Nine Story Apartment Building Slated for Easton and Hamilton

[Tango Two]

The developer of an incoming apartment building hopes to pull some Rutgers University students out of the sprawling city and into a nine-story, 181-unit apartment building in a highly-trafficked area.


https://www.tapinto.net/towns/new-b...tory-apartment-building-slated-for-easton-and

 

[Fat-Tony]

I was at the meeting on Monday night when it got approved (however, I wasn't there for that application). It seems to be an attractive transitional use between the downtown and the residential uses. The applicant attempts to minimize the impact of the structure through architectural design and materials. The existing medical use is a bit of a dinosaur which didn't make good use of the space.

 

[Tango Two]

 

[ScarletKid2008]

Great location and Easton Ave needs to continue to improve, update, and become the entertainment and food "heart" of the NB campus. If Easton Ave from the train station to the park were updated, improved, cleaned up, and attractive we would have something really really special. I don't think its terribly far off either. Just need to get the right people involved who care.

 

[Korbermeister]

Great location and Easton Ave needs to continue to improve, update, and become the entertainment and food "heart" of the NB campus. If Easton Ave from the train station to the park were updated, improved, cleaned up, and attractive we would have something really really special. I don't think its terribly far off either. Just need to get the right people involved who care.

too true. i never thought i'd be able to say that george st. is more inviting than Easton ave.

 

[Korbermeister]

maybe this pic should be sent to the owner/s of the 3 houses on the left as a hint of what a well kept property looks like

 

[pmvon]

Lots of institutional money flowing into off campus student housing. RU and NB should allow these private devolopers and dollars continue to come in as long as they do it in a way that is consistent with the universities brand.

 

[SF88]

Great location and Easton Ave needs to continue to improve, update, and become the entertainment and food "heart" of the NB campus. If Easton Ave from the train station to the park were updated, improved, cleaned up, and attractive we would have something really really special. I don't think its terribly far off either. Just need to get the right people involved who care.

To really make it work, there needs to be a public parking component. Visitors of the residents, and customers of the potential businesses here, and up and down Easton, need places to park. IMO, that's the biggest problem in the area. There is VERY limited places to park throughout the Easton Ave corridor. the side streets are all residential only areas. Only businesses that cater to walk up traffic can survive. It will be another hair salon another pizza place and another convenience store. I challenge anyone to find a parking spot near Hansel....

 

[Jonny S]

Couldn't disagree more. Parking is a tax on everyone who doesn't park. The parking requirements in NB are overtly strict. We need to let the market dictate how much parking there is. We need transit oriented development, and far fewer cars. The idea is that people move to and live in New Brunswick, not bring in visitors from the suburbs.

 

[RUSK97]

While this is undoubtedly a good thing for NB, I wish it could've been built on top of a couple of derelict houses rather than the existing medical offices. That medical office is well maintained and not the eyesore many of the surrounding residences are.

 

[Korbermeister]

While this is undoubtedly a good thing for NB, I wish it could've been built on top of a couple of derelict houses rather than the existing medical offices. That medical office is well maintained and not the eyesore many of the surrounding residences are.

it's an architectural eyesore. it's style is more suited to rt. 27 in Kendall Park, where you have random office buildings with parking lots interspersed between strip malls and residential developments; total consistent inconsistency, as far as design goes, all along that road. in Brunswick, the building sits at a crossroad across from a church and 2 residential buildings, none of which are fenced off from pedestrians like the office building, and all have their fronts facing the main street (hamilton or easton) unlike the aforementioned office building, whose front faces their parking lot. bad design for that space

 

[Upstream]

Couldn't disagree more. Parking is a tax on everyone who doesn't park. The parking requirements in NB are overtly strict. We need to let the market dictate how much parking there is. We need transit oriented development, and far fewer cars. The idea is that people move to and live in New Brunswick, not bring in visitors from the suburbs.

I think New Brunswick is too small of a city to expect residents (other than students) to be able to live and thrive there without a car.

 

[SF88]

Couldn't disagree more. Parking is a tax on everyone who doesn't park. The parking requirements in NB are overtly strict. We need to let the market dictate how much parking there is. We need transit oriented development, and far fewer cars. The idea is that people move to and live in New Brunswick, not bring in visitors from the suburbs.

So by that rational, Somerville, Metuchen, Princeton, Red Bank, Asbury should all shut their downtowns down? Cities and towns don't want visitors? Shut down the theater area? Isn't a downtown, or mixed use neighborhood what attracts people to live in an urban or semi-urban area? Aren't the business ratables what keeps the taxes lower for the residents?

Ask any business owner if there's enough parking in that area. How many national chains are banging down New Brunswick's door to get in? The Yard is basically dropped in the center of the campus and there's still a vacancy. I know national chains declined because of lack of parking. Students are only there 7 months a year.

When trying to patronize businesses in that area and there simply is no parking....the market is screaming for more parking. How should the city go about attracting a well rounded business community.....with no parking.......?

 

[Korbermeister]

I think New Brunswick is too small of a city to expect residents (other than students) to be able to live and thrive there without a car.

They're not being asked to do the impossible or or even the undesirable really. Have we given up completely on the idea of our the younger generations overcoming inconveniences completely? Of you attend school in a city, some things should be expected, parking hassles being one of them

 

[Upstream]

They're not being asked to do the impossible or or even the undesirable really. Have we given up completely on the idea of our the younger generations overcoming inconveniences completely? Of you attend school in a city, some things should be expected, parking hassles being one of them

If this building is strictly students, I agree that ample parking is not needed. But if it is for non-students, then parking is important.

[In edit : I guess I should have reread the original article. This is being built as student housing, so parking is not critical.]

 

[RUForex]

I wish they would put my avatar back up in that spot... :cry:

http://www.nytimes.com/1990/06/20/n...-after-fires-damage-rutgers-fraternities.html

 

[Tango Two]

Under the agreement, 78 Easton Ave. Urban Renewal LLC, a subsidiary of the Missouri-based Collegiate Development Group of St. Louis, Mo, will pay $1.1 million annually in lieu of taxes over the course of 30 years, said city spokesperson Jennifer Bradshaw.



https://www.tapinto.net/towns/new-b...y-council-paves-way-for-easton-ave-redevelopm

 

[rufancoe00]

This is on the corner of hamilton and easton? Isn't that building less than 20yrs old ?

 

[NotInRHouse]

It's replacing the medical offices, not Easton Ave apts.

Great news!

 

[RUForex]

I

This is on the corner of hamilton and easton? Isn't that building less than 20yrs old ?

It's probably a touch older than that, however it went up just a few years after our beloved FIJI house burned down in 1990. Ironically, the medical building specializes in plastic surgery..

 

[Korbermeister]

This is on the corner of hamilton and easton? Isn't that building less than 20yrs old ?

The ugly, nondescript, waste of space in a prime location building, yes it is

 

[Scarlet Craig]

Cool

 

[ScarletKid2008]

This is great news .. Easton Ave needs re-development.
Now just need to improve the block closer to Somerset! Vacant lots and buildings down there need work.

 

[Tango Two]

 

[Tango Two]

 

[RUSK97]

Odd the way things work out. There are so many ratholes along Easton Avenue, yet, if I recall correctly, the two houses that were just demo'd were among the nicer houses along those few blocks. That and the medical offices which were underutilized, but far from eyesore status. So we knock down the decent-looking stuff and leave the decrepit stuff...to replace tax-yielding properties with non-tax-yielding properties for 30 years. Something seems amiss there.

 

[Leonard23]

Odd the way things work out. There are so many ratholes along Easton Avenue, yet, if I recall correctly, the two houses that were just demo'd were among the nicer houses along those few blocks. That and the medical offices which were underutilized, but far from eyesore status. So we knock down the decent-looking stuff and leave the decrepit stuff...to replace tax-yielding properties with non-tax-yielding properties for 30 years. Something seems amiss there.

Those properties weren't paying anywhere near $1.1M or more in taxes per year. 78 Easton's taxes were $50,598.77. To say the new property is non-tax yielding is inaccurate, as NB is collecting $1.1M in Payments In Lieu of Taxes (PILOT) each year for 30 years. This is a windfall for NB and encourages economic investment.

 

[RUSK97]

Those properties weren't paying anywhere near $1.1M or more in taxes per year. 78 Easton's taxes were $50,598.77. To say the new property is non-tax yielding is inaccurate, as NB is collecting $1.1M in Payments In Lieu of Taxes (PILOT) each year for 30 years. This is a windfall for NB and encourages economic investment.

Can you shed more light on PILOT?

 

[RUskoolie]

Odd the way things work out. There are so many ratholes along Easton Avenue, yet, if I recall correctly, the two houses that were just demo'd were among the nicer houses along those few blocks. That and the medical offices which were underutilized, but far from eyesore status. So we knock down the decent-looking stuff and leave the decrepit stuff...to replace tax-yielding properties with non-tax-yielding properties for 30 years. Something seems amiss there.

The two properties on Easton were total dumps. The medical office is not a remotely good use for the space, similar to the grease truck lots 5 years ago. Between those 3 properties that were bulldozed the city collected 50-60k in taxes a year, you think that is a bad deal for the city? I hope that's a joke.

Those properties weren't paying anywhere near $1.1M or more in taxes per year. 78 Easton's taxes were $50,598.77. To say the new property is non-tax yielding is inaccurate, as NB is collecting $1.1M in Payments In Lieu of Taxes (PILOT) each year for 30 years. This is a windfall for NB and encourages economic investment.

Agreed. I like Charlie but I hate the way he twists things he frankly doesn't understand. It's a student housing building, of course there are not "affordable units".

Can you shed more light on PILOT?

Instead of getting drilled in the rear end by certain municipalities when you build a new gigantic structure (i.e. insane property taxes) PILOT encourages developers to actually take risk and stress in developing an area (typically a poor area) by allowing them to pay an agreed upon property tax amount over X period of years. It's the only way to build in some areas.

Regarding this building, I think they have officially over built student housing. They're adding nearly 1300-1500 beds in the next 3 years between this building and buildings on New St. All at $1000+ a bed. There are simply not enough students at Rutgers who will pay that IMO. I think the developers will get hurt.

 

[RUSK97]

The two properties on Easton were total dumps. The medical office is not a remotely good use for the space, similar to the grease truck lots 5 years ago. Between those 3 properties that were bulldozed the city collected 50-60k in taxes a year, you think that is a bad deal for the city? I hope that's a joke.



Agreed. I like Charlie but I hate the way he twists things he frankly doesn't understand. It's a student housing building, of course there are not "affordable units".



Instead of getting drilled in the rear end by certain municipalities when you build a new gigantic structure (i.e. insane property taxes) PILOT encourages developers to actually take risk and stress in developing an area (typically a poor area) by allowing them to pay an agreed upon property tax amount over X period of years. It's the only way to build in some areas.

Regarding this building, I think they have officially over built student housing. They're adding nearly 1300-1500 beds in the next 3 years between this building and buildings on New St. All at $1000+ a bed. There are simply not enough students at Rutgers who will pay that IMO. I think the developers will get hurt.

Thanks for the explanation of PILOT. I just hadn’t understood the situation initially by reading the article. The message seemed almost that NB was getting nothing from this development for 30 years. This changes everything.

 

[RUskoolie]

Thanks for the explanation of PILOT. I just hadn’t understood the situation initially by reading the article. The message seemed almost that NB was getting nothing from this development for 30 years. This changes everything.

That's what Charlie wants people to think (and I don't know why). In reality, the city gets a major tax windfall and we get a highest and best use of the space. Now how the space is actually operated and it's success is a different discussion.

 

[Tango Two]

Before:



https://www.google.com/maps/@40.498...4!1sI0S-3HVaBrKTyx8CCz9QVA!2e0!7i13312!8i6656

 

[NotInRHouse]

Is the plan for student housing, luxury housing, or luxury student housing?

 

[Scarlet Jerry]

New Brunswick needs to recognize that the Easton Ave corridor around Stuff Yer Face could be a focus point of the city. The area needs new sidewalks, "classic" street lights, municipal cleaning every weekend, and merchants who will agree to clean the area in front of their stores every day.

-Scarlet Jerry

 

[ScarletKid2008]

New Brunswick needs to recognize that the Easton Ave corridor around Stuff Yer Face could be a focus point of the city. The area needs new sidewalks, "classic" street lights, municipal cleaning every weekend, and merchants who will agree to clean the area in front of their stores every day.

-Scarlet Jerry

Yes, Yes, and YES! @SF88 , myself, and others have been saying this for a long long time. It does not even require a significant amount of money to do this (which is almost exactly as we have suggested). Simply perform the municipal duties and have a focus on keeping that section clean, updated, and appealing.

 

[RUskoolie]

Is the plan for student housing, luxury housing, or luxury student housing?

All the student housing developers are building is luxury student housing. They cannot make money any other way. They're overbuilding it though IMO.

 

[SF88]

The cost to acquire enough land for these buildings can run into the millions. The cost to build these buildings is several hundred dollars/sq ft. The cost just to "maybe" get your approvals will cost hundreds of thousands of dollars. After all that, the City of New Brunswick will shake you down for roughly 18-20% of your gross rental income in taxes. Yes, this building with have lots or beds and charge lots of $$$ in rent, but they're paying 1.1 MILLION, PER YEAR, in taxes. Any bump in the road, lower than anticipated demand etc can put you upside down on the mortgage. If done properly, and land costs kept lower from long ago purchases, you can make $$, but not a slam dunk

 

[NotInRHouse]

All the student housing developers are building is luxury student housing. They cannot make money any other way. They're overbuilding it though IMO.

What's the premium relative to the dorms/Easton Ave Apts? When I was in school some off campus housing was cheaper. Also, when you consider the meal plans you have to buy for some dorms, it's a real bargain. Not sure how the new places compare.

 

[Ole Cabbagehead]

I wonder if this winds up hurting the school. The school has built a ton of new housing, and now the developers are doing the same. If students continue to prefer of-campus housing to on-campus, the surplus is going to hurt the school, not the developers.

 

[SF88]

I wonder if this winds up hurting the school. The school has built a ton of new housing, and now the developers are doing the same. If students continue to prefer of-campus housing to on-campus, the surplus is going to hurt the school, not the developers.

In the end, it's always about $$$. If Rutgers sees empty beds in it's buildings, they will require sophomores to live on campus. Ohio State does it, as do many colleges. Kids want to live at The Yard and new Livi apartments. No one wants to live in Henderson-Richardson-Silvers apartments. Rutgers built a lot of shitty housing, on the cheap decades ago. Rutgers needs to tear down some old dorms/apt and build modern facilities with 2018 amenities.

The people that will lose, are the owners of houses out on Louis-Central-Hartwell-Plum-Delafield. Those streets are turning hispanic and section 8, as the college kids condense closer to College Ave