SOUTH JERSEY

$50M in tax breaks eyed for Glassboro plan

Jim Walsh
@jimwalsh_cp

GLASSBORO - A state authority on Tuesday is to consider tax breaks worth $50 million for the next  two phases of the Rowan Boulevard project in Glassboro.

The tax incentives from the Economic Development Authority would help finance construction of six mixed-use buildings and a parking garage at the project linking Rowan University's campus with downtown Glassboro. The construction would have a combined cost of more than $170 million, according to the EDA.

An earlier version of this story, prepared before the EDA released details of planned construction,  contained an inaccurate description of the project's scope.

The buildings would rise near High Street and Poplar streets at the former site of St. Bridget’s Catholic School.

Glassboro Mayor Leo McCabe said the plans represent "a continuation" of a recently developed 316,500-square-foot building at 220 Rowan Blvd. That massive structure holds almost 120 student apartments and about 60 “luxury market rate” apartments, as well as about 20,000 square feet of retail space and 27,000 square feet of medical space, according to the building’s website.

“It was very successful,” McCabe said of the 220 Building.

He said the planned buildings would hold retail, restaurant and office space at ground level, with student housing and "upscale apartments" in separate areas on upper floors.

Hearing set for Rowan Boulevard expansion

The EDA will consider tax breaks of up to $30 million for one phase, known as A3, and up to $21 million for the second, called A4, according to a preliminary agenda for its monthly meeting in Trenton Tuesday. The grants would be provided under the Economic Redevelopment and Growth program.

A representatives of the developer, Nexus Properties of Lawrenceville, Mercer County, could not be reached. The Rowan Boulevard project has been under construction in multiple stages since 2008.

Jim Walsh; (856) 486-2646; jwalsh@gannettnj.com