EDA: 8 municipalities receive $ 50,000 in grants as part of 21st century redevelopment program
Eight communities were approved for grants of $ 50,000 to help them create plans for redeveloping, reallocating or regreening abandoned assets, such as vacant and underused commercial or office complexes, which have a major impact on local economic conditions, announced the board of directors of the New Jersey Economic Development Authority. Wednesday.
In other words, eight municipalities – Atlantic City, Jersey City, Millville, Passaic, Pemberton Township, Raritan Borough, White Township, and Willingboro Township – are receiving help in their efforts to improve business in their cities.
About the program
The 21st Century Redevelopment Program was created in October 2018 in response to the growing number of stranded assets in New Jersey communities and their impact on their hosts. Business, demographic and economic trends have resulted in several closures and long-term vacancies of large suburban office complexes and shopping centers. The Economic Development Authority suspended the program in April 2020 due to emergency prevention measures related to COVID-19 and reopened applications in May 2021.
The grants, totaling $ 400,000, are the first to be awarded under the 21st Century redevelopment program.
EDA CEO Tim Sullivan said the program could have a real impact.
âCOVID-19 has ushered in a whole new approach to how we use space within our communities and downtown areas,â he said. “The creative ideas our winners have for invigorating their stranded assets reflect this new mindset, and each aligns with Governor Phil Murphy’s goal of emerging from the pandemic in a fair and equitable manner.”
Here’s a look at the awards and how they will help the following communities strategically plan their redevelopment:
- City of Atlantic City: Atlantic City, in conjunction with the Casino Reinvestment Development Authority, will draft a site redevelopment plan for the Plaza Hotel, a 1980s casino complex and adjacent properties. The plan will aim to create a development corridor that connects the convention center and a new commercial development to the boardwalk and the beach.
- City of Jersey City: Jersey City will fund planning for the redevelopment of a former bank building in the Journal Square shopping district. The planning process will provide a plan which includes a draft redevelopment plan, market feasibility analysis, retail market analysis, draft owner participation agreement / owner participation rules, redevelopment plan final and draft ordinances to adopt the redevelopment plan. The goal of reallocation is to maximize economic growth in troubled neighborhoods.
- City of Millville: Millville will use funds from the 21st Century Redevelopment Grant to develop a plan and roadmap for valuing and addressing distressed retail and commercial assets in the Glasstown Arts District. Struggling assets both hampered efforts to create jobs in the creative economy and impacted local rates for several years.
- Passaic County: Passaic County, in conjunction with Wayne Township, will focus on a 193-acre site that once housed the Toys R Us global headquarters. In partnership with the township, William Paterson University Small Business Development Center, Point View Wayne Properties and Dobco, the county, along with its partners, will hire a planning consultant to provide an adaptive reuse plan focused on the adaptive reuse of business structures.
- Township of Pemberton: The Township of Pemberton will fund a market study focused on the redevelopment of the former Burlington County College – Pemberton Campus. The study will provide recommendations for the development of the site with a focus on community needs and market demands.
- Raritan district: Raritan will conduct a preliminary investigation at the Raritan Mall site. The investigation will prepare the ground for the authorship of a redevelopment plan for an area requiring redevelopment, will provide information that will help with the proposed redevelopment studies and preliminary plans that will allow borough representatives to re-evaluate the municipal zoning. and planning ordinances to promote the adaptive reuse of the shopping center site.
- Canton of Blanc: White Township will analyze the long-term viability and economic sustainability of White Township Plaza, a 1960s shopping center with an abandoned supermarket that was historically important to the township. The analysis and guidance will combine a business viability study, start-up efforts to create an area plan requiring redevelopment, and a community engagement plan for the future use of the site.
- Township of Willingboro: The Township of Willingboro will conduct a site scan of the Willingboro Grand Marketplace, a former 1970s shopping complex in a major trade corridor, with the goal of identifying sustainable, community-driven reuse. The analysis will include a marketing study, resident and stakeholder surveys, an assessment of potential re-uses, an economic feasibility analysis and design ideas for the property, as well as modifications to the township redevelopment plan.