An aerial view of Lot C, a surface parking lot slated for redevelopment by Hackensack. — Courtesy: DMR Architects
By Joshua Burd
Hackensack city officials have picked Hornrock Properties and Russo Development to transform a 4.3-acre parking lot into a mixed-use complex with 338 residential units and retail space.
Following a city council vote Wednesday night, the city said it will sell what’s known as Lot C to the joint venture and enact a new parking sharing revenue agreement, for “a net offer of over $8 million.” That will pave the way for the planned $86 million project, which calls for two buildings that include 4,000 square feet of retail space, 200 parking spaces, community amenities and public park that will serve as a gateway to the city from Bogota.
Lot C is located between the East Salem Street Extension, Midtown Bridge Approach and Midtown Place across from Foschini Park. It sits a block east of Hackensack University Medical Center and just west of the Hackensack River.
It’s the latest step in an ongoing redevelopment effort of Hackensack, following an extensive planning process that goes back years. Officials say the city is adding nearly $1 billion in new real estate value, with more than 2,200 new residential units and 140,000 square feet of new retail space currently under construction or approved.
“Selecting this redevelopment plan represents another step forward in our mission of revitalizing Hackensack and making it the best small city in the state,” Mayor John Labrosse said in a prepared statement. “This project will create substantial new city revenue and continue growing Hackensack in a responsible, sustainable way that will benefit all residents and taxpayers.”
Plans at the new development include an outdoor pool, urban garden, fire pits, communal kitchen and pet friendly spaces, according to a news release. The apartments are expected to include nine-foot ceiling heights, oversized windows and energy efficient appliances.
Preliminary designs by Minno & Wasko Architects and Planners show two separate buildings inside the triangle-shaped parcel, split by a central courtyard.
The city said it will now enter into negotiations with the developer on financial and redevelopment agreements. To date, Lot C has not generated any tax revenue.
“Redevelopment is our community’s future and growing our city in a responsible manner that works for taxpayers is our administration’s highest priority,” Deputy Mayor Kathleen Canestrino said. “Along with many other vital projects on Main Street and throughout the surrounding areas, this redevelopment initiative will transform an underutilized parcel of land into an exciting new place for people to live, shop, eat and enjoy.”