Housing slump hitting MOT?
by Ronald Leir
Sunday January 20, 2008, 5:32 PM
Fallout from the nationwide housing slump has struck Bayonne's
Peninsula at Bayonne Harbor.
Developers of the Harbor Station North District at the Peninsula,
formerly known as the Military Ocean Terminal at Bayonne, are seeking
approval from the Bayonne Local Redevelopment Authority to switch from
for-sale to rental apartments.
Josh Sternberg, vice president of development for Roseland/Bayonne
LLC, partnered with Fidelco and S/K Bayonne Associates, to build 447
residential units at Harbor Station North, said that the team was
looking for the "flexibility to use rentals."
"We're being responsive to the current (housing) market conditions,"
Sternberg said. "The sale market is struggling but the rental market
is quite strong. So that's motivated us to move forward (on the
proposed switch) as quickly as possible."
How many units will be rentals and how many will be sold? "We'll
probably let the market drive that," Sternberg said.
See more in Bayonne
COMMENTS (1)Post a comment
Posted by 25june1876 on 01/21/08 at 8:25AM
what's next section 8 ???? just how many stupid people do you think
there are in the area to buy in an over priced and over taxed city and
state,rent ha, twenty years from now it will be a high priced,low rent
slum.
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/AsburyPark/
<*> Your email settings:
Individual Email | Traditional
<*> To change settings online go to:
http://groups.yahoo.com/group/AsburyPark/join
(Yahoo! ID required)
<*> To change settings via email:
mailto:[EMAIL PROTECTED]
mailto:[EMAIL PROTECTED]
<*> To unsubscribe from this group, send an email to:
[EMAIL PROTECTED]
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
