45-Story Apartment Building Planned for George Street Proposes 160 Affordable Units

NEW BRUNSWICK – A 45-story, 800-unit apartment building planned for a vacant lot behind the Abundant Life Family Worship Church on George Street is set to include 160 low- and moderate-income units.

NB Plaza Owner Urban Renewal LLC, described as a partnership between developer Ifany LLC. and the church, has been designated as the redeveloper for the $350 million mixed-use project that falls into the city’s Lower George II Redevelopment Plan.

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The agreement approved by a 7-0 vote of the Housing Authority at Wednesday night’s meeting amends a previous deal in which 80 low- and moderate-income units had been proposed.

Thomas Kelso, the attorney for the redeveloper, said developers are proposing an increase in the number of low- and moderate-income units to leverage a state program created as part of the Economic Recovery Act of 2020 that pays up to 60% of new construction projects by using low-income housing tax credits.

“We’ve had an opportunity to sit and discuss the benefits of having the Aspire Program tax credit program as part of the funding of this project; the unit mix had to change,” Kelso said.

Kelso said that of those 160 units, 32 will be three-bedroom units.

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The redeveloper designation application filed with the city shows that in addition to 800 residential units, the project will consist of an unspecified amount of square footage for commercial space. It will also include a 501-space parking deck on the irregular-shaped tract of land between George and Neilson streets and Tabernacle Way and Morris Street.

Kelso said the parking area at Abundant Life Church will be resurfaced as part of the NB Plaza plans. He also said the church will be able to use a minimum of 50 spaces in a parking deck that will be constructed with the project.

“It’s a partnership that Abundant Life Church sought out, interviewed a number of developers, made the determination that they wish to partner with the Ifany Group, and so it’s really been a very, very positive experience for all of them,” Kelso said during the July 24 meeting.

Kelso said the developer is ready to move the project to the Planning Board for approval, likely in the fall. In fact, he said plans have already  been submitted to the board.

He said plans for NB Plaza are moving forward despite lawsuits that have been filed in New Jersey Superior Court by the Association of Disenfranchised Bidders of Redevelopment Work in The City of New Brunswick and the Association of Concerned Citizens of New Brunswick.

A spokesman for the groups said the lawsuits cite concerns that Ifany LLC may have "duped" the city in its redeveloper designation application, including lack of financial transparency, misrepresentation of experience in real estate development and failure to conduct due diligence on behalf of the public.

Kelso said he and his client had just become aware of the lawsuit when they began the application process.

“The biggest and most important point for us determining to move forward is the fact that there is no restraint issued by the court with regard to our ability to move forward,” Kelso said. “And, we think that considering the fact that we have the equity funding in place, the Aspire program application going forward, we’re ready to move forward with plans. There’s no reason to wait any longer.”

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