TrafficSNAFU t1_j7uqbr3 wrote
Reply to comment by Juicey_J_Hammerman in NJ Transit plans to move into new headquarters, but will remain in Newark by 66nexus
I was thinking a conversion might be a good use for the building. Another opportunity for more TOD.
Juicey_J_Hammerman t1_j7ut0n3 wrote
NJ transit said in the article that they balked in part due to the $100M est price tag to renovate and the fact that it would have to be done in stages over several years while they were still occupying the building. Developers may be more willing to shell out the former if they don’t have to worry about the latter.
Converting offices to housing is very expensive since the floor plans and building layouts are dramatically different, but I have to imagine it’s still cheaper and quicker to renovate an existing building near a major historic train station and a riverfront rather than raze and rebuild on the same site given potential environmental and transportation concerns/red tape.
Hell even if someone came in and basically tried to make it a “Gateway Center South” that would still be a dramatic improvement IMO.
TrafficSNAFU t1_j7uvma5 wrote
If its something where there could be a reasonable return on investment, its possible.
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