Village Council Selects Developer For $18 Million North Walnut Street Parking Garage/Retail Complex

In John Saraceno, Onyx Equities, Paul Aronsohn, Ridgewood New Jersey on January 29, 2009 at 4:09 pm

It was announced during Wednesday evening’s Village Council Work Session that Council members have chosen Onyx Equities, LLC of Woodbridge, NJ as project developer of the proposed $18 million parking garage/retail complex on North Walnut Street.

Onyx currently owns the former Sealfon’s building on East Ridgewood Avenue, and the Old Post Office building on Oak Street. John A. Saraceno, a principal of Onyx and resident of Coventry Court, serves on the Ridgewood Library Board of Trustees with Mayor David T. Pfund.

Following the announcement, Councilman Paul Aronsohn reaffirmed his strong opposition to the project.

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  1. “John A. Saraceno, a principal of Onyx and resident of Coventry Court, serves on the Ridgewood Library Board of Trustees with Mayor David T. Pfund.”

    Proving once again the old saying: “It’s not what you know, but who you know.”

  2. This sounds like a conflict of interest.
    AND/OR the NJ Code of Ethics.

    Check it out VC. You may all lose your jobs.

  3. $18 million dollars – for a parking garage and retail stores? Have you walked down Ridgewood ave east or west, or franklin ave, or broad street? Vacant stores are popping up everywhere. The drive thru coffe shop is gone. The new storefront on franklin where the car dealer was is still empty.
    WAMU on Ridgewood is going to be empty w/in days(merging with Glenn Rock Branch, Chase doesnt need 3 branches in one town). Several other store fronts stand vacant as well. So lets build more space and pretend the rent from the stores will help pay for the behemoth above it. I am not sure, but it sure seems like the economy in the US is in trouble. It might come to a surprise to many, but Ridgewood IS feeling the effects, even if many dont want to beleive it, with $250,000 playground drives, $13.9m pools and more more vacant retail space. There are over 30 homes in foreclosure status for sale in Ridgewood. Sounds like Mr Aronsohn is taking the right position.

  4. Stop the madness!

  5. Pfund really knows how to throw OUR funds around. Instead of not running for reelection why doesn’t he just leave now.

  6. Of all the projects being considered by the Council, the parking garage/retail complex makes the least sense and will have the most impact on the village. Affordable housing at that location makes more sense as we already own the property and the area is less congested than on Broad. Why not a referendum? After all, it is the people that have the most to gain or lose by such a project and I don ‘t think elected officials have the right to do the publics ” unbidding.”

  7. How much are the Village taxpayers on the hook for in this proposal?

  8. Has anyone asked if Onyx has ever successfully developed a mixed-used project? No one asked alot of questions about Bernie Madoff either. This is a joke and inside deal.

  9. Did anyone read the Ridgewood News opinion section that noted that this contract was awarded to Onyx at 12:30am with only Onyx present! I guess Mayor Pfund and Mr. Saraceno made this deal over golf at the Ridgewood country club….oh..they are both members there?! Coincidental? Ridgewood library? Rotary Club too? Hmmmm……

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