Sometime in the near future the empty fenced in three-acre lot where the former Huffman Koos used to sit on Main Street, will become a focal point of activity. The owners of the property, Route 4 - Main Street LLC, has begun the process of seeking financial support from the state Economic Development Authority after spending the past year performingDepartment of Environmental Protection cleanup of trichloroethylene.
"The owners spent $3 million on the remediation of the wells on the site," River Edge Borough Attorney Sam Cereste said. The clean-up efforts were a result of a former dry cleaning business on site. "They are taking the first initial step to getting the project going."
The Huffman Koos development project for a trio of retail buildings on site was approved by the Planning Board in 2007 and the former building was demolished the following year.
is slated to move down the street into a new 30,000-square-foot building on the property, with a 22,000-square-foot building set aside for smaller retailers. current building will be converted into a pharmacy.
The Economic Development Authority has the ability to help finance suburban development projects under the Economic Redevelopment and Growth (ERG) ProgramERG is considered an incentive for real estate development projects that have a financing gap, defined as having insufficient revenues to support the project debt service under a standard financing scenario. If approved, the project could receive up to 75% of the annual incremental State Tax and/or Local Tax revenue but must first go through an application process.
Another upcoming development project will be a 7 Eleven site plan application by Ideal Properties LLC at 584 Kinderkamack Road, Block 619, Lot 3. Initially set for hearings to begin on April 19, the application has been postponed to the May 17 meeting.
The property is located just off of Van Buren Avenue and adjacent to the .
According to the 7 Eleven website, the franchise views northern New Jersey as one of its growth markets. It also looks for locations that can handle at least 1,800 square feet of selling space, a 24-hour operation or a location that can convert to a 24-hour operation, and an electrical standard 600 amp, 3-phase service.
There are currently five 7 Eleven locations within a two-and-a-half mile radius of River Edge; two in New Milford, one in Dumont, one in Bergenfield and one in Paramus.