Real Estate
Court Adjourns Fairness Hearing On Proposed Development In Mahwah
A hearing to determine whether a proposed settlement between Mahwah and a developer is fair has been adjourned to September.
MAHWAH, NJ — A hearing to determine whether a proposed settlement between Mahwah and a developer is fair to low- and moderate-income households has been adjourned to Sept. 14 for further discussion of terms, township attorney Fred Semrau said.
Previously scheduled for Aug. 9 at Bergen County Superior Court, the hearing will consider a proposed settlement with Monarch Development Company Joint Venture that includes a mixed-use destination with retail and residential uses.
The court will also determine whether the settlement meets regulatory requirements for affordable housing, and, if it does, this will enable the township to adopt a redevelopment project plan, without subsequent court approval.
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