Matawan Junction
View full sizeA Little Timeline for Perspective
July 5, 2000 — Train-station area designated for redevelopment. Matawan Borough Council adopted Resolution 00-07-08 designating land near the train station as a redevelopment area under New Jersey’s Local Redevelopment and Housing Law. That designation later became the legal framework for projects including Matawan Junction.
April 30, 2001 through 2019 — Redevelopment plan repeatedly amended. The original train-station redevelopment plan was adopted in 2001 and subsequently amended, including in 2015, 2018 and 2019. On October 15, 2019, Council adopted Ordinance 19-17, another amendment to the Transit Station Redevelopment Plan. The recorded “yes” votes were Nicolas Reeve, Josi Salvatore, Stephanie Buckel, Deana Gunn and Brian Livesey. The ordinance also required multifamily redevelopment projects to provide affordable housing under the standards stated in the ordinance and contemplated redevelopment agreements between developers and the Borough.
2021 — Redevelopment agreement reportedly executed. Multiple later sources state that the Borough and developer entered into the Matawan Junction redevelopment agreement in 2021. Contemporary reporting says that agreement contemplated approximately $12.6 million to Matawan over 30 years. Importantly, that $12.6 million figure is a projection over the life of the agreement, not an upfront payment.
The developer entity appearing in the later official records is 425 Cherry Associates, LLC, also known as Matawan Junction Urban Renewal, LLC.
October 3, 2022 — Planning/Zoning Board acts on the site plan. The official Planning/Zoning Board agenda identifies the applicant as 425 Cherry Associates, LLC AKA Matawan Junction Urban Renewal, LLC, covering 1–2 Bank Street and 54 Main Street, Block 5, Lots 6–9, and lists a site-plan application.
Contemporary reporting states the board approved the site plan that evening. The version then being described publicly included more than 10,000 square feet of ground-floor retail with market-rate residential units above.
November 7, 2022 — Formal site-plan resolution appears on board agenda. The following Planning/Zoning Board agenda lists a resolution for 425 Cherry Associates / Matawan Junction Urban Renewal concerning the same property, consistent with the Board memorializing the October approval.
October 18, 2022 — Borough Council publicly acknowledges the Planning Board approval. Council minutes state that Matawan Junction had received Planning/Zoning Board approval at the October 3 meeting and that construction was anticipated for spring 2023. The minutes also say the developer was required to coordinate with Monmouth County regarding the Aberdeen Road work.
This is useful because it shows that the October 2022 event was not the Council approving the PILOT; by then the redevelopment deal was already being described as having been signed in 2021. The 2022 action was principally a land-use/site-plan stage.
July 18, 2023 — Water-supply obligations discussed publicly. During a Borough Council meeting, a former Planning/Zoning Board member raised concerns regarding water availability for redevelopment projects including Matawan Junction. Councilwoman Deana Gunn responded that the water issue was contained in the Redeveloper Agreement. That statement confirms the agreement contained infrastructure-related obligations or conditions beyond simply the PILOT payment schedule.
August 21, 2023 — Regional sewer authority approval. Bayshore Regional Sewerage Authority approved the developer agreement and sanitary-sewer/Treatment Works Approval application for Matawan Junction Urban Renewal, LLC. The authority describes the project as 104 equivalent dwelling units (EDUs) for sewer-calculation purposes, with projected flows of 23,400 gallons per day under BRSA criteria and 18,205 gallons per day under NJDEP Treatment Works Approval criteria.
That “104 EDU” number should not automatically be read as 104 apartments; it is a sewer-capacity calculation.
October 2, 2023 — Amended site plan and subdivision return to Planning/Zoning Board. The Board agenda lists Matawan Junction for an “Amended Site Plan & Subdivision w/ Variances & Waivers.”
November 6, 2023 — Amended-plan resolution memorialized. The following Board agenda lists a resolution for the amended Matawan Junction site plan/subdivision.
2024 — State environmental/sewer approval. NJDEP records identify Matawan Junction, 12 Bank Street, project number 24-0095, applicant Matawan Junction Urban Renewal, with an application dated March 4, 2024 and approval dated May 29, 2024.
By 2025–26 — Construction underway. County planning material and subsequent references identify Matawan Junction as an active construction project rather than merely a proposed redevelopment.
What the available evidence establishes about the PILOT
The public reporting tied directly to the 2021 redevelopment agreement says the project was expected to generate approximately $12.6 million over 30 years for Matawan Borough.