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Archive for the ‘Onyx Equities’ Category

Saraceno Tells Village Council: “There Will Be Fist Fights To Rent Space In Your Building!” – Feels “Personally Demonized" by Blog Posters

In John Saraceno, Onyx Equities, Parking, Ridgewood NJ on March 26, 2009 at 9:02 pm

John A. Saraceno, a principal of Onyx Equities, LLC and a resident of Coventry Court, Ridgewood, appeared before Village Council members in public session last night to answer questions about his firm’s proposal for the construction of a multi-million dollar parking garage/commercial complex on North Walnut Street. Village Council members had previously selected Onyx as the project’s sole developer.

In response to a statement made by Councilman Paul Aronsohn that the parking garage/retail complex project should not move forward, Saraceno said:

“Even in today’s economic climate, if that space were now available, I could rent it in one hour or less.”

“There will be fist fights among quality tenants to get space in your building.”

“Stores such as Brooks Brothers, J Crew, and Aeropostale want to be in Ridgewood badly and will likely sign letters of intent as soon as it is known space will be available.”

“The retailers likely to want this space are national retailers who will stay open until 10:30 PM Monday through Saturday, and draw nighttime business into your Central Business District.”

Mr. Saraceno made mention of The Ridgewood Blog in his opening comments to Council members. He said that although he does not read The Ridgewood Blog, he had received phone calls from several friends about his name being mentioned within, and had concluded that he was being “personally demonized” by Blog posters.

Further discussion regarding Onyx’s proposal has been scheduled for the Council’s April 22nd Open Public Meeting.

Questions for Mr. Saraceno:

If retail space in Ridgewood is such a hot commodity, how come your building at the corner of Ridgewood Avenue and North Maple Street (formerly Sealfons) is not completely rented out? And don’t tell The Fly that you can’t rent it because you have no parking there; the building is surrounding by parking lots!

Also, The Gap, Ann Taylor, and other national retailers in Ridgewood do not stay open anywhere near 10:30 PM on weeknights. What do you know that we don’t?
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The Fly Says This Makes No Sense What So Ever

In municipal jobs, Onyx Equities, Ridgewood Parking problems, VC on March 25, 2009 at 4:39 pm

Tonight, Village Council members are scheduled to again debate the introduction of a multi-million bond ordinance to raise funds for construction of a massive parking garage/retail complex on North Walnut Street.

Current speculation is that construction costs for such a facility would total $18-$20 million. Council members had initially hoped construction could be financed without the need for tax dollars above and beyond $3 million already appropriated for property acquisition and site remediation.

However, The Fly has learned that Onyx Equities, LLC, the Council’s chosen real estate development firm, is not willing to completely fund this endeavor. It is not known at this time exactly how much Onyx is willing to contribute, but insider information obtained by The Fly suggests the number is miniscule.

The Fly suggests Village Council members begin walking Ridgewood’s Central Business District on a regular basis. Empty parking spaces are now a commonplace sight, as are vacant storefronts. Take a close look around Mayor Pfund! Why spend millions for more parking and more retail when we don’t need it?

The Fly suggests Council members scrap plans for this insane project and divert any currently unused funds to pay for continued public safety and public works services.

Kill the garage to keep municipal jobs!

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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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