City Land Sales to Redevelopers

At a glance

What: A steady stream of resolutions selling City-owned lots to redevelopers at per-square-foot prices set by a 2004 ordinance (about $13 to $25 per square foot), or at negotiated prices for larger sites, mostly for one- to four-family homes and small mixed-use buildings.
Where it stands: September 9 and 23 saw many sales adopted and many deferred or returned to the administration. Notable votes: Lagoon Property Development at $653,000 passed with Jackson voting no; several sales drew abstentions from Ramos, Jackson, Crump or Council.
Next: Deferred items (for example Home Support Group, GonSosa Development, 177 Scheerer Avenue buyer) will return; the deed restriction ordinance now governs future sales.

Adopted September 9

Wrighton Management LLC, two-family home, $92,068.30 (deferred twice before; Council Member Council moved, Council Member Scott-Rountree seconded; Council Member Ramos abstained).
All for the Family LLC, two-family home sold at 80 percent AMI, $43,680.
Legacy Housing & Construction LLC, $57,750 (Council Member Ramos abstained).
34 Jersey U R LLC, extension of a current development, negotiated $173,076.80 (Council Member Jackson and Council Member Ramos abstained).
Clinton View, LLC, first amendment: $972,000 less an environmental remediation credit not to exceed $194,400 (Council Member Council moved, Council Member Kelly seconded; Council Member Crump and Council Member Jackson abstained).
DW2 Construction LLC, two two-family rentals at 60 to 80 percent AMI, $72,862.50.
Ahmed Burks LLC, three-family, $90,804 (Council Member Ramos abstained).
Lagoon Property Development LLC, five-story mixed-use, negotiated $653,000 against an $817,000 appraisal (Council Member Council moved, Council Member Crump seconded; Council Member Jackson voted no).
Emmoli Ventures Inc., six-story mixed-use with 28 units, 20 percent affordable, negotiated $400,000.
JWC Development Group LLC, $69,750; Etta Investments LLC, $31,825; Brick City Preservation LLC, three two-family homes for Section 8 voucher holders, $106,730; IAMYCO Investments LLC, $143,764.11 (includes a wine and spirits shop; Council Member Ramos abstained).
Deferred September 9: Home Support Group LLC ($187,000), GonSosa Development LLC ($220,500, 32 apartments, 20 percent affordable), IBN Construction ($102,603, 13 units), the Scheerer Avenue buyer ($78,960), Brice Holdings LLC ($105,170), Pre-appraisals Property Development LLC ($83,470, 16 units with 5 at 30 percent AMI).

September 23

Adopted: Brice Holdings LLC ($105,170, 50 to 70 percent AMI homes); Pre-appraisals Property Development ($83,470); 16 Highland Collective LLC ($43,160); Mind Over Matter Orientation Commission LTD ($70,000, Section 8 rental); South Ward Capital LLC mixed-use at Bergen Street ($90,742.50; Council Member Crump abstained); first amendment for 302-304 West Runyon Newark, LLC name change ($80,000; Council Member Council abstained); A&V Investment Group LLC ($99,960); and one other individual buyer.
Deferred again: PB3 Renovations & Management LLC ($55,500), Burrowes Development Group LLC ($27,988.80), GT Community Development, LP ($102,000), IBN Construction, the Scheerer Avenue buyer, one individual buyer.
Returned to the administration: Home Support Group, GonSosa Development, Bright Night LLC ($86,530), Crest Construction Acquisitions LLC ($125,000).
Subordination of reverter rights for Maximum Holding Group 1, LLC adopted (Council Member Kelly moved, Council Member Jackson seconded).

Redevelopment Property Deed Restriction and South Ward Reverted Properties.