Last November 11, our Borough Council commissioned a draft Redevelopment Plan for a massive, 500-unit apartment project on River Road, next to the huge, 245-unit Ivy complex.
Since then, it’s come to light that the new project would be risky for Chatham Borough in at least seven ways, as follows:
First, this new River Road project is NOT required by affordable housing law, and it would NOT help fulfill the Borough’s new Fourth Round affordable housing RDP quota for 2025-2035 either.
The new apartments would be in addition to the Borough’s affordable housing quota, which the Council must figure out how to satisfy before the end of this June 2025.
Go to minute 1:31:00 here: https://chathamborough.granicus.com/MediaPlayer.php?view_id=1&clip_id=197
https://www.tapinto.net/towns/chatham/categories/letters-to-the-editor/articles/blind-faith
Second, the alleged risk associated with NOT adopting that 500-apartment Redevelopment Plan for River Road is totally imaginary.
Our Council President insists that, absent the new Plan, current zoning allows private property owners to develop up to 707 new apartments on River Road and the Borough would have NO say in the matter. That sounds scary, but it is NOT true.
In fact, about 40% of the Redevelopment Area (and more than 50% of the Gateway 1 district) is Borough-owned. Would-be developers can’t touch it without the Council’s consent.
Also, the part of the Redevelopment area that’s privately-owned is mostly small lots, all subject to many federal, state, and local rules and regulations, including setbacks. https://ecode360.com/6793110#29899351
As such, the owners of that private property would NOT be able to build anywhere near 707 new apartments there without Borough approval.
Third, if the Borough Council tries to prevent private development by adopting a rental Redevelopment Plan, then we’ll end up with far more apartments on River Road. That’s because to satisfy the legal requirement to provide at least 75 affordable units, making up at least 15% of the project, a rental Plan would have to provide for at least 500 new apartments – more than twice the number at the Ivy.
Our Mayor & Council are well aware that the Redevelopment Plan would allow construction of 500 apartments – twice the number at the Ivy. They heard it directly from Borough Planner Fran Reiner last March. Go to minute 1:06:00 here: https://chathamborough.granicus.com/MediaPlayer.php?view_id=1&clip_id=197
Fourth, some Council members don’t seem to realize that such a Plan would also almost inevitably involve granting the redeveloper corporate welfare, at the very least a total PILOT exemption from paying property taxes, same as the Ivy.
Fifth, some believe the Mayor & Council could persuade a developer to provide MORE than 15% affordable rental units. A 20% affordable project, for instance, could be limited to 375 units. But what would the Council need to do to induce a redeveloper to accept that deal?
Would they give away some of the Borough land along the River? Allow the redeveloper to build several extra stories? Grant the redeveloper an even more lavish PILOT tax exemption? All three? How would such concessions impact financial security and quality of life in the Borough?
Sixth, even a 375-unit Redevelopment project would burden our precious water supply, and might force us to resort to less desirable sources.
https://chathamchoice.org/2024/11
Seventh, the Mayor & Council President claim that adopting a Plan would enable them to get the redeveloper to throw in a “free” riverside park and other so-called “amenities.” But the fact is that nothing is free.
https://chathamchoice.org/2024/08/welcome-back/
To get those goodies, the Borough Council would have to accept an even worse a deal for residents and taxpayers. They’d probably need to give away most or all of the Borough land along the River, to allow the redeveloper to build even more extra stories, and to grant the redeveloper an even more lavish PILOT tax exemption.
Before spending any more time or money on another Redevelopment Plan for River Road, our Mayor & Council need to tell us how they would avoid getting stuck with a huge, 500-unit rental project that would clog up our roads, and would almost certainly demand an exemption from property taxes, forcing the rest of us to make up the difference.
https://chathamchoice.org/2024/12
Better yet, tell the Mayor & Council to set aside this ill-conceived scheme and concentrate on urgent business, including meeting our affordable housing quota without overburdening our wallets and infrastructure.
