Although Paterson has not seen as much new development over the last few years as other New Jersey municipalities such as Newark and Jersey City, a major new project was just approved for the central business district of the Garden State’s third-largest city.
Florio Management is planning to bring a six-story complex to 103-107 Washington Street and 112-126 Van Houten Street, a site consisting of eight tracts. The development, which was described by the Paterson Press as a $45 million project, is expected to bring 154 apartments to the neighborhood along with retail space. The residential portion will include studios, one-bedroom apartments, and two-bedroom units. Records from the Paterson Planning Board show that the project will involve the demolition of some structures, the adaptive reuse of others, and new construction.
Daniel Gonzalez of Florio Management told Jersey Digs that construction is expected to begin in September and last for between 18 months and two years. The apartments are slated to rent for $1,300 to $2,500 per month.
Like most urban areas in New Jersey, Paterson has been impacted by suburban sprawl over the last several decades that resulted in many of the city’s residents and businesses relocating to other parts of Passaic County along with neighboring Bergen and Essex counties. This site is no exception to this, having once been home to Greenbaum Interiors before the furniture business moved to Bergen County. However, unlike other cities such as Trenton and Camden that have seen significant population declines over the last century, Paterson’s population has remained around the same, largely because the Silk City has long attracted immigrants.