|
December 21, 2007 08:46:46
|
Jersey City to sell Newark Avenue building
by Ken Thorbourne
Thursday December 20, 2007, 1:57 PM
A city-owned commercial property in downtown Jersey City will soon have a "for sale" sign.
City officials said they intend to sell 121-125 Newark Ave, a four-story building that houses nonprofit and government offices, including the Jersey City Employment and Training Program.
A redevelopment plan for the building will be adopted by February, and a request-for-proposals for interested developers will be issued shortly after, said city Redevelopment Agency Executive Director Robert Antonicello.
"What we are looking for is a use that would activate and re-energize that that lower part of Newark Avenue," Antonicello said. "There could be a retail/entertainment use, a restaurant. There could be a number of different things."
City officials believe the property can fetch more than $4 million on the open market -- in time, they hope, for this fiscal year, which ends June 30.
|
