… should a multistory garage and transit village (with four-story, multi-unit buildings) be built in this area, an additional downside could certainly materialize… namely a diminution in property values.
Many Chatham homeowners first moved here because of the borough’s arboreal character and wide-open spaces…
… the last thing a recent arrival from, say, Queens, New York, Jersey City, or South Orange might want to see are the aforementioned urban or quasi-urban communities following them to quiet and leafy suburban Chatham Borough.
An important factor in the valuation of so many residential properties here is precisely this quiet, leafy character of our charming suburban community. If this were to change in as dramatic a fashion… this pillar of the borough’s high property values might quickly dissolve…
… borough residents will now have to be vigilant on a case-by-case basis that such “visions and goals” do not indeed become fact.
Equally problematic are the potential tax increase implications accompanying all of the newly permitted construction. In particular, multistory parking garages are expensive to build and Chatham Borough taxpayers would ultimately foot the bill, regardless of the manner in which this project is financed…
These potential changes represent the worst sort of overdevelopment, one that would decidedly transform our charming little arboreal hamlet into something more nearly resembling the less suburban places from whence many of us first came to Chatham Borough…
…the new master plan creates the conceptual and legal room for a creeping urbanization in Chatham Borough. It portends the arrival of deep-pocketed developers who care nothing for the investment, financial or otherwise, so many of its residents have made in the purchase and maintenance of their homes, and the living of their lives, in this picturesque small New Jersey town.
…when these developers do arrive, they will be accompanied by their teams of highly-paid lawyers as they seek the Borough Council’s approval for their proposed redevelopment projects.
This will be a fundamentally asymmetric situation in terms of available resources to fight these projects, since individual Chatham homeowners will be hard-pressed to match the developers in terms of required legal fees. It will, in other words, be a David versus Goliath-like proposition for many Borough residents…
… the Planning Board’s vote in favor of the new master plan… has let the proverbial genie out of the bottle… it provides a policy foundation and framework for the borough’s land use laws and building regulations…