When a developer backs out of an apartment project in Hackensack’s growing downtown, finding a new one isn’t too hard.
Legacy Development Group will go before the local planning board in the spring with an amended proposal for 359 Main Street in the New Jersey community, NorthJersey.com reported. If its plans are approved, the buildings at 359 Main Street and 375 Main Street will be razed to make way for Legacy’s project.
The development, at the corner of Main and Passaic streets, wasn’t always in Legacy’s hands. In June, the initial developer of the property canceled its contract, leaving a void in Hackensack’s redevelopment dreams. Legacy stepped in and purchased the parcel for an undisclosed sum.
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Abigail Polizois, a partner at the firm, praised the transit-oriented community, noting it was more manageable than the likes of Jersey City and other larger cities, the publication reported.
The developer left the number of units at 110, but will go with a more traditional parking arrangement. The original plan called for a five-story building with parking at the center of each floor. Legacy would put all 156 parking spots on the ground floor, behind 4,000 square feet of retail.
Additionally, the 14 duplex townhouses planned for the site are now gone. Legacy will build apartments exclusively.
The site previously housed a bank building and an office building. Greater Alliance Federal Credit Union left the property in 2021.
Hackensack is in the midst of a development boom. A 268-unit project is being considered on Trinity Place, next to a firehouse and the Bergen County Islamic Center.
A six-story, 130-unit luxury project was pitched downtown, threatening to displace https://therealdeal.com/new-york/tristate/2022/02/17/in-hackensack-development-boom-resi-project-to-displace-local-stores/ several store owners. The former YMCA building was set to become a 14-story, 400-unit property before bankruptcy forced the developer to hold off on the project.
Overall, there are more than two dozen projects geared towards revitalizing downtown. To enhance Hackensack’s trendiness, some have taken to calling it “the Sack.”
— Holden Walter-Warner