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TEANECK - An attorney representing the Glenpointe development, Wendy Berger, made a presentation at the Jan. 7 Teaneck Council meeting asking for the councils support for a proposal to build a new office building on the site.
The Glenpointe had received the planning boards approval several years ago for the project, but before construction moved forward, the applicant decided a larger building would better suit their needs.
The commercial component of the development contains about 525,000 square feet of office space. At the present time more than 97 percent of the office space is leased, explained Berger, indicating a large need in the area.
"Because of its location, with direct access from the highway, and having amenities such as the hotel, gym and spa, theres great demand for office space within the complex," she said.
In 2006, the planning board approved an eight-story 200,000 square foot building to be constructed on what is now an open parking lot on the site. An overhead walkway, connecting the building to the parking garage and Marriot Hotel, was also approved. Now, Glenpointe Associates hopes to build an approximately $342,000 square foot office building on the vacant parcel, in lieu of the previously approved building.
"Doing so will allow us to have the capability to bring a large tenant into the property and also give the capability of existing tenants in the complex additional space to grow and stay in the Teaneck community," said Berger.
There would be no change in the set back of the building or any other bulk variances required as a result of the larger building, she said.
The area where the building would be constructed currently generates about $18,000 annually in property taxes. If the larger building was constructed, it would contribute an estimated $1.7 million in taxes, based on current tax rates, said Berger.
The Glenpointe development, which includes office space, the hotel, residential properties and a senior living complex, currently pays about $7.5 million in taxes each year.
"We believe that the additional taxes paid to the community would not result in any additional burdens to the community, in that there are no school children being generated by the additional office complex, and very little services are needed," she said. "It will also have spill over benefit effect to the community, housing over 1,000 additional employees, who will use the services of the Teaneck community, business districts, stores, gas stations, banks, and restaurants. In our estimation, doing a larger building would only have a positive impact."
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Glenpointe in Teaneck seeks support for new building project
ST. PAUL, Minn. (AP) A Minnesota Senate committee approved plans Wednesday for a new legislative office building thats become entangled in partisan politics.
The $63 million building is intended to house offices for state senators and their staff, and it will include adjacent parking facilities totaling another $27 million. The building is to open in 2015 and be located directly north of the Capitol building across University Avenue.
The full Legislature authorized the construction last spring, but the state Department of Administration cannot proceed with the planning until rules committees in both the Senate and House sign off on preliminary designs and cost estimates. The Senate Rules Committee approved those Wednesday on a party-line vote, with majority Democrats in support, but the House Rules Committee still needs to do so.
Republican committee members complained the project has moved forward without proper scrutiny. Legislation enabling its construction was included in a tax bill, not the usual route for approving state building projects.
There was no bill on it and there was no hearing on it, said Sen. Scott Newman, R-Hutchinson. I think we ought to have a committee hearing on this project.
Republican interest groups have criticized the project, saying it shows arrogance by senators looking to spend taxpayer funds on elaborate new offices.
Democrats said the new building is a necessary part of an ongoing, large-scale renovation of the Capitol building. By next year, that project will force Democratic senators and other Senate offices out of the Capitol. And once the renovation is complete, the Senate wont likely be able to count on retaining major portions of the space it now occupies under the dome.
Senate Majority Leader Tom Bakk, DFL-Cook, said the Senate stands to lose up to 23,000 square feet of space in the renovated Capitol. The two projects are very closely linked together, Bakk said.
The construction timelines are also closely linked, and that could pose a challenge for planners as Republicans seek to delay or derail the new buildings construction. Jim Knoblach, a former GOP state representative, has sued to block its construction, arguing it was improper to authorize construction bonds for the project in the tax bill.
Wayne Waslaski, the Department of Administration official overseeing the project, said the state cannot sell the construction bonds until the lawsuit is resolved. A court hearing is scheduled for next week. But the current plan is for construction to get going as early as next month, and Waslaski said delays would immediately add to the projects cost.
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Senate Committee Backs Controversial Building Plan
In the past 120 years, the Gov. Wolf Building in Easton has been a school, an office building and a target of a failed redevelopment pitch. Now it adds apartment building to its resume.
Developer Mark Mulligan, who agreed to buy the building from Northampton County last year for $1.9 million, unveiled his vision for the colossal property fronting on North Second Street 50 apartments across the building's five floors. Easton's Planning Commission gave unanimous approval to the project Wednesday night.
Mulligan said this project is the easiest he has tackled in Easton so far, and construction should start by May or June. The building's features, big hallways, a spiral staircase, an antiquated gymnasium, never made sense in an office building, Mulligan said, though the county uses it to house its Human Services division.
"It just never worked as an office building," Mulligan said.
Along with partner Bill Vogt, Mulligan has rehabbed the former Pomeroy building downtown, is working on the Silk project on North 13th Street, and closed late last year on the sale of the city's tallest building, the Alpha Building on Centre Square.
Mulligan said some of the momentum he has helped create with popular apartments in the Pomeroy project made an apartment conversion of the Gov. Wolf Building that much more attractive. He said demand at Pomeroy and its sister building, Pine Street Lofts, will bump rents for Gov. Wolf's 50 units a little bit higher.
Mulligan expects prices slightly higher than Pomeroy's and Pine Street's, where rents for single-bedroom apartments range from $900 to $950, and two-bedrooms from $1,200 to $1,400. He added that inclusion in the state's latest Keystone Opportunity Zone has already drawn interest from prospective renters, because the zone affords residents a 10-year tax abatement from local and state levies.
The 50 units are spread across the five floors, with a high number of single-bedroom apartments on the third and fourth floors. The fifth floor will be unique, with a single one-bedroom unit and 11 two-bedrooms that will use the attic space as a loft, Mulligan said. Skylights will also be added on the rear of the building for those fifth-floor apartments.
The old gym, the original structure on the property, will be converted into three floors of one-bedroom apartments.
Just before the recent recession, the building and its 3.4-acre lot were proposed as the site of Riverwalk, planned as a seven-story tower of condominiums over a five-story parking deck and bus terminal. The deal evaporated when the Easton Area School District refused tax breaks on the site. The federal money pledged for the bus terminal portion of Riverwalk was funneled into the plans for the city's new City Hall and intermodal center.
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Gov. Wolf Building to become 50 high-end apartments
