![200 South Second Street Elizabeth 1](https://jerseydigs.com/wp-content/uploads/2018/12/200-South-Second-Street-Elizabeth-1.jpg)
The Frog Hollow neighborhood in Elizabeth will be gaining a multi-million dollar redevelopment by GonSosa Development, slated to begin construction this coming January. In early November 2018, brothers Ricardo Sosa and Alberto Goncalves, Elizabeth natives, closed on the property for $1.5 million. The 1.5-acre parcel of land located at 200 South Second Street, where plans are approved for 23 two-family homes, was previously foreclosed on by the city for non-payment of taxes. The homes are eligible for a five-year tax abatement, and it is predicted by Goncalves that within the next 10 years the City of Elizabeth will receive around $4 million in new property tax revenue from this project.
![200 South Second Street Elizabeth 2](https://jerseydigs.com/wp-content/uploads/2018/12/200-South-Second-Street-Elizabeth-2.jpg)
“The time is now right for the revitalization of the Frog Hollow neighborhood, an area that has been underserved,” says Eduardo J. Rodriguez, director, planning & community development for the City of Elizabeth. A formal ribbon cutting is tentatively planned for March 2019.