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Bergen County Real Estate News : September 2007 – week 4

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

Alpine brings the richest homes in Bergen County
More affordable housing in Bergen County
Housing constructions in Highlands cause concern
Meeting on the issue of parking in Teaneck
Senior housing in Leonia


Alpine brings the richest homes in Bergen County

Alpine in Bergen County is not only home to popular people, it is also the town with the most expensive housing in Bergen County. Statistics reveal that the median price of a home in this region stands at $3.4 million, which is much above the county average. It is also reported that at this average, the town has the most expensive ZIP code, only after the Fisher Island at Miami Beach. The area continues to attract many despite its high prices because of its proximity to New York, its low taxes and most importantly its exclusive atmosphere. The town also offers zoning area of one to two acres which lures many buyers, as people seek space in crowded areas. The land here is very valuable report many officials and well located. Currently many houses are being renovated or completely revamped in Alpine as builders are replacing old homes with stylish houses that come with indoor pools, well equipped kitchens and various other new age facilities. Such houses sell for even higher. One such expensive deal was the sale of Frick estate in 2006 when 63 acre stretch of land in Alpine was purchased for $58 million by Richard Kurtz. Currently the land has taken the shape of over ten housing lots, with each priced at over a million.


More affordable housing in Bergen County

Approximately fourteen towns in Bergen County may now benefit from affordable housing, as borough officials now plan to bring over 3000 such units to these towns. The Meadowlands commission, set up for the purpose of bringing more affordable housing will now closely examine as to which kind of constructions can include low to moderate forms of housing for people. While plenty of plans are already in place for affordable housing, officials feel that there is still a large gap between demand and supply. Much needs to be done, and the Meadowlands commission will determine how. Different people from various groups reacted to the news differently. While builders and housing advocates stated that the regulations did not go far enough, many municipal leaders felt otherwise. A review process will soon begin whereby each application with a zoning certificate would be reviewed to study the extent of affordable housing that can be included. In order to ensure transparency in operations, all applications posted to the commission would be posted at http://meadowlands.state.nj.us/.


Housing constructions in Highlands cause concern

As per a new study, over ten thousand homes could potentially come up in the well preserved regions of Highlands. This came through when the Highlands Act was studied for its exemptions. As per these exemptions, single family homes can be constructed in the region if the landowner has ownership of the piece of land by August 10, 2004, time during which the law was enacted. Besides such parcels which account to over ten thousand homes, over twelve thousand houses could also come up in the outer ring planning region, if all goes as per the exemption. With privately owned land in the region totaling to over 350,000 acres, housing here can prove to be a large threat to drinking water sources in this region. In the current light of things, officials reflect that they would have to find means and develop programs that encourage landowners to either not exercise their right in the region or take up construction in a region that is more appropriate for development. With one third of the region already earmarked as open space, many experts also feel that the exemptions are not as many as have been specified. Also with construction of each home limited to only one acre, despite the size of the land parcel, housing should not cause many issues here.


Meeting on the issue of parking in Teaneck

A public meeting will be held in Teaneck for the residents to discuss the various issues on commuter parking through the town and on the installation of parking meters in business districts. The meeting is scheduled to be conducted on October 15, 2007 at the Richard Rodda Community center. All residents of Teaneck, owners of business and property are invited to attend the meeting which would be held from 7pm onwards on that day. The discussion aims to help people attending the meeting voice their views and concerns regarding the current situation of parking and discuss means to improvise on the current situations. More information on the meeting can be sought by dialing 201-837-4807 or by sending in an email to admin@teanecknjgov.org.


Senior housing in Leonia

If there was one thing that could bring out senior citizens on a cold night, it was the lure for cheap housing. Many seniors of Leonia were seen to camp out on the night of Tuesday, September 18, 2007, for securing cheap housing options. The Glenwood Retirement Housing has been offering 75 units of housing at subsidized rents for people over 62 years of age. Perhaps it was the unusual option of first come first served basis in Leonia that attracted many to spend the night out on benches. Renting options were on in the Leonia senior complex, and people reported that rents were federally subsidized for the one-bedroom houses, ranging from $25 to $1025 for every month. This is much lower than the average rents at Bergen County that stand at $1367 and are constantly rising. Also the demand for subsidized senior housing is on a constant rise with a wait of approximately four years. While the managers of the Leonia complex knew expected the large turnout of senior citizens, they reported that their camping out the entire night was quite unexpected. Besides the low rents, many also stated that the building was well maintained and situated in good proximity to transportation.


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