Some of the heavy hitters in Ridgewood's business community think an could be just what the village needs to spark a new business era in town.
We detailed the particulars last week, but here's a brief reminder:
A developer would come to terms with the village for a land lease on the small parking lot between and . The lot would be ripped up and a two-story 12,000 sq. ft. retail building would be constructed in the hopes it attracts a big-time anchor retailer.
The money from the land lease and property taxes would finance the construction of a grade plus-two story parking garage at the Hudson Street lot, which would contain a 4,000 sq. ft. retail building adjacent to . The revenue would help finance the construction of another parking garage, this one at the Walnut St. lot. The additional parking should total somewhere between 180-230 spaces, organizers said.
The total project should cost in the neighborhood of $8 million and the architects of the plan say it should be fully funded by the revenue from taxes and the land leases. The council will be discussing it for quite some time.
So that's pretty much the plan in a nutshell – what are your thoughts? Great idea that seems plausible? Interesting but a fantasy? Realistic but a poor concept? Something in between? Sound off below.
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