Forecast for Central Jersey Redevelopment Projects Balmy

Redevelopers feel that the time is still not right to re-start several stalled redevelopment projects in Central New Jersey. Yet, local politicians who made such projects possible through the redevelopment designation process see these projects as ways to create jobs and tax revenue during the economic down turn, which would spur the local economy.

Somerville is still waiting for Shop-Rite to redevelop the 13-acre downtown site.

The Rustic Mall on South Main Street, Manville, long-slated for redevelopment by Livingston-based Garden Homes, will have to await environmental clean-up approvals, which will probably take at least a year to finalize.

And in Montgomery, the proposed Montgomery Promenade has been put on hold indefinitely by Washington, D.C.-based developer Madison Marquette. , had been proposed to include a Stop & Shop supermarket; Ann Taylor Loft; Coldwater Creek; Chico’s; J. Jill; Panera Bread; PNC Bank; Barnes & Noble; and White House Black Market.

For more information, see the related MyCentralJersey.com story.

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