Center City project gets green light

Friday, February 11, 2005

By TOM MEAGHER

HERALD NEWS

PATERSON - The city, the parking authority and developers have agreed to build the long-planned Center City project downtown.

In a mostly ceremonial meeting Thursday night, the City Council voted 7-0 to ratify the revised redevelopment agreement that will shape the 320,000-square-foot retail and entertainment complex to be built between Smith, Ward, Main and Clark streets.

Watching the council, the parking authority and Center City Partners from across the railing, more than 30 people sat in the audience filled with city officials, attorneys, and developers. Most applauded when the council's roll call vote was completed.

Less than a month ago, a similar special council meeting to finish the deal broke down in shouting and accusations that the parking authority was obstructing the administration's marquee development. The project has been more than two years in the making, and it is the third for the site in nearly 20 years.

On Thursday night, council President Jerry Luis Rosado and 4th Ward Councilwoman Vera Ames-Garnes were absent. However, with 1st Ward Councilman Anthony Davis sitting as president, the parties involved hugged one another and shook hands.

"I have nothing but the utmost respect for all of you. I thank you very much," Paterson Parking Authority Executive Director Tony Perez told the council. "The rebirth of Paterson begins tonight."

Under the revised agreement, the authority and the developer will split 1,250 parking spaces. The developer will also make up the parking authority's lost revenue until the project has been 80 percent full for five consecutive years.

In announcing the city's final agreement with the authority and the Center City Partners, Mayor Jose "Joey" Torres dispelled rumors that a supermarket was being considered to anchor the complex. During the past few days, the agreement was examined to close any loopholes that would have allowed less desirable tenants into Center City, the mayor said.

"There are things very clearly that we do not want to see in this structure," Torres said. "A supermarket is one. Exotic dancing is another. Auto repairs is another. Liquor stores, adult stores, massage parlors, gun stores."

After the council's vote, Center City Partners' managing partner Nick Tsapatsaris handed the mayor an oversized check - and a genuine one - for $1.1 million for the guarantee fund called for in the agreement.

The mayor also announced that Community Theatres, a New Jersey-based company, has given the developers a letter of intent to build a 26,000-square-foot, 10-screen movie theater in Center City. The theater will have the capacity to seat nearly 2,000 people.

Before the Center City project can break ground, a market feasibility study and a traffic feasibility study must be conducted.

For the officials Thursday night, however, it seemed to be a mere formality.

"Once this thing is successful, you'll be surprised to see that many of these 99-cent stores will be eased off," said 6th Ward Councilman Thomas Rooney. "Please, gentlemen, don't deviate from what we worked out because you need this and we need this."

Reach Tom Meagher at (973) 569-7152 or meagher@northjersey.com.

Reproduced with permission of North Jersey Media Group