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Anyone know anything about the future plans for the vacant old Saks building on Millburn Ave.? Have heard they might turn into townhouses but u/s it's been vacant for 15+ years. We are looking at a property very close to this location and are wondering how its development might affect our purchase. thanks.
My husband and I bought a house in that neighborhood about 8 months (June 08) ago and I had similar concerns.
My broker did some research with Springfield and Millburn and here is what we found out.
Springfield has approved the re-zoning of that property for comercial use. That was about 2 years ago. Royal Ahold has plans to build a Stop n Shop there (has been planning that for past 15 years during approval process). The present plan calls for a 10-12 ft high wall to be built by Royal Ahold around the whole property for sound protection and asthetic benefit and Baltusrol Ave would be a permanent dead end; no thru traffic allowed on Baltusrol Ave or surrounding streets. That was a major point for us. Worse case senario, our street would remain a permanent dead end.
Also, as per Springfield, the building cannot be moved or rebuilt. They have to use the 4 walls there. A blow to Ahold as they wanted to rebuild building further back.
My broker then called Millburn. Tougher to get concrete info. Some of building is on Millburn property. Millburn does not want the service trucks to enter Millburn Ave. The Springfield plans call for loading bays to be on far side of lot; on Millburn property and for truckls to only use Millburn Ave and not to congest Morris Ave/Rt 124.
Royal Ahold has petitioned Millburn countless times to re-consider. I have requested to get latest traffic study conducted by Millburn; but no luck so far.
Also, we were told that Kings supermarket is in Short Hills/Millburn and rumored to have strong ties to Millburn town hall. There is a Shoprite on Morris Ave in Springfield and another Shopright in Millburn on Main Street and a Foodtown in Springfield center. There are alot of supermarkets in a small area.
We were also told that there is interest from real estate developers to build luxery townhomes there and both towns are interested in that because that would be higher revenue for both towns. (unconfirmed)
We also heard (unconfirmed) that the catering hall on corner of Millburn Ave and Short Hills Ave (Chaticlair ?) will be turned into townhomes b/c of higher revenue to town.
To me..it just seems that 15 years is a long time to fight. At what point do they give up ?
My husband walks thru the parking lot everyday to get to SH train.
Its a nice neighborhood with lots of kids and real nice families. We have a block party at Halloween every year for the kids.
I'd personally like to talk to "Royal Ahold" to see if it's possible to make an offer for the property. I have searched for awhile and haven't found anything on the property really untill now. It has to be a waste, paying taxes on a property that size when it is not making any money. I've been looking for a long time to place a commuter lot in that general area for (non-residents & residents), and I think that this property would be ideal. (It would be a lot that permits could be purchased weekly, monthly, yearly, and could also be used by patrons of the local stores for however long needed) The lot would look tasteful with landscaping and be extremely clean and I'd have the building removed. Also I'd have shuttles during peak times to and from both train stations there to help with pedestrian traffic. What is the general thought on my idea? Yes or No, give me your opinions and reasons for them because I'm serious about my idea and think it is something that would fit in the neigbor, be more appealing than a big store, look attractive and be an asset to locals. Also, if anyone has any information for Royal Ahold, please let me know. I would definitely like to get in touch and feel everything out. I also would be interested in anyone wanting to go in as business partners as I am very serious about this and have already done some number crunching and know this would be a very profitable business. I also have some other ideas about security and others (can't say and give others my idea) to make it even more appealing to a commuting individual.
I think its a great idea provided that there is no parking and could actually do that in that town and have no problems with NJIT /permits money not going to town. Added in that the building/property is not 2 million dollars or epa (tank) in ground /sludge in ground may be a good idea. Add to it insurance in not thru the roof you may be onto something.
Yeah I'm not sure about all the details of the idea.. I do know that parking is a big thing there though. Millburn only allows town residents to get permits so all the springfield residents and neighboring town residents that would buy permits are not able to. They have to live close enough to the stations to walk. The other towns on the same train line that are near Millburn/ Short Hills (Maplewood & Summit) already have put in lots like this and definitely get them sold out. What were you saying about the epa (tank) though? Is there a tank in the ground that I have to get rid of? I guess that would be expensive but that would also be a plus when speaking to zoning and town comittee. I could then use the fact that I'm disposing of something that is not unsafe for the environment to my advantage. I think I should write a letter to NJIT, Springfield and Millburn to see what they think. Maybe they even have some contact info for the owner. I'd really love to make this idea work. Still if someone would like to go in as business partners or something, please contact me on here first and then I will give you contact info. This is a business that doesn't require too much over head and can be very profitable if run correctly. I also have some hookups in the police depts in the area for extra security of vehicles. If cops park in the lot often, there will be a signifigantly smaller amount of crime. Also, everyone please feel free to add your opinions on an attractive commuter lot going in, good or bad, with your reasons. I'd love to hear resident's thoughts on how it could be better or whatever. Is valet preferred? Is more security preferred? Does anyone have concerns with traffic if all the entrances are utilized (both Millburn Ave ones and the one Morris Ave spot)? Any other concerns?? Sorry I know not everyone reads this, but maybe everyone could ask some friends and neighbors what they thought. Ok, well please feel free to say whatever, thanks!
if you want to buy the building your responsible for whats on that property. I dont know if there are tanks there may be things underground thats all and if its old its something that can not be forgot.
If the property has already ben approved for the rezoning to commercial, it's value just went up considerably. I don't know the specific building we're talking about, but if its of a decent size and they're just waiting for the economy to improve before proceeding with their redevelopment, I'd say your chances of buying the property at a price that makes your proforma work are pretty slim. You'll also have to deal with the demolition of the existing building, any hazmat remediation, and the cost of the new lot- unless you're able to charge NYC rates to park, I'd say your plan has a slim chance of making financial sense.
If the property has already ben approved for the rezoning to commercial, it's value just went up considerably. I don't know the specific building we're talking about, but if its of a decent size and they're just waiting for the economy to improve before proceeding with their redevelopment, I'd say your chances of buying the property at a price that makes your proforma work are pretty slim. You'll also have to deal with the demolition of the existing building, any hazmat remediation, and the cost of the new lot- unless you're able to charge NYC rates to park, I'd say your plan has a slim chance of making financial sense.
Well it's definitely worth the time to find out about the price. The lot is extremely large and would fit a large amount of cars. Not to mention is in an ideal location. And if this was already a Sak's Fifth Avenue, it was not just newly zoned to be commercial. The demolition is not the biggest deal, but the hazmat situation would be. I'll have to look into it. By the way, they are not just waiting for the economy to rebound. They are having numerous problems with getting their plans approved due to concerns from residents in Millburn/ Short Hills over traffic. I do agree though that the chance of getting that parcel at a price that would make my vision work is pretty slim. That's why I think the fact that the owner must be wasting tons of money on it through taxes and paymens (if it wasn't bought out right). It must be a drain on whoever owns it right now.
Well it's definitely worth the time to find out about the price. The lot is extremely large and would fit a large amount of cars. Not to mention is in an ideal location. And if this was already a Sak's Fifth Avenue, it was not just newly zoned to be commercial. The demolition is not the biggest deal, but the hazmat situation would be. I'll have to look into it. By the way, they are not just waiting for the economy to rebound. They are having numerous problems with getting their plans approved due to concerns from residents in Millburn/ Short Hills over traffic. I do agree though that the chance of getting that parcel at a price that would make my vision work is pretty slim. That's why I think the fact that the owner must be wasting tons of money on it through taxes and paymens (if it wasn't bought out right). It must be a drain on whoever owns it right now.
And you're thinking that packing the lot full of cars from wall to wall won't create a traffic problem, especially as everyone tries to get into and out of the lot within roughly a 2-hour period each morning and evening?
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