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w w w . m a i n s t r e e t h a c k e n s a c k . c o m
City of Hackensack
NJ Future Redevelopment Forum
March 11th, 2016
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
David Troast, PP, AICP
C i t y M a n a g e r
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Elements of Successful Downtowns:
Components:
1. Higher Density Re...
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Benefits:
1. Increased Tax Ratables
2. Higher Values for Residenti...
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
HACKENSACK
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
ASSETS:
Location:
• Located in Bergen County
• East Access to Manh...
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Employment / Anchors:
• Hackensack University Medical Center (6,70...
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
CHALLENGES:
1. Struggling Downtown District
- Higher Vacancy Rates...
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
THE PLAN
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Projects:
- CSO Phase 1 Separation
- Performing Arts Center
- Atla...
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
CSO Separation
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Atlantic Street Park
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Banta Place
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Record Site
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Record Site
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
150-170 Main Street
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Arts Walk
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
Funding Sources:
- County Open Space Grant ($268K)
- NJEIT Sewer S...
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
1. 3,500 to 5,000 Residential Units
2. Two Way Street System
3. 18...
w w w . m a i n s t r e e t h a c k e n s a c k . c o m
OTHER SLIDE
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NJFuture Redevelopment Forum 2016 Troast

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Presentation from Rebuilding Infrastructure, One Redevelopment Project at a Time

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NJFuture Redevelopment Forum 2016 Troast

  1. 1. w w w . m a i n s t r e e t h a c k e n s a c k . c o m City of Hackensack NJ Future Redevelopment Forum March 11th, 2016
  2. 2. w w w . m a i n s t r e e t h a c k e n s a c k . c o m David Troast, PP, AICP C i t y M a n a g e r
  3. 3. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Elements of Successful Downtowns: Components: 1. Higher Density Residential 2. Mixed Use Retail 3. Entertainment / Cultural Arts 4. Parks / Plazas / Open Spaces 5. Near Transit 6. Public Parking 7. Management “You can’t rely on bringing people downtown; you have to put them there.” The Death and Life of Great American Cities Jane Jacobs
  4. 4. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Benefits: 1. Increased Tax Ratables 2. Higher Values for Residential 3. Lower Infrastructure Costs/Unit 4. Less School Age Children 5. Lower Impacts on Services Benefits of Successful Downtowns:
  5. 5. w w w . m a i n s t r e e t h a c k e n s a c k . c o m HACKENSACK
  6. 6. w w w . m a i n s t r e e t h a c k e n s a c k . c o m ASSETS: Location: • Located in Bergen County • East Access to Manhattan • County Seat • Great Scale / Bones for Development Proximity: • 8 miles to GW Bridge • 13 miles to Lincoln Tunnel • 14 miles to Hoboken Ferry • 16 miles to Holland Tunnel Access: • Route 4 Route 17 Route 46 • I - 80 NJ Turnpike Garden State Pkwy Transit: • Anderson Train Station (41 min. to Penn Station) • Essex Train Station (39 min. to Penn Station) • River Street Regional Bus Terminal
  7. 7. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Employment / Anchors: • Hackensack University Medical Center (6,700) • Bergen County Complex (2,700) • Higher Education Institutions • Riverside Square Mall – Major Retailers • Ice House (World Class Training Facility) • Every Major Bank Strong Business District: • Day Time Population +100,000 • Chamber of Commerce +/- 165 • Upper Main Street Alliance +/- 325 ASSETS:
  8. 8. w w w . m a i n s t r e e t h a c k e n s a c k . c o m CHALLENGES: 1. Struggling Downtown District - Higher Vacancy Rates /Lower Rental Rates - No Defined District - Poor Circulation Pattern (One way System) - Combined System (CSO) - No Residential 2. Outdated Zoning (1960’s / 1970’s) - Outdate Parking Requirements - Variance Approval Process 3. Difficult Approval Process 4. In Need for RATABLES
  9. 9. w w w . m a i n s t r e e t h a c k e n s a c k . c o m THE PLAN
  10. 10. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Projects: - CSO Phase 1 Separation - Performing Arts Center - Atlantic Street Park - Two way street conversion - Community Facilities - 11 Adopted Redevelopment Plans - 700 units under construction - 1,800 units in the planning phase Implementation:
  11. 11. w w w . m a i n s t r e e t h a c k e n s a c k . c o m CSO Separation
  12. 12. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Atlantic Street Park
  13. 13. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Banta Place
  14. 14. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Record Site
  15. 15. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Record Site
  16. 16. w w w . m a i n s t r e e t h a c k e n s a c k . c o m 150-170 Main Street
  17. 17. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Arts Walk
  18. 18. w w w . m a i n s t r e e t h a c k e n s a c k . c o m Funding Sources: - County Open Space Grant ($268K) - NJEIT Sewer Sep. Grant ($3.2 mil) - Safe Street Grant ($250K) - BID “Friends of Downtown ($40K) Revenues: - PILOT’s (700 units) - $1.2 mil in additional revenues - $4 - $5 mil in future revenues - Sewer Tap Fees ($2,500 per unit) - Parking Utility ($1.5 mil per year) - Red. / Sale of City Property - Municipal Bonding Implementation:
  19. 19. w w w . m a i n s t r e e t h a c k e n s a c k . c o m 1. 3,500 to 5,000 Residential Units 2. Two Way Street System 3. 18 Hour Downtown District 4. 60 - 65% Restaurants (New Development) 5. Performing Arts Center 6. Separation of CSO in the Downtown 7. Riverfront Park Completion 8. Tax Rateables + $6 - $10 Million Per Year 9. Public Parking Downtown Hackensack Next 10 Years:
  20. 20. w w w . m a i n s t r e e t h a c k e n s a c k . c o m OTHER SLIDE

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