2 New Apartment Building Proposals Move Forward In Bloomfield

BLOOMFIELD, NJ — The Bloomfield Town Council advanced two proposed real estate projects to their next phases during their recent meeting.

The council heard presentations about the two resolutions from township attorney Michael Parlavecchio prior to unanimously voting in favor of them on Dec. 11 (watch the video below, cued to Parlavecchio’s comments). Read both resolutions here.

Bloomfield Broad Associates LLC is asking permission to build a six-story mixed use project with 125 rental residential units with on-site parking and about 6,000 square feet of retail space.

According to Parlavecchio:

“In April of this year, the council designated the area of 11 to 35 Broad Street and 29 to 31 Washington Street and 440 Franklin Street – which is located in the phase two redevelopment plan – as a non-condemnation area in need of redevelopment. We're here for the next step in the redevelopment process. And that's designate the redeveloper of the site [Bloomfield Broad Associates LLC] and to authorize the township to enter into redevelopment agreement for the redevelopment project.”

The council also voted in favor of a resolution that designates an interim redeveloper for another project on Bloomfield Avenue and Farrand Street.

Franklin Development Group LLC has signed a contract of sale for the purchase of the property located at 666-668 Bloomfield Avenue and 41-43 Farrand Street. The company intends to demolish the existing building improvements on the site, and plans to build a six-floor mixed-use building with 30 residential units, 30 parking spaces and retail space.

The redeveloper estimates that the project will cost approximately $14.7 million and would be constructed within 18 months after all governmental approvals have been obtained.

According to Parlavecchio:

“[Franklin Development Group] has signed a contract of sale to purchase the property at 666-668 Bloomfield Avenue and 41-43 Farrand Street. That's the True Value rental site next to the old Bloomfield electric redevelopment project. In fact, this is the same developer that did the adjacent site at Bloomfield electric. Franklin Development has made an application to be designated as the redeveloper of that site … This would again designate them pursuant to the redevelopment plan and subject to the negotiation and approval of a redevelopment agreement within the next 90 days. We'd move on from there.”

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