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Beer and pessimism
I spoke with Taneshia Nash-Laird last week (she's
the city's economic director) and she assures me
that there's more going on in Trenton than even
what's being reported in the papers.
Trenton Times article on real estate in Trenton Maybe that's so, but none of it matters until the "for sale" sign goes up. Also, I'm sure a good bit of the development the city is trumpeting falls under the category of restricted affordable housing that regular people aren't allowed to buy. One big project that seems to have dropped off the radar is the Hovnanian development in the old Champale site. Hovnanian should have been almost finished by now (they got development rights in early 2004). Hovnanian (a very large and reputable development company) was gung-ho when I met their lead for urban projects. The homes were going to sell in the $200s with views of the river. This would have been low priced for Central NJ but high- end for Trenton. I guess Hovnanian just didn't drink enough Kool-Aid. The Champale site is isolated from other high-end development in Trenton. If I were them I wouldn't have budged until I either got a super sweetheart deal or saw irresistible proof that the surrounding area was about to undergo a renaissance. Instead they got some neighborhood squabbling. The Lamberton Historic District Committee endorsed the project but other individuals and organizations most notably PROS (run by a local socialist with a big mouth) opposed it. |
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Hint: They've gone lower
The Adams One development on W. State has
lowered its prices. The units start at $99,000 and go
up to $169,000. This is the kind of pricing that
says ...
"There is no way in the world I will ever buy a nice place for this little money, so why heck not jump into Trenton with both feet" Seriously, owning a nice condo and having money left over is a great idea. |
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Trenton's biggest loft building is going condo
Now here's an interesting update. The folks at Jasco
which owns Grand Court Villas (aka The Cigar
Factory) have started the paperwork to begin selling
off condos in that building. Tenants have received a
prospectus of sorts that spells out the details of the
building and projects expenses for a condo
association.
Current tenants will have first crack at the units but Jasco plans to sell vacated apartments when they get their act together. Sorry to be vague, but the Jasco sales agent learned about this from my wife. I don't want to get people too wound up about this because it may or may not happen this year. However, there is real potential to create great loft space in this building. |
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More and bigger units
Don't forget to update your email listing on
Trentonlofts.com if you want to receive the first shot
at rental applications for the Broad St. Bank Building
downtown.
I got a note from the developer this week who says they're adding more units onto the mezzanine and that there has been some redesign to make all the units bigger. This is great news!! |
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Still not done
I'll send out a special bulletin to
everybody on the "Loft Rental list" when it is.
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Passage Theater at Mill Hill Playhouse
Musical about a man trying to get rid of his piano.
Former songwriter Charlie is getting married (for the
third time) and has to get rid of his baby grand piano
before he moves. Rather than pay movers, he posts
signs around his New York neighborhood declaring “
Move It and It's Yours!” which immediately attracts
an array of characters.
Mill Hill Playhouse |
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Our downtown block party
I've said it many times before but before you move
to Trenton, you need to come down to our 2nd
Friday event.
Next Trenton 2 Nite is Nov. 11 starting around 6pm. |
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