PARK RIDGE, N.J. -- Borough leaders and a local developer have reached an agreement expected to bring a five-story, mixed-use development to Kinderkamack Road, according to the Pascack Press.
Citing a statement from Mayor Terry Maguire, the Pascack Press reported that the development by Park Ridge Transit, LLC will include 17,000 square feet of retail space, 240 apartments (including 24 affordable housing units), 432 parking spaces and a community center.
The development, which is to be built on Kinderkamack Road just north of Madison Avenue, is expected to displace as many as five individuals, four families and three businesses, according to the Pascack Press, which reported that Park Ridge retains the right to use eminent domain where necessary.
Borough leaders and some members of the business community believe the development will help revitalize downtown Park Ridge, according to the Pascack Press, which reported that a formal site plan is to be submitted to the borough for review in the coming weeks.
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