Madison Ready for GVR Redevelopment Bids
Officials hope to select winning proposal from five finalists by the end of the year.
The Green Village Road Redevelopment Committee is ready to request final proposals from a narrowed-down field of five developers, and the committee hopes to select the winning proposal by the end of the year, officials announced Friday.
The finalist candidates will be invited to submit their offers to buy the five-acre Green Village Road School property and their plans for developing it.
The developers are
- Roseland Property Group of Short Hills
- LCor Incorporated of New York City
- Continental Properties of Chatham
- The KRE Group of Bridgewater
- AvalonBay Communities of Iselin
Fifteen developers submitted qualifications documents. That field was narrowed to seven, and then the five.
The redevelopment committee is comprised of the mayor, Borough Council members, borough officials, Board of Education members and school district officials who have been meeting over the past two years.
At a meeting Thursday, the school board and council completed the details of the Request for Proposal, which is one of the final steps in selling the property, Mayor Bob Conley and Board of Education President Lisa Ellis said in a joint statement.
“Our goal in selling the property has always been to maximize both the short term and long term benefits to the community and to ensure that the development is something we are all proud of for years to come," Ellis said.
Both boards previously agreed to sell the property through the Local Redevelopment and Housing Law to give the boards more control of the design of the buildings, ensure the development occurs in a timely fashion, and increase the sale price of the property, Ellis said.
Conley said the list of interested companies is impressive and all of them mentioned how great the location is near both the Madison Train Station and downtown.
"We hope to have a developer selected by the end of the year," Conley said. “I don’t think anywhere in the state of NJ there has been a Board of Education and Council who have worked more closely together on a such an important project for the community.”
Bill Kingston
7:46 pm on Friday, October 12, 2012
It's about time! Will be nice to get the property on the tax rolls as a substantial contributor. However, let's see where the sale price money goes and any other on-going fees between Borough entities. Has any of this been cleary decided yet? This money trail needs be followed closely. Let's not forget how the BOE acquired this property (cost) and what comes back to the Borough. Would be interested in any details if anyone has them. Thanks!
The Good Guy
9:08 am on Saturday, October 13, 2012
Why don't they just build another Walgreens or maybe a Target or another low quality store where all their products are made cheaply in China.
It's irrelevant that hundreds of our Madison children rely on those fields for Soccer and softball. And when it snows, all the kids go there there to go sledding. Once they cover that lawn with a big building, that will be the end of it.
Instead of doing the right thing, They're just using it to make money - The American way.
TiredofMadisonPolitics
9:48 am on Saturday, October 13, 2012
Nick,
I'm not sure how many kids rely on those fields any more, many programs are now using the MRC, Rosedale Fields, etc.
As for the sledding, Bayley-Ellard is still a great spot, as is the Madison Golf Club, although they frown upon it.
Instead of complaining about what the "right" thing is to do, get invloved if you feel your elected officials aren't doing the "right" thing. There were two BC and two BOE positions up for election this year.
my2cents
1:58 pm on Saturday, October 13, 2012
So if they make it condos, where are we going to put all those kids in our current schools???