Jones Lang LaSalle
Hoboken factory sits in city's crosshairs
Wednesday, March 01, 2006
By BONNIE FRIEDMAN
JOURNAL STAFF WRITER
HOBOKEN - D. Kwitman & Son is one of the last vestiges of the Mile Square City's industrial past.
But the factory - which has produced drapes and other home furnishings for the past 23 years - may soon be on its way out as the City Council is expected to vote tonight on whether to use the power of eminent domain to take the property, as well as a neighboring self-storage facility, and turn it over to condominium developer Ursa/Tarragon.
The Kwitman factory sits on a quiet cobblestone stretch of Grand Street near 10th Street in what was once an area of vacant and abandoned factories and warehouses.
In 1998, a 20-block area that included the old factory was condemned and slated for redevelopment by Ursa/Tarragon, which aims to build a six-story, 150-unit building with one level of parking. In return, the developer offered givebacks including open space, a supermarket, 200 units of affordable housing and a community center and swimming pool.
City officials say they have no choice but to honor the deal or face mounting legal challenges.
"This was not the dream of the developers; this was the dream of a community advisory panel," said Councilman Michael Cricco. "The agreement was done in 1998 and the town already appreciated the reward from the plan."
But some area residents say what seemed like a no-brainer a decade ago now has to be rethought given Hoboken's red-hot real estate market.
"This area is hardly in need of economic development," said Thomas Pini, a Grand Street resident who blasted the city's plan at a public meeting held last week. "I have a great problem with two viable businesses being seized by the government and turned over to developers."
Harold Kwitman, whose family has owned the business for 70 years, said if he's forced to sell, he will likely reopen in another location. However, he doesn't know where or when, and he worries some of his several dozen employees won't be able to follow him.
"The government and real estate developers are in a close relationship, and unfortunately this is the way it is," Kwitman said.
Hoboken factory sits in city's crosshairs
Wednesday, March 01, 2006
By BONNIE FRIEDMAN
JOURNAL STAFF WRITER
HOBOKEN - D. Kwitman & Son is one of the last vestiges of the Mile Square City's industrial past.
But the factory - which has produced drapes and other home furnishings for the past 23 years - may soon be on its way out as the City Council is expected to vote tonight on whether to use the power of eminent domain to take the property, as well as a neighboring self-storage facility, and turn it over to condominium developer Ursa/Tarragon.
The Kwitman factory sits on a quiet cobblestone stretch of Grand Street near 10th Street in what was once an area of vacant and abandoned factories and warehouses.
In 1998, a 20-block area that included the old factory was condemned and slated for redevelopment by Ursa/Tarragon, which aims to build a six-story, 150-unit building with one level of parking. In return, the developer offered givebacks including open space, a supermarket, 200 units of affordable housing and a community center and swimming pool.
City officials say they have no choice but to honor the deal or face mounting legal challenges.
"This was not the dream of the developers; this was the dream of a community advisory panel," said Councilman Michael Cricco. "The agreement was done in 1998 and the town already appreciated the reward from the plan."
But some area residents say what seemed like a no-brainer a decade ago now has to be rethought given Hoboken's red-hot real estate market.
"This area is hardly in need of economic development," said Thomas Pini, a Grand Street resident who blasted the city's plan at a public meeting held last week. "I have a great problem with two viable businesses being seized by the government and turned over to developers."
Harold Kwitman, whose family has owned the business for 70 years, said if he's forced to sell, he will likely reopen in another location. However, he doesn't know where or when, and he worries some of his several dozen employees won't be able to follow him.
"The government and real estate developers are in a close relationship, and unfortunately this is the way it is," Kwitman said.
posted by Jones Lang LaSalle NJ News Blog at 11:11 AM
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