PARSIPPANY — During the Parsippany-Troy Hills Township Council Meeting of Tuesday, December 18, the vote on the proposed redevelopment of vacant commercial property, formerly occupied by Intel, at 1515 Route 10 has been tabled. Steve B. Pearlman, attorney for Stanbery Development Group made the request to the Township Council.
Pearlman said “I listened to Attorney Leslie London’s a presentation which was very informative. I appreciate that the council has a lot to consider with your (Council on Affordable Housing) COAH situation. We also know that I lecture state and nationally on pilots and (Redevelopment Area Bonds) RABs and I know they’re complicated because I talked to audiences for people who are involved in this field. We don’t want you to be force fed. We want you in the community to understand this project and frankly evaluate the way we value it. We spent a lot of time working on this question and answer document that we’ve left copies for everybody. We really would like people to look at it, understand it, because we’ve sat here through several meetings and I believe on that sheet we’ve answered every question that we’ve heard and we think that when you take this all in context, as I understand from your attorneys presentation, you have a very short window to figure out your COAH situation because you’re in that settlement litigation. So why would they ask him that spirit of trying to get something that everyone is happy with, that you tabled the motion for tonight? Everybody take time, get better informed, and then at a future date were rescheduled with the town attorney and let’s come back and vote in that case.”
The project will be re-noticed to the public in 2019. Parsippany Focus will update on upcoming meetings.
The redevelopment plan approved on September 25 is for construction of 100,000 square feet of retail space and restaurants with 441 residential units, 33 of those units to meet COAH requirements. (They are required to have an additional 34 COAH units, which they will pay Parsippany’s Affordable Housing Fund $3.3 million dollars.)
Stanbery Development also is the owner of The Shoppes At Union Hill, on Route 10, Denville.
The building was previously occupied by Intel. The main building on the property has three stories plus a lower level. The gross floor area is 237,300 square feet. It was built in 1984. The building is unoccupied.
The second building, to the south of the main building and connected by a second story walkway, is three stories and has a gross floor area of 71,231 square feet. It was built in 1999. There are 1,091 parking spaces on site around the perimeter of the buildings, more than 700 parking spaces located on Lot 1.02. The remaining 320 parking spaces are located on Lots 13 and 14 of Block 303 in Hanover Township.
Stanbery Development, LLC., paid $14.1 million for property in March 2015.
Steven B. Pearlman is the founding member of Pearlman & Miranda. Before Pearlman & Miranda, Mr. Pearlman was a founding partner of the Parsippany based firm Inglesino, Pearlman, Wyciskala & Taylor since 2010. John Inglesino is the former Township Attorney of Parsippany, from 2010 to 2017.
