While North Jersey has seen plenty of proposals lately for new developments that are expected to consist entirely or largely of market-rate rentals, a proposed multi-family complex in one Bergen County borough is slated to only include “affordable housing.”
A legal notice that was released late last month shows that the planned development would be a five-story building at 2 Executive Drive in Fort Lee near the Englewood city limits. The proposal by Fort Lee Office, LLC calls for the structure to include 40 “affordable” units should the project be approved. However, few other details about the company’s application were included in the notice.
The matter is scheduled to be heard by the Fort Lee Planning Board during its meeting on Monday, April 8, at 7:30 p.m., according to the meeting’s agenda. The developer has applied to receive Preliminary and Final Major Site Plan approval in order to move forward with the project. The notice states that the company is not seeking any variances from the Planning Board since they believe that the application is “fully compliant” with the area’s redevelopment plan, but that they reserve the right to request variances should they be deemed necessary.
Located near Routes 4 and 95, 2 Executive Drive currently contains a large office complex and the proposed development would only be constructed on a portion of the premises. NJ Parcels records associate Fort Lee Office, LLC, which owns the property, with the Chetrit Group, a major Manhattan-based real estate firm.
Note to readers: The dates that applications are scheduled to be heard by the Fort Lee Planning Board and other commissions are subject to change.