8/25/2017 - Hackensack Council introduces Continental Plaza property Redevelopment Ordinance

Hackensack Council introduces Continental Plaza property Redevelopment Ordinance

HACKENSACK, N.J. -- The Hackensack City Council voted to introduce an ordinance on Tuesday that is expected to pave the way for an extensive redevelopment at Continental Plaza, a major commercial property in the city. Currently home to three large office towers as well as a restaurant, the redevelopment plan would encourage the site to be converted into a mixed-use development that could include residential units, retail space, a hotel and significant public open space, among other considerations. The redevelopment ordinance will be subject to a public hearing at the September Planning Board Meeting and will be voted on for final passage at an upcoming City Council meeting.

"Continental Plaza is one of our city's signature properties and we believe that passing this redevelopment ordinance will allow it to be reborn as a place where people can live, shop, dine and enjoy themselves," said Mayor John Labrosse. "This fits perfectly with our overall vision of redeveloping our city to bring new tax revenue and amenities to our residents."

Located off of Route 4 across from the Shops at Riverside mall, Continental Plaza was recently sold and has had an increasing rate of vacancy in recent years as the regional market for office space has struggled. The city's vision for the property would allow it to be repurposed into a more in-demand mixed-use complex.

"Adaptive reuse projects like this one and several others that are already underway allow us to satisfy current market demands in older buildings without developers incurring added demolition and construction costs," said Deputy Mayor Kathleen Canestrino. "We're excited to see Continental Plaza be redeveloped and look forward to seeing the site progress in the coming years."

Click here for the Redevelopment Plan.