Property in Red Bank at 2101 and 2119 Dayton Blvd., the location of the former Save-A-Lot grocery store and an empty strip shopping center next door, will be developed into apartments and retail space. At the Tuesday night commission meeting, a special exceptions permit was approved that will allow the residential space to be built in the C-1 commercial zone. A 200-plus unit apartment complex and a 7,000 square foot retail building will be built there. Getting the permit “opens the gate to engineering studies,” that are needed to move forward.
Other uses for this property have been proposed since the grocery store closed, one of those was a plasma collection center that was met with much opposition. Citizens at the meeting on Tuesday, for the most part, approved of the new proposals. Real estate developers Rise Partners purchased the property last year and changed plans for its use several times before settling on apartments. Geoff Smith, one of the developers, said they listened to what the people and the city wanted, which was higher density than the first proposal of 38 townhomes. He said they believe what has now been approved is the best plan for the community.
In addition to traditional apartments, the multi-level building will have at least four “live-work units.” Those will be two-story with living space above and work space on the first floor. Those units will face Dayton Boulevard. Any commercial uses in the spaces must not interfere with the surrounding neighbors. The buildings must also meet Red Bank’s design standards for multi-family units. If these commercial spaces turn out not to be viable, they will be designed so they can be converted back to residential use.
The municipal planning commission recommended approving the special exceptions permit with conditions that include that the lot line between the two tracts 2101 and 2119 be dissolved. The developers must also fund a traffic study. Residents and business owners nearby already complain about the number of cars and the difficulty of getting to or from their businesses and homes. It is feared that the additional people and cars that 200 apartments will bring will cause more traffic congestion. The study will help determine if there will be a need to add a traffic light or flashing lights.
The developers will also be required to build sidewalks and a crosswalk so residents can cross Dayton Boulevard to patronize bars and restaurants on the other side of the street. Engineering studies are now underway to see if the entire lot that now holds the two empty buildings and the parking lot can be taken down to street level. To fill the retail building, Rise Partners will try and incorporate local businesses. Decaffeinated will be one of them. It will have a presence as a manufacturing facility for roasting as well as having a sit-down café. Mr. Smith said they will be asking for leases no less than five years.
The developer told the commissioners that the city has been getting $26,000 a year in property taxes for the address. After it is developed with 40 percent commercial space, the city should receive $264,000 in taxes - 10 times what it gets today. Plus the commercial spaces should also generate some sales taxes. Another benefit will be that state-shared sales tax is based on the census of a city, so increasing population in Red Bank will grow the state sales taxes it receives.
The time line for a project this size, said Mr. Smith, is about six months to complete site work and another six months for the “vertical” construction process.
In other business, Red Bank is getting a new firetruck. Financial Director John Alexander told the commissioners that a $495,000, eight-year loan has been taken on to purchase a new firetruck with an interest rate of 4.95 percent.
Brian Wright, CPA with Johnson, Murphey and Wright, presented the 2022 audit report. He told the commissioners that the city received an unmodified clean opinion with no irregularities or errors. There also were no internal control deficiencies, he said. Red Bank got a totally clean opinion.
A second and final vote on the city’s new chicken ordinance could not be held on Tuesday due to time needed for advertising the meeting. The second and final vote will take place at the March 7 commission meeting.