site in each of the town’s three wards.
The Filmore Place site is in the 1st Ward, Madison Manor in the 2nd Ward and Dewey Manor in the 3rd Ward. Two of the buildings in the multi-site effort have apartments with more than two bedrooms.
“We saw that there was a need to take care of people with children, more than one child,” said Mayor Albio Sires. “There was no affordable housing in sight for them.”
Filmore Place, the largest site located between 60th and 61st streets, will house two identical five-story buildings, a municipal parking lot and the offices for the city’s Parking Authority.
The Madison Manor site, located on the corner of Madison and 60th streets, will be a three-story building including 18 three-bedroom units with a parking lot across the street.
The Dewey Manor, located on Dewey Street on the corner of 64th Street, will contain 17 three-bedroom units and parking on the lower level.