Greystone still in the picture.
By: Vic Monaco
HIGHTSTOWN Less than three weeks after the expiration of its working agreement with the borough over the redevelopment of the Bank Street area, a Pennsylvania developer appears to be back in the picture.
A new plan to develop the 12-acre site of a former rug mill will be presented at the Oct. 17 Borough Council meeting, Mayor Bob Patten said Thursday.
That news followed an hourlong Thursday morning meeting between the mayor, some members of both the Borough Council and the Planning Board, and a developer "working with Greystone," Mr. Patten said.
"It was a good meeting but it’s premature" to talk about its specifics, the mayor said. "Every time someone makes a comment too soon, it gets twisted around."
In early 2004, Greystone Mill, based in Paoli, Pa., became the conditional developer of the site, which is home to abandoned buildings and empty lots. This May, Greystone presented a plan for 72 condominiums, eight duplexes and 35,000 square feet of office space including space that could be used for municipal offices. But a month later, the firm increased the number of condos to 122, citing cost-efficiency. The change angered both residents and council members.
On Sept. 21, Greystone failed to make a deadline, which had already been extended two months, for submitting a revised plan and, as a result, its contract with the borough expired.
Asked Thursday if a new developer is involved in the project, Mayor Patten said yes. But that developer, he said, is "someone working with Greystone."
"The committee members were very happy with the plan discussed at the meeting," the mayor said.
Asked if he is optimistic that the project can move forward, Mr. Patten said "absolutely."
Borough Councilman Walter Sikorski, who last week cited "irreconcilable differences" with Greystone, sounded a much more optimistic tone after attending Thursday’s meeting.
"The results of the meeting seem promising toward a resolution for development," he said.