MATAWAN – At the start of the year, Matawan Borough Council members appointed Rexmonte, LLC, as the interim developer for the proposed Matawan Junction redevelopment project.
During a recent video conference, Rexmonte representative Robert Wilt described the Matawan Junction redevelopment plan for council members.
The redevelopment plan was co-created by Minno and Wasko Architects and Planners principal Dave Winno.
Mayor Joseph Altomonte said, “We appointed Rexmonte as the interim developer, which gives us time to sort out the details of a developer’s agreement, and then we can appoint them as the developer. We are working with Rexmonte and our professionals to hash out the details for a developer’s agreement.”
In describing the Matawan Junction project, Wilt spoke about a proposed four-story structure that would include 10,900 square feet of retail space, 103 residential units, 147 parking spaces and recreational space.
The project would be constructed at the intersection of Main and High streets on a 2-acre lot. The property is at the eastern edge of the Matawan Transit Station Redevelopment Area and is a connection between the Aberdeen-Matawan train station and a surrounding neighborhood, according to Wilt’s presentation.
At present, the parcel is underused and contains abandoned structures. The corner lot was previously used as a parking garage and gas station from 1940-84.
Because the lot is in the redevelopment area, mixed use retail is permitted on the ground floor and housing is permitted above the retail uses. Permitted uses include restaurants, bars and retail shops, according to Wilt.
Municipal officials have said the intent of the Matawan Junction project is to help revitalize a northern gateway to Matawan; contribute to a vibrant, pedestrian-oriented community; and complement and provide an extension to Matawan’s historic downtown.
The plan’s objectives and community benefits include promoting local jobs; economic development; business expansion opportunities; to clean, eliminate and prevent blight on a highly trafficked intersection; and to provide tax revenue, according to borough officials.
Rexmonte’s development team includes Greentree Construction Co., Wessex Management, and Minno and Wasko Architects and Planners.
Altomonte said members of the public will have opportunities to comment on the Matawan Junction project during town hall meetings that will be announced.
Rexmonte was designated as the exclusive redeveloper of the redevelopment area for a period of six months. The council’s approval is contingent upon the execution of an interim costs agreement through which Rexmonte will agree to reimburse Matawan for any and all reasonable interim costs in a form approved by Matawan’s special redevelopment counsel, and the successful negotiation and execution a formal redevelopment agreement with the borough, according to municipal officials.