The former site of Resnick’s hardware store at the corner of 46th Street and Broadway in Bayonne will soon be home to a new 10-story mixed-use project.
Street level retail will occupy the first floor of the new building with 91 residential units above. A mechanical vehicle lift is planned that enables the site to hold 150 vehicles. Plans also call for a rooftop amenity deck complete with a swimming pool.
With demolition now underway, Lance Lucarelli, of The L Group, the developer of the project, expect construction to begin in 3-4 months.
The Resnick’s project spurred controversy when it was approved last spring. Standing 107-feet-tall, some community members felt the building was out of step with its low-rise neighbors. However, it falls in line with the areas redevelopment plan which allows for heights up to 120 feet. Residents still opposed the project mainly because they also oppose the redevelopment plan.
Lucarelli believes the new project is a step forward for Bayonne and will create much needed economic opportunity.
The L Group is also behind the newly opened Park Bayonne. Since its opening in the spring, Park Bayonne has leased up nearly all of its 60 units, indicating the strong demand for new residential units in the peninsula city.
So far, Bayonne has managed to escape the massive development its northern neighbor is experiencing. But with competition for development sites getting tougher, developers are starting to look south. Bayonne should expect to see more projects working their way through the pipeline.
[gmap height=”250px”]957 Broadway, Bayonne, NJ 07002[/gmap]
957 Broadway, Bayonne, NJ 07002