Search Results for: "downtown investors"

RED BANK: FLURRY OF NEW SHOP APPROVALS

Soul Focus plans to open a 7,300-square-foot wellness center on the first floor of 73 Broad Street. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

retail churn smallAn art gallery/podcast studio, a toy store, a camera shop, a pet-treats retailer, a sizable wellness center…

Downtown Red Bank may see the debut of those businesses and more in coming months, based on a flurry of approvals by the borough planning office in recent weeks. Read all about them in this edition of redbankgreen‘s Retail Churn.

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RED BANK: FUNDRAISER FLOATS RESCUE BOAT

Red Bank Marine 1 in transit recently for installation of a new motor. (RBFD photo. Click to enlarge.)

Press release from the Red Bank Volunteer Fire Department

red bank, nj, done good,Thanks to the generous support of over 20 local businesses and nearly 80 individual contributors, the Red Bank Fire Department Marine 1 Fundraiser is a success. While contributions are still needed for the installation of the new fire pump, a new motor has already been installed, the GPS unit is ordered, and wiring is underway. The membership of the department continue to go above the call of duty in terms of contributing their time and are grateful for the public support – every contribution was noticed and appreciated.

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RED BANK: CENTURY HOUSE SPARED

Downtown Investors has dropped its plans to demolish the house at 26 Wallace Street for parking. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

hot topic red bank njA century house targeted for demolition in downtown Red Bank has been spared the wrecking ball, redbankgreen has learned.

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RED BANK: HPC SPLITS OVER CENTURY HOUSE

Downtown Investors plans to demolish the house at 26 Wallace Street for parking. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

hot topic red bank njMembers of Red Bank’s Historic Preservation Commission split Wednesday night over its next steps regarding a developer’s plan to demolish a century house for parking.

The HPC also approved remodeling plans for a building at a key downtown intersection after the owner revised plans that were rejected a month ago.

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RED BANK: HOME’S HISTORIC VALUE DISPUTED

Downtown Investors plans to demolish the house at 26 Wallace Street to create a parking lot. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

hot topic red bank njHistoric-value claims about a century house targeted for demolition in downtown Red Bank are “in error,” a developer’s land-use expert told the planning board Monday night.

Members of the Historic Preservation Commission were itching to differ.

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RED BANK: BUILDING WOULD FOLLOW NEW LOT

A rendering of the office building Downtown Investors wants to erect at 21 Linden Place. (Image by Stephen J. Gassert Design. Click to enlarge.)

By JOHN T. WARD

hot topic red bank njA Red Bank developer hopes to expand its holdings by erecting a new office building downtown.

But first, Downtown Investors says it needs planning board approval to demolish a house estimated to be 132 years old in order to create parking.

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RED BANK: NO DECISION ON HOUSE RAZING

The house at 26 Wallace Street, believed to have been built in 1889, would be razed to expand a parking lot under a developer’s proposal. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

hot topic red bank njA decision on a developer’s plan to raze a 132-year-old house in downtown Red Bank for parking was postponed Thursday night.

The plan may offer the first significant test of powers granted to the Historic Preservation Commission three years ago.

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RED BANK: PRESERVATIONISTS FLEX MUSCLE

The house at 26 Wallace Street, believed to have been built in 1889, would be razed to expand a parking lot under a developer’s proposal. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

hot topic red bank njAnticipating possible challenges to its authority on two fronts, Red Bank’s Historic Preservation Commission was in a muscle-flexing posture Wednesday night.

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RED BANK: DEMOLITION SLATED FOR PARKING

Downtown Investors plans to raze the house at 26 Wallace Street. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

A Red Bank developer plans to demolish a downtown house to expand a parking lot, with an eye toward future building.

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RED BANK: ‘STASH’ SIGNAGE UP FOR REVIEW

Filmmaker Kevin Smith  is in the process of relocating his store to 65 Broad Street, seen above in 2014. Below, illustrations filed with the HPC application. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

Red Bank’s Historic Preservation Commission is slated to review plans for signage on three Broad Street businesses Wednesday night: a new pizzeria, a new juice bar, and the new home of Jay and Silent Bob’s Secret Stash.

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RED BANK: COUNCIL DROPS REVERSE APPEALS

red bank nj oceanfirst hqThe OceanFirst Bank headquarters was the subject of a reverse appeal case settled Wednesday. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

hot topic red bank njBombarded by criticism from the business community, the Red Bank council on Wednesday dropped a plan to pursue a new round of  “reverse appeals” against commercial properties it believed to be undertaxed.

But first, the council approved the settlement of an older reverse appeal that will boost the taxable value of a downtown building by 69 percent over three years. And battles over cases filed in 2018 continue.

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RED BANK: ‘REVERSE’ TAX APPEALS ON AGENDA

8 east front st. red bank njA law firm hired by the borough says 8 East Front Street, which sold last year for $5.68 million, is improperly assessed at just under $3 million. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

red bank taxesA year after authorizing a law firm to go after owners of properties believed to be undertaxed, the Red Bank council is expected to renew its “aggressive” approach this week.
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RED BANK: PARKING GRIPES, IDEAS ECHOED

Parking consultants Carrie Krasnow and Brian Bartholomew listen to restaurateur George Lyristis at the Red Bank Middle School Monday night. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

Like visitors circling the White Street lot in search of a spot, Red Bank merchants and residents took another spin at solving downtown parking issues Monday night.

In the same auditorium where a similar forum was held 14 months ago, about 50 participants showed up at the borough middle school to advocate for improvements, many of them echoes of long-standing complaints and suggestions.

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RED BANK: TOUTING A ‘SIMPLE’ PARKING FIX

Downtown property owner John Bowers hired an architect to show the borough what it might build without involving a private developer. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

Instead of trying to entice a private developer with high-profit-margin sweeteners like apartments and retail space, what if Red Bank addressed its downtown parking problem simply by building a “pure” garage itself?

That’s what landlord John Bowers wants to know, and he’s on a campaign to head off the borough’s White Street redevelopment effort before it leads both taxpayers and merchants over a cliff.

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RED BANK: DONATED HOUSE COMING DOWN

rb 27 linden 012417doug-cavanaughTwo years after the death of its owner, the house at 27 Linden Place in Red Bank is slated for demolition this week.

Doug Cavanaugh, seen at right in 2009 painting a hitching post he installed outside the house, left the property in his will to Saint James Roman Catholic Church, whose schools he’d attended.

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RED BANK: ‘COMPROMISE’ PARKING HIKE OK’D

rb parking 051116 1Fees for parking in downtown lots would double, to $1 per hour, while metered spots on the street would rise 50 percent, to $1.50 an hour. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

LicPlate1Red Bank’s parking fees are going up.

The borough council approved rate increases Wednesday night, billing the action as a “compromise” with downtown business owners.

Still, merchants decried the hikes, which they said will further alienate potential visitors already turned off by metering, aggressive enforcement and costly tickets. Read More »

RED BANK: STEEP PARKING FEE HIKE PROPOSED

rb parking 041416 2Fees for parking in downtown lots would double, while metered spots on the street would see a 50-percent increase. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

taxesRed Bank’s council laid two controversial proposals on the table Wednesday night:

• a budget that debuts with a 5.5-percent property-tax increase

• and a plan to soften the blow to taxpayers with a sharp increase in parking fees.

The backlash to the parking plan was immediate, both in the audience and on the governing body’s dais.

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RED BANK: AFTER 26 YEARS, BARR ZONES OUT

donna smith barr 042815 2Zoning officer Donna Smith Barr leaves the job this week after 26 years. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

people-in-the-newsThe cliches compete: it’s tempting to say Donna Smith Barr has had a front-row seat on Red Bank’s two-decade-long bounceback from “Dead Bank” to today’s bustling burg. But it’s probably more accurate to say she’s been the gatekeeper.

Whether you wanted to put a deck on your house or turn a downtown store into a restaurant, Barr’s office has been the first stop at borough hall. And if she spoke or wrote the word “variance” in response, it probably wasn’t your last, as it would mean the time and expense of making one’s case before the zoning or planning board.

“I’m glad I don’t have to tell people they need variances anymore,” Barr told redbankgreen Tuesday. A single instance is one thing, “but when you do it for 26 years, that’s enough.”

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RED BANK: A GATHERING OF MAYORS

mayorsThe three living former mayors of Red Bank — Benedict Nicosia, Michael Arnone and Ed McKenna — join Mayor Pasquale Menna as guests of honor at the first annual Mayor’s Charity Ball, going on May 1st.

Press release from Red Bank Mayor’s Ball Committee

Mayor Pat Menna is honoring three of his predecessors — and inviting the community — to the first annual Red Bank Mayor’s Charity Ball, scheduled for May 1st at The Oyster Point Hotel.

“Our committee is planning a great event and a fun evening, celebrating all things Red Bank,” noted the mayor.  “We are fortunate to have three former mayors — Judge Benedict Nicosia, Assemblyman Michael Arnone and Mayor Edward McKenna — still here in the area, and we will be honoring them for their public service.”

Other honorees include Red Bank RiverCenter, which will receive the Outstanding Community Service Award; the Two River Theater, the Cultural and Arts Award; Gerry Eisner, the Historical Legacy Award; Downtown Investors, the Urban Development Award; and Seals Eastern, the Manufacturing and Technology Award.

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RETAIL CHURN: EAT, WEAR AND INVEST

jim lin 110314Jim Lin, owner of Oriental Empire, said customers of his Ocean Township restaurant urged him to open one in Red Bank. (Click to enlarge)

By JOHN T. WARD

Rcsm2_010508In this edition of redbankgreen‘s Retail Churn, we’ve got details on these recent developments in ever-churning downtown Red Bank:

• Oriental Empire, a restaurant offering a mix of Asian cuisines, opened last month at 54 English Plaza.

• A former sales associate at the recently departed Nirvana is opening her own women’s clothing store on Broad Street.

• A restaurant called Hansel & Griddle plans to open on West Front Street.

• A nail salon changes hands and rebrands.

• The space formerly occupied by office supply retailer Staples is turning into office space for a securities brokerage.

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BANK TO DEPOSIT ITSELF ON BROAD STREET

OceanFirst Bank will take space in a building that’s been a supermarket, a five-and-dime and home to a number of financial services companies over its 92-year history. (Click to enlarge)

By DANIELLE TEPPER

Rcsm2_010508In recent decades, the white stone building at 73 Broad Street has been a home to many financial service companies: Provident Savings Bank, Prudential Securities, then Wachovia Securities, and most recently, Wells Fargo Bank.

The pattern resumes this spring with the expected arrival of OceanFirst Bank.

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RED BANK: BROKERS TO THE ‘BRIDGE’

The ‘bridge‘ is in. Following a six-month construction sprint, securities broker Morgan Stanley Smith Barney completed the consolidation of its Red Bank offices into a single location at Broad Street and Linden Place this week, said Jay Herman, a principal in Downtown Investors, which owns the property. The expanded space includes a suspended structure linking two existing buildings, as seen at right last January. (Click to enlarge)

DOWNTOWN RED BANK COMES OFF THE ROPES

The recent opening of Lucki Clover, above, in a Broad Street space vacated last September, is seen as one of many indicators of a strengthening comeback.  (Click to enlarge)

By JOHN T. WARD

Rcsm2_010508Without question, the losses have been significant.

Over the past six months, as the global, national and regional economies have struggled to emerge from the wreckage of the 2008 credit meltdown, Red Bank’s retail market has continued to absorb hard-to-shake-off business departures.

Primas Home Cafe. Willy’s Cheesesteaks. Soapmarket. Later this month, Surray Luggage, a Broad Street fixture, will hold a liquidation sale.

But more so than in the recent past, the downtown real estate market has been marked by two noteworthy trends: faster refilling of storefronts, and the end of several key, longtime vacancies.

What’s it all add up to? In a word, recovery, says at least one downtown Churn watcher.

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ENTER AT YOUR OWN RISK

A parking gate in Red Bank goes a little nutty Tuesday morning. The gate is at a 23-car parking lot at the corner of Hudson Avenue and Linden Place that’s owned by the borough but leased to Downtown Investors for use by employees of the nearby Smith Barney complex. (Click to enlarge)