November 11, 2024
Raritan NJ Mall redevelopment plan rejected again
Raritan NJ Mall redevelopment plan rejected again

RARITAN BOROUGH – The Raritan Mall will remain “decrepit” for now.

A $96.3 million plan to redevelop the nearly vacant shopping center at the intersection of Orlando Drive and Route 206 was unanimously rejected by the Borough Council on Tuesday following vocal opposition by residents.

The plan called for the transformation of the 12.2-acre tract, which was called “exceptionally decrepit” in a redevelopment study, into a mixed-used development with 276 apartments and two retail spaces totaling 28,000 square feet.

According to a financial report drafted by NW Financial Group, if the project were built and the borough and developer signed a Payment in Lieu of Taxes (PILOT) agreement, the municipality could receive an estimated $36.65 million from the developer through the lifetime of the 30-year agreement.

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