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Seeking Developers
“We’re
ready for all of this to come together,” said RRIC
Board member, Arthur Levine. “With River Road as the type
of place people want to come, we can focus on attracting new
business,” said Levine. But he stressed that this process
takes time. “We’re looking at about six to nine months
before we have a handle on serious developers.” The
RRIC is working actively to inform investors about the many
reasons to consider River Road and Fair Lawn for new commercial
investments. Community Bank of Bergen
County knows what it takes to make an investment on River Road. They
are working on opening their third branch, in the former
Carvel building. “The River Road location is centrally located to support our growth and service
our growing customer base,” said Marianne Byrne,
President of Community Bank, from her branch office in Rochelle
Park. We couldn't be more
pleased by the reception we've received from local officials and
business leaders. “We’re a full service community bank,”
said Byrne. Another bank is eyeing River
Road, as well. Commerce Bank is looking at the space
across from Ramapo Tire. They are already approved to go
on Fair Lawn Avenue at the corner of Saddle River Road
(Omar’s). “We’re anxious to see that River Road site developed,”
said Robert Landzettel, RRIC Board President and
owner of Lazon Paints. “But we would like to learn
more about that application from Commerce, when it becomes
available, before we offer an opinion.” Commerce
Bank has no application into the Planning Board for
development at this time, according to Kathy Hochkeppel, Planning
Board Secretary. But Commerce Bank has asked the Fair Lawn
Borough Council to consider rezoning the area for their use. The RRIC, based on
community surveys and its own Master Plan for the Improvement
of River Road, would welcome new retail and service
businesses to the area. Landzettel said he thinks the area
could use a few more restaurants. “People don’t go to
the same restaurants all the time, so the variety would be very
good.” But Landzettel said too much
of one kind of business is not what they’re looking for either.
This is why they will be relying on the report from Square Foot, a
business that recruits developers to match their
client’s area. The firm was engaged by the RRIC to help
promote investment in the area. “We’re looking for Marta Pearson
(Square Foot) to
give us a report on her recruitment progress,” said
Landzettel. Square Foot’s personnel are working closely with
a subcommittee of the RRIC, chaired by former Mayor Bob Gordon, and
supported by the RRIC's own project director, Don Smartt. Meanwhile, the RRIC is keeping
their eye on the Home Depot progress in Paterson on Route 20. According
to Deborah Hoffmann, Director of Economic Development for Passaic
County, Home Depot has received “all of their approvals both from the
city and the county”. They are presently in the process of “environmental
remediation” or the clean-up of the site. But there is no projected
grand opening at this time. “There are many
positives when developers come into an area, not the least of
them being the tax ratable for the host community,” said Hoffmann. She
said the Home Depot will probably raise the visibility of the
other stores on River Road, at the very least. “The traffic
may prompt more business in the area,” she said. And with the
economic slow down all around, more consumers passing by is
very positive. The
RRIC is factoring this slow down in their development process. “It
could take a developer more than five years to get their
project going,” said Levine. “So maybe it’s a good time
to take a look at what will fit down the road.”
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