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$500m plan to extend Bayonne approved.


The $500 million redevelopment of the long-vacant Texaco waterfront site in Bayonne, NJ, inched forward this week as the city and developer signed a formal agreement.

The Bayonne Local Redevelopment Authority Noun 1. redevelopment authority - a public administrative unit given responsibility for the renovation of blighted urban areas
administrative body, administrative unit - a unit with administrative responsibilities
 (BLRA BLRA Brewers and Licensed Retailers Association (UK)
BLRA Bayonne Local Redevelopment Authority
BLRA Brunswick Local Redevelopment Authority (Brunswick, ME)
BLRA Building and Land Regulation Administration
) signed a redeveloper's agreement with Kaplan Companies of Highland Park Highland Park.

1 City (1990 pop. 30,575), Lake co., NE Ill., a suburb of Chicago on Lake Michigan; inc. 1869. It is a retail business and medical center for the North Shore area.
, N.J. for the project in the city's Bergen Point section.

Kaplan Companies will work with Chevron Texaco--the former property owner--to remediate portions of the 76-acre parcel that wraps under the base of the Bayonne Bridge at Avenue A and First Street.

Kaplan's mixed-use plan calls for the development of stacked townhouses, multifamily condominiums and multi-family rentals. The plan also calls for 150,000 s/f of retail space and 180,000 s/f of office space. In addition, Kaplan Companies plans to construct parking decks with a total of 4,200 spaces, a 116-slip marina, a public fishing pier and seven acres of park space, featuring ball fields and tennis courts.

"One of the best amenities of this project will be the public riverfront riv·er·front  
n.
The land or property along a river.
 walkway walkway Rehabilitation medicine An instrument used to measure the timing of foot contact and or position of the foot on the ground , featuring decorative lighting and benches," said Jason Kaplan, president of Kaplan Companies.

"Since 1907, Texaco had closed this waterfront parcel off to the public. Through our redevelopment plan, we are reclaiming it on behalf of the citizens of Bayonne."

To undertake such an aggressive plan, Kaplan said, the company will create a grid of roadways that connect with the pre-existing streets in Bergen Point. He noted it is important this project be designed as a natural extension of the city, rather than as its own development.

"The entire Bergen Point neighborhood is undergoing an incredible renaissance," Kaplan said. "We are pleased that we can play a leading role."

Kaplan said the project will serve as a national example of New Urbanism--in which older, industrial parcels are converted into thriving, mixed-use communities for people of all ages. In following New Urbanism New urbanism is an American urban design movement that arose in the early 1980s. Its goal is to reform all aspects of real estate development and urban planning, from urban retrofits to suburban infill.  principles, Kaplan said, the housing units will wrap around parking decks, concealing the structures. Residential garages will also be accessed by alleys to keep cars off the streets and in front of homes.

Kaplan anticipates the company will have its first land use application heard by the Bayonne Planning Board Noun 1. planning board - a board appointed to advise the chief administrator
advisory board

governance, governing body, organisation, administration, brass, establishment, organization - the persons (or committees or departments etc.
 by mid-year.
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Publication:Real Estate Weekly
Date:Feb 7, 2007
Words:360
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