PARSIPPANY — On Tuesday, December 2, the Parsippany-Troy Hills Township Council advanced two separate PILOT (Payment in Lieu of Taxes) agreements, approving both ordinances on first reading despite clear indications that large numbers of residents intend to oppose the projects at their final hearings.
The first ordinance concerns a tax-exemption agreement with PARQ Urban Renewal, LLC, approved by a 4–1 vote, with Councilman Matt McGraft voting against the measure. (ORDINANCE 2025:31)
The second ordinance involves a tax-exemption agreement with BBX Parsippany Urban Renewal, LLC, approved by a narrower 3–2 vote, with Councilmen Matt McGraft and Justin Musella voting in opposition. (ORDINANCE 2025:32)
Once approved, the PILOT will move to second reading, clearing the way for the project to proceed.
Details of the PARQ PILOT
The PARQ development—located on the former Lanidex East property—already includes 275 apartments constructed by PARQ and 75 townhomes built by Ryan Homes. The newly proposed PILOT agreement seeks approval for:
- 1,102 additional apartments, including
- 20% reserved for affordable housing (To be built in a separate building within the complex)
- 18,200 square feet of new retail space, including future restaurants
- An additional 110 townhomes to be built by Ryan Homes (not included in the PILOT financing structure)
If approved on second reading, the expansion would bring the total unit count on the property to well over 1,500 residential units.
Second Hearing Scheduled; Location May Change
A second and final public hearing is scheduled for Tuesday, December 16 at 7:00 p.m. at the Parsippany Municipal Building, 1001 Parsippany Boulevard. Due to anticipated resident turnout, township officials are reportedly considering relocating the meeting to a larger venue. Parsippany Focus will update this story if the meeting location changes.
Historical Context: Prior PILOT Disputes Drew Massive Crowds
Parsippany faced a similar situation in December 2023, when the outgoing council advanced several PILOT programs, prompting significant public backlash. More than 800 residents attended the rescheduled December 28 hearing held at the Parsippany PAL. Residents at the time argued that the facility was over capacity and lacked sufficient restroom facilities, though Parsippany Fire Officials did not order the meeting closed.
BBX PILOT Also Moves Forward
In addition to the PARQ agreement, the Council voted on first reading to advance a PILOT for BBX Parsippany Urban Renewal, LLC, the developer behind the new 140,031-square-foot commercial building at 20–30 Lanidex Plaza, visible from Parsippany Road adjacent to Parsippany Funeral Home.
Both ordinances will be considered for final adoption on December 16.
