“MacQuesten Companies … proposed a 27-story, 282-unit building at the 45 Harrison St. site, with about 9,500 square feet of retail, a four-story parking garage and an option for office space.” LoHud State of the City 2018 speech by Mayor Bramson (3/1/18) "City Hall is moving back downtown. At the base of their Harrison Street tower, MacQuesten development has agreed to build out a brand new civic complex. It will put the people’s house back in the heart of our city, right between Main and Huguenot, bringing employees, visitors, and residents closer to shops and eateries, helping to create a more robust daytime office population, and making a bold statement of confidence in our downtown’s future … the School District, … will inherit this building [City Hall]."
Retail Space: 9895 sqft
Planning Board Approval:
Length: 0 months
Full Property Tax: $
Owner Savings: $
Mortgage Tax Exemption: $
Fair Share Mitigation: $
Data Last Updated: 11/7/2018
*Data listed here is subject to change. FOIL/FOIA requests are pending to obtain any missing data. Some of these numbers are estimated. Data comes from city documents.
** GLOSSARY TERMS: "As Is" taxes are the taxes of the property before development. Full Property Taxes are the taxes of the property after development. PILOT means Payment in Lieu of Taxes, which is less than full property taxes. Owner savings is the property tax abatement in dollars and as a percent of Full Property Taxes. PILOT length is the number of years that the PILOT is in effect. Fair Share Mitigation (FSM) fees are monies collected by the City from the developer to cover future infrastructure needs. The school system gets approximately 2/3 of the FSM fees.
*** Residents are calculated as follows: Studios = 1, 1BR = 1.5, 2BR = 3, 3BR = 4.5 (NDC formula) Students are calculted as follows: Studios (*0), 1BR (*0.014), 2BR (*0.141), 3BR (*0.213) (NDC formula)
*Data updating and collection is done by volunteers and may contain the occasional error or miscalculation.