Tax Exemption Planned for Elizabeth’s Vinty Development

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190 Union Street Elizabeth New Rendering
190 Union Street proposed mixed-use development. Rendering via Sabre Real Estate.

New information has been released regarding a major mixed-use project that will be constructed near Elizabeth’s main train station.

The Elizabeth City Council is planning to give a tax break to the upcoming Vinty development at 190 Union Street, between West Union and West Jersey Streets. A legal notice from City Hall shows that the council passed an ordinance on first reading during its March 13 meeting to allow for the “resort style multifamily project” to receive a long-term tax exemption.

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The notice does not state how many years the tax exemption would be in effect, or if affordable housing will be included as part of the deal. However, it mentions that a previous resolution “approved the project and authorized the mayor to enter into a financial agreement subject to approval by ordinance.”

This exemption would be granted to 190 Union Redevelopment Urban Renewal, LLC, which is owned by Salvador Leccese, Salvador Garcia, and Jeremy Leventhal, according to the notice. Records from the New Jersey Election Law Enforcement Commission database show that Garcia has donated $3,800 since 2012 to Elizabeth Mayor Chris Bollwage’s campaigns.

Last year, Jersey Digs first reported on the development, which is set to be constructed on property that has been owned by the city. Garcia stated in the winter that the proposal by Faros Properties and MAS Development Group’s Faros-Mas Elizabeth, LLC subsidiary called for 267 residential rental units, parking, a cafe, a restaurant, a greenhouse, several retail spaces, and an outdoor courtyard with a pool.

However, the 267-unit building will apparently not be the only part of Vinty. The notice from City Hall states that Phase II of the project calls for a new building with 63 units, all of which would be market-rate rentals. The new phase would include 1,000 square feet of retail space, along with 72 parking spaces for residents. Plus, a half-acre recreational area called “River Trail Park” is set to be constructed along the neighboring Elizabeth River.

Although a specific address is not listed for the second phase of Vinty, the notice states that the development area includes 100-134 Price Street and 69-73 West Jersey Street. Both properties are city-owned lots that are just across the street from the site of where the main Vinty building will be developed.

The news of Vinty’s construction comes as more development is being proposed throughout Elizabeth, particularly in the Midtown area. Faros-Mas is behind a proposal for a 258-unit mixed-use building just up the street at the corner of Westfield Avenue, while construction is currently underway on the adaptive reuse of Hersh Tower into apartments. Plus, closer to the waterfront, plans are moving forward for a 100-unit building in Elizabethport.

Update (July 9, 2018): Following the publication of this story, Jersey Digs received this statement from Beckerman PR, which represents the developer of Vinty: “As part of the PILOT agreement, MAS will develop and maintain a one-acre public park along the Elizabeth River. It will connect with the Elizabeth River Trail, and will feature park benches, a garden, bird houses, and an area to display art. MAS is working with Groundwork Elizabeth and its Executive Director, Jonathan Phillips, to design the park.”

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