A blog about living in Aberdeen, New Jersey.

Wednesday, June 23, 2010

4-Story Development Would Cast Shadow on Downtown Matawan, Residents Say

Three years ago, an out-of-town developer bought the old Foodtown building on Main Street between Little Street and Maiden Lane from another out-of-towner for $1.5 million. According to APP, Emlenrich LLC has big plans for that section of the borough, including three floors of condos over ground level retail space. A couple of simple Google searches give one the impression that Emlenrich LLC was formed specifically for this project and has no other presence in the property development industry. The biggest clue is that all online references to the company for the past three years involve this one project.

As for the principal developer, I found a Ricardo Hernandez in a NJIT brochure who could be a match. Don't you just love land development in New Jersey? The guy in the brochure is described as follows:

Ricardo Hernandez is a Real Estate Analyst, Developer, Project Manager, and Architect with expertise evaluating potential acquisitions and developments through financial modeling, and market research. Mr. Hernandez has an Architecture degree from Simon Bolivar University (Caracas, Venezuela) and a Master of Science degree from Columbia University (New York, NY). Advance courses from MIT Center for Real Estate (Boston, MA) and Urban Land Institute (Washington, DC).

The project has not been presented to the Borough because the paperwork wasn't in order for a June Planning Board meeting, so it will likely be presented in August. Residents don't seem to be pleased with the project, based on APP interviews.

Below is an aerial view of the land in question. Check out the APP article for an artist's rendering of the proposed project.

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