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Bergen County Real Estate News : April 2007 – week 4

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

Bergen County: reduction of population
Teaneck: Housing replaced by chemical factory
Debate over construction in Hackensack
Englewood conducts Health fair
Fire in Closter


Bergen County: reduction of population

Bergen County and other parts of New Jersey population of is reducing over the years. Both for the real estate agents and residents who are on the lookout for good housing projects, it is time to see and reflect at the reasons why this could be happening.

Statistics by the US Census bureau reveal that in 1950, New Jersey ranked eighth in population and comprised of six of the largest urban areas in North America. However over the years, when the population needs a fillip, it is seen to be steadying down to a figure of 21%, mainly after September 11, 2001.

One reason for this exodus of people to other regions could be a high cost of living. With substantial amounts of state and local debts and taxes many find it difficult to fuel these raises. With a larger number of people leaving New Jersey, the tax burden increases on the people living there.

Another reason why many people have been leaving could be the number of colleges and quality of education. If the education offered in New Jersey were good, many would opt to stay in its towns. Probably it is time to attract people to come and stay in New Jersey through these measures. Another way could be to promote renewable energy sources like solar panels that not only reduce the stress on power networks but also help residents with incentives and rebates.


Teaneck: Housing replaced by chemical factory

Holuba realty, the development company that had proposed a housing complex in Teaneck near the Herrick Park has now changed its proposal plans. The 196-unit housing complex proposal is now being replaced by the proposal for a chemical factory. This chemical factory would prepare detergents and cleaning solvents in collaboration with Stanson Chemicals and another chemical factory. Also, the current proposal includes an additional 54,000 sq ft of industrial space, which triples the land initially proposed.

This change in plans came up after various residents in the Teaneck neighborhood complained that a housing complex could crowd the area. After many protested and various zoning requirements were found lacking, the developers perceived that a change in plan would be the best solution. The site is zoned for chemical-industrial usage and hence the developers perceive that zoning changes would not be required. The residents, who had initially opposed the housing complex, are now overwhelmed by the potential of the factory and hope that the project does not affect the neighborhood. However, the ‘for sale’ sign is up on the property for a price of $25 million. Officials state the sign would be up till construction commences.


Debate over construction in Hackensack

A new issue in the court of Hackensack is regarding the development of a plot of land in the neighborhood. Peter Tucci, owner of approximately ten lots in the Southern part of the neighborhood has been accused of keeping most of the land undeveloped. The planning board and the city council have marked these areas, as lands that need redevelopment.

Proposals for redevelopment have been called from developers, which if approved will lead to obtaining the land through the means of eminent domain. One developer, Fishman Real Estate Enterprises, has proposed the development of approximately 200 residential units, retail space and a hotel in the area.

However Peter Tucci is displeased with the way things are progressing and has filed a case in the court accusing that the Planning Board has not followed proper procedure. Additionally he has submitted plans for a 122 room hotel and retail complex. Tucci, who has been criticized for not developing the properties he amasses, stated that he wanted to develop his land his way. The case has been adjourned till May 17th, 2007. In the meantime the court has asked Tucci and city attorneys to reach a suitable agreement.


Englewood conducts Health fair

Englewood conducted its tenth annual health fair after much planning. Designed to benefit the people living in Englewood and neighboring towns, this annual fair comprised of free health screenings and information on topics like ageing, retirement planning, HIV/AIDS, women’s health, organ donation, mental health, cancer and community violence to name a few. These are important factors that touch the lives of many at some point of time in life.

Many attended the fair and availed the various services that were offered. Besides health advice, the fair also offered information on the various hospitals, clinics and social service agencies in the area. Addresses, contact details and phone numbers could be taken. The event was conducted at the Dwight Morrow High School where it took place from 4pm onwards on Saturday, April 28th, 2007.


Fire in Closter

As a Closter factory burned with huge flames spewing embers on the neighborhood, late night employees and many residents from the neighboring areas were evacuated. Approximately a dozen residents were evacuated from their homes, as firefighters feared that propane tanks present in the building might explode and cause injuries.

The fire began on Friday, 2:20 am and members of the Weyerhaeuser Co. contacted 911 to saying that fire had erupted in the shipping container. Firefighters from eight to ten towns reached the site and said that it was a four alarm plus fire, which had caused the rear end of the building to collapse. Approximately 30 employees noted to be working at the night shift were evacuated immediately from the building. Nobody was injured as action was taken on time. Flames were huge and even with the rain; it took approximately ten hours to control the fire. Once the site cools down, the arson squad of the county is expected to come and determine the cause of the fire.


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