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The plans include dividing the 41.2 acres into two lots and result in the developer building a new signalized intersection from Porete Avenue to the Belleville Turnpike at no cost to the borough.
“We have kept our promise to increase our tax base, which has been in trouble for the last 10 years,” said Mayor Joe Bianchi.
“We have not seen new development in this town for a long, long time. More importantly, it is a ratable that has a minimum impact on municipal services and that maximizes the tax return to the town.”
The 38 Porete Ave. location is on the former Bethlehem steel property and is within the Porete Avenue/BCUA Redevelopment Area. The vacant property is adjacent to the Harrison Kingsland railroad line and the Bayonne and Jersey City Water supply.
Building a long-missing intersection between Porete Avenue and the Belleville Turnpike will provide access to all the companies in that area.
This key transportation element will eliminate the dangerous ingress and egress along Jersey City Water’s right-of-way near Schuyler Avenue by the CVS.
“The fact that the developer was willing to reconfigure his project after we requested their assistance in building the intersection to give access to all of Porete Avenue tenants was a major concession, and we appreciate their help,” said Council President Richard Hughes.
It will take approximately 14.5 months to complete the construction. The borough will hold a job fair for the expected 225 jobs that will be created.
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