FOR SALE | 108,000 SF | 4-STORY LOFT 468 Totowa Ave ,

OPPORTUNITY ZONE URBAN ENTERPRISE ZONE

Michael G. Walters, SIOR Richard Van Houten Cameron Silverstein 201 488 5800 x143 201 406 0600 201 488 5800 x115 && [email protected] [email protected] [email protected]

FOLLOW US! | Member of NAI Global with 400 Offices Worldwide 195 North Street, Suite 100 • Teterboro, NJ 07608 | 201 488 5800 • 10 Lanidex Plaza W., Parsippany, NJ 07054 | 973 463 1011 • naihanson.com

THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES CONSIDERED TO BE RELIABLE, BUT NO GUARANTEE OF ITS ACCURACY IS MADE BY NAI JAMES E. HANSON. 468 Totowa Ave BUILDING PATERSON, NEW JERSEY INFORMATION

BUILDING ADVANTAGES The unique configuration of this building, offers maximum flexibility to create complimenting environments whose uses feed the purposes of the total complex. These can include a Live - Work - Entertain & Relax type environment in a self contained complex. The four story 80,000 square-foot loft building, combined with almost 30,000 square feet of additional first floor open space, provides a clean palette to produce a valuable real estate investment. 108,000 SF available (80,000 SF, 19,000 SF and 7,000 SF) 80,000 SF has 4 floors at 20,000 sf each - top floor clear span 19,000 SF single story with an oversized drive-in door - 14’ clear span 7,000 SF has exterior entrance at the lower level on the NE corner Loading: 5 tailgates serve the buildings with a common receiving area Single freight elevator adjacent to the receiving area serves the multi-story building Situated on 1.9 + acres. All buildings are fully sprinklered

LOCATIONAL ADVANTAGES Adjacent to a new, fully funded $70 million mixed-use complex. Click here to read more about the Project Adjacent to a newly acquired 8.4 acre hilltop, Vista Park, purchased and preserved by the State of New Jersey in perpetuity. The only access to this park is alongside 468 Totowa Avenue. Click here to learn more about the Vista Park plan The new pro-business Mayor is focused on significant initiatives to improve the City of Paterson. Click here to read more about Paterson Mayor’s plan for $130 million state tax credits Adjacent to the Great Falls National Historic Park. Visitors for 2018 exceeded 400,000, with expected FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR growth to 1 million visitors Economic Incentives: Opportunity Zone, Urban Enterprise Zone, NJ Growth & Redevelopment Zone Zoning Possibilities. Permitted uses include, but are not limited to Residential (allows living and working in the same space for artists), Self-Storage, Warehouse/Storage Incubator, Venue Space (Hosting events from weddings, business functions and studio use for photo shoots and filming) Convenient access to major highways, public transportation and NYC: • NYC: 17.2 miles to Lincoln Tunnel • Route 80: 0.9 miles (4 minutes) • NJ Transit Main Line Paterson Train Station: 1.1 miles (4-5 minutes) • NJ Transit Bus: Walking distance to multiple bus routes serving this location

&& - 2 - 468 Totowa Ave PROPERTY PATERSON, NEW JERSEY p h oto s

Building Front Loading / Tailgates

1st Floor - Warehouse 3rd Floor - East Wing FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

Top Floor - West Top Floor - West Wing DECORATED

&& - 3 - 468 Totowa Ave BUILDING PATERSON, NEW JERSEY p l an s

LOWER LEVEL

FIRST FLOOR SECOND FLOOR THIRD FLOOR FOURTH FLOOR FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

&& - 4 - 468 Totowa Ave PROPERTY PATERSON, NEW JERSEY s u rv e y FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

&& - 5 - 468 Totowa Ave DEMOGRAPHICS PATERSON, NEW JERSEY 1-3-5 mile radius

Regional Map

1 Mile

3 Miles

5 Miles

POPULATION 1 MILE 3 MILES 5 MILES Total population 59,125 247,937 499,271 Population (5 Yr. Forecast) 61,369 257,493 518,227

HOUSEHOLDS 1 MILE 3 MILES 5 MILES Families (current) 17,759 80,004 166,903 Median Age of Householder 48 52 52 Housing Units 19,366 85,340 175,809 FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

HOUSEHOLD INCOME 1 MILE 3 MILES 5 MILES Average household income $55,463 $86,482 $109,213 Family high income average $192,391 $269,402 $285,029

CONSUMER EXPENDITURES 1 MILE 3 MILES 5 MILES Total Consumer Expenditures $880,301,000 $4,796,044,000 $11,199,197,000

&& - 6 - 468 Totowa Ave LOCATION PATERSON, NEW JERSEY map

468 TOTOWA AVE 17.2 Mi. | 25 Mins. PATERSON, NJ To NYC via Lincoln Tunnel

interstate HINCHLIFFE 0.9 Mi. | 4 Mins. STADIUM VALLEY OF 80 To I-80 Interstate Highway THE ROCKS

PATERSON GREAT FALLS NATIONAL HISTORICAL PARK FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

INTERSTATE 80 PATERSON, NJ

&& - 7 - 468 Totowa Ave SURROUNDING PATERSON, NEW JERSEY development

468 TOTOWA AVE VISTA PARK SITE PATERSON, NJ CLICK TO LEARN MORE

HINCHLIFFE STADIUM • $70 MILLION MIXED USE COMPLEX FULLY FUNDED MIXED USED COMPLEX INCLUDES • INCLUDES RENOVATION OF • RESTAURANT/RETAIL THE 7,800 SEAT STADIUM • GALLERY SPACE FOR THE • INCLUDES MIXED USE HISTORY OF THE NEGRO LEAGUE COMPLEX AS SHOWN • 300 SPACE PARKING STRUCTURE HERE • 80 APARTMENTS ABOVE FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

&& - 8 - 468 Totowa Ave VISTA PARK PATERSON, NEW JERSEY CONCP E T 3

468 TOTOWA AVE PATERSON, NJ FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

&& - 9 - 468 Totowa Ave LAND USE PATERSON, NEW JERSEY districts

468 Totowa Ave PATERSON, NEW JERSEY FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

&& - 10 - 468 Totowa Ave ZONING PATERSON, NEW JERSEY DISTRICT STANDARDS information

AR ADAPTIVE REUSE DISTRICT Parking AR Adaptive Reuse District Bulk Standards Intent • The following off-street parking shall be Minimum Lot Area None required. Minimum Lot Width None The Adaptive Re-Use District is intended to provide Д Retail stores and personal service Minimum Front Yard1 Existing building for the re-use of existing historic buildings by businesses: One (1) space per one- footprint shall be adapting them to house residential units and thousand (1,000) square feet. maintained compatible commercial uses. The intent of this Д Business and professional offices: One Minimum Side Yard1 Existing building district is to maintain the existing buildings to the (1) space per one-thousand (1,000) footprint shall be greatest extent feasible, while allowing them to be square feet. maintained utilized to meet community needs. Д Financial institutions: One (1) space 1 per one-thousand (1,000) square feet. Minimum Rear Yard Existing building Principal Permitted Uses Д Restaurants: One (1) space per eight footprint shall be (8) seats. maintained • Multi-family residences. Д Residences: One (1) space per Maximum Building New construction may • Retail stores and shops. residential unit. Height2 extend a maximum • Personal service businesses. Д Hotels: One (1) space per guest room. of two (2) stories or • Financial Institutions. • Off-street parking may be provided off-site on twenty-five (25) feet • Business or professional offices. another parcel that is located no greater than above the existing • Hotels. three-hundred (300) feet from the property. building roofline. • Restaurants (excluding drive-in or drive-thru Maximum Building Existing building restaurants). Coverage footprint • Public Facilities. Area, Yard, and Building Requirements • Mixed Use Development of any combination Maximum Impervious None of the principal permitted uses. See AR Adaptive Use District’s Bulk Standards Chart Surface Coverage

FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR 1. New Construction or additions to the existing buildings may extend beyond the existing Accessory Uses building footprint by no more than four (4) feet.

• Off-street parking 2. New construction above the existing roofline • Any uses customarily incidental and accessory must be set back a minimum of ten (10) feet to the principal permitted uses(s) of the from the existing roofline on all sides. property

&& - 11 - 38 HEYER, GRUEL & ASSOCIATES 468 Totowa Ave ZONING PATERSON, NEW JERSEY map

1ST AVE Hawthorne Borough 2ND AVE Bunker Hil MU E. 19TH ST Zoning Map Prospect Park Phase IV Borough I-2 R/C-3 I-2

E. 24TH ST Bunker Hill R-3 E. 17TH ST Wayne Township 4TH AVE Haledon Borough Phase I, II, III E. 11TH ST City of Paterson, NJ 5TH AVE ERIE ST B-1 I-1 E. 16TH ST HALEDON AVE Fair Lawn Borough CARBON ST 6 TH AVE SHADY ST 6TH AVE

E. 5TH ST 468 Totowa Ave WAIT ST BUTLER ST R-3

E. 7TH ST PATERSON, NEW JERSEY E MAIN ST 7TH AVE R-4 R-2 RIVER ST R-2 R-2 HOPPER ST PUID I-1 BURHANS AVE N 7 TH ST N. BRIDGE ST E. 23RD ST R-2 E 18TH ST R-1 B-1 TEMPLE ST PUTNAM ST N. 6TH ST MU B-2 R-1 R-4 N. 4TH ST N. 1ST ST KEEN ST R-2 9TH AVE B-2 CLIFF ST FRANKLIN ST W BROADWAY LAFAYETTE ST HOLSMAN ST REDWOOD AVE MARION ST 1st Ward OXFORD ST BRIDGE ST River LAWRENCE ST 10TH AVE GRANITE AVE R-1 MU Corridor E. 26TH ST E. 28TH ST SHERMAN AVE E16 TH ST

LINWOOD AVE R-2 MATLOCK ST MU ROSA PARKS BLVD

MADISON AVE

B-1 FULTONST B-3 4th Ward 11TH AVE WAYNE AVE B-2 R-3 R-4 HAMILTON AVE 12TH AVE E. 36TH ST R-2 R-3 MEMORIAL DRIVE Redevelopment Districts LENOX AVE MU PARK RD PREAKNESS AVE RYLE RD AUBURN ST E. 22ND ST FAIR ST E. 38TH ST EDWARD ST

B-2 E. 30TH ST Zoning CHAMBERLAIN AVE BROADWAY AVENUE E 33RD ST EMERSON AVE LIBERTY ST VAN HOUTEN ST E. 19TH ST B-2 NJ 4 B-1 MAIN ST /ROUTE 509 R-1, R-2, R-3, R-4: R-3 H-1 MU ELLISON ST Residential B-2 PEARL ST RICHMOND AVE B-4 CBD 14TH AVE R-1 MAITLAND AVE CROSBY AVE Center City 16TH AVE E. 23RD ST R/C-3: High Medium TOTOWA AVE GFHD HAMILTON ST 5th Ward E. 27TH ST

MAPLE ST WALL AVE JERSEY ST Density Mixed Use District E. 32ND ST R-2 DERROM AVE R-2 ELM ST R-1 R-4 MARKET ST E. 25TH ST FRONT ST B-3 SPRUCE ST 17TH AVE Elmwood B-1, B-2, B-3, B-4: Business UNION AVE R-4 B-1 PARK AVE ELBERON AVE Park

GFHD: Great Falls Historic E. 19TH ST B-2 E. 29TH ST Borough OAK ST B-1 MU B-2 DALE AVE District E. 35TH ST R-4 SUMMER ST MCBRIDE AVE E. 24TH ST 18TH AVE 19TH AVE I-1 E. 40TH ST E. 42ND ST H-1: Hospital I-1 I-1 R-3 B-3 E. 31ST ST GRAND ST R-4

STRAIGHT ST R-4 R-4 NJ 19 R-2 E. 33RD ST I-T, I-1, I-2: Industrial I-1 BEECHST R-3 I-1 20 TH AVE B-3 E. 41ST ST

E. 37TH ST B-1 NJ 20 R-3 E. 39TH ST MU I-80 MU: Mixed Use NAGLE ST I-80 B-2 E. 28TH ST 20TH AVE Totowa Borough RAMSEY ST I-1 Garret E. 34TH ST MU E. 21ST ST B-1 PUID: Planned Unit District FR I-80 WB to I-80 WB 21 ST AVE Heights CHADWICK ST R-3 R-1 PLUM ST NJ 20 R-3 R-3 NJ19 R-3 E. 23RD AVE 22ND AVE I-2 I-1

E. 32ND ST

E. 25TH ST Area 11 E. 30TH ST B-3 R-3 FR CO 649 to I-8023RD EB AVE HINE ST R-2 TRENTON AVE B-2 I-1 FR RAMP to I-80 WB I-2 FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR ALABAMA AVE ELIZABETH I-2ST LAKEVIEW AVE SUSSEX STCOURT ST FLORIDA AVE BARCLAY ST MARYLAND AVE ATLANTIC ST E RAILWAY AVE ILLINOIS AVE

R-3 MU WABASH AVE B-1 VERNON AVE R-1 LEHIGH AVE GETTY AVE Woodland Park Borough RARITAN AVE R-3 B-3 0 1,250 2,500 Feet US 46 µ MU PAXTON ST R-2 B-2

HAZEL ST B-3 B-2 R-2 B-1 HEYER GRUEL & ASSOCIATES R-3 MAIN ST I-T R-2 January 2016 R-2 Clifton Source: NJGIN, NJOGIS, NJDEP, CROOKS AVE 2012 Paterson Master Plan

&& - 12 - 468 Totowa Ave OPPORTUNITY PATERSON, NEW JERSEY zone map

https://njdca.maps.arcgis.com/

468 Totowa Ave PATERSON, NEW JERSEY FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

&& - 13 - 468GROW Totowa NJ Ave GROW NJ PATERSON, NEW JERSEY GROW NJtax incentive program Tax IncentiveTax ProgramIncentive Program GROW NJ GROW NJ Tax IncentiveTax ProgramIncentive Program

A powerful job creation and retention program, Grow NJ helps qualified companies, both large and small, locateA powerfulor expand job creation in andNew retention Jersey. program, Grow NJ helps qualified companies, both large and small, locate or expand in New Jersey. Companies in all industries may qualify for tax breaks under the Grow NJ Assistance Program. Companies in all industries may qualify for tax breaks under the Grow NJ Assistance Program. Technology start-ups and Technology manufacturersstart-ups may and qualify manufacturers for tax incentives by creating may as qualifyfew as 10 full-time for tax jobs orincentives retaining 25 full-time by creating jobs. Companies as few as 10 full-time jobsin targetedor retaining industries 25may qualifyfull-time by creating jobs. as few Companies as 25 new jobs or in retaining targeted 35 jobs. industries may qualify by creating as few as 25Tax newcredits forjobs qualified or retainingprojects range from35 jobs.$500 to $5,000 per job, per year, over 10 years. A number of bonus credits, each ranging from $250 to $5,000 per job, per year, may be available if the project meets certain requirements, such as location

FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR Tax credits infor an urbanqualified area, or high projects job-creation range levels. Maximum from awards $500 can to reach $5,000 as high as $15,000per job, per job, per per year.year, over 10 years. A number of bonus credits, each ranging from $250 to $5,000 per job, per year, may be available In Garden StateA Growth powerful Zones job (GSGZ)creation – and Camden, retention Trenton, program, Passaic, Grow Paterson NJ helps and qualified Atlantic Citycompanies, – and 8 Southboth large Jersey and counties, small, locate or expand if the projectminimum meets full-time certainin New employment Jersey. requirements, requirements are 1/4such lower asand minimumlocation capital in investmentan urban requirements area, areor 1/3 high lower. job-creation levels. MaximumProjects mayawards qualify by can either creatingreach or as retaining high full-time as $15,000 jobs. per job, per year. Companies in all industries may qualify for tax breaks under the Grow NJ Assistance Program. Technology start-ups and The highest levels of base credits are for projects located in Garden State Growth Zones, Urban Transit Hub Municipalities In Garden State Growthmanufacturers Zones may (GSGZ) qualify for tax – incentives Camden, by creating Trenton, as few as 10 Passaic, full-time jobs orPaterson retaining 25 full-time and jobs.Atlantic Companies City and large-scalein or targeted “mega” projects.industries may qualify by creating as few as 25 new jobs or retaining 35 jobs. – and 8 South Jersey counties, minimum full-time employment requirements are 1/4 lower and minimum capital investmentTax credits for requirements qualified projects range are from 1/3 $500 lower. to $5,000 Projects per job, per year, may over qualify10 years. A bynumber either of bonus creating credits, each or ranging from $250 to $5,000 per job, per year, may be available if the project meets certain requirements, such as location retaining full-time jobs.in an urban area, or high job-creation levels. Maximum awards can reach as high as $15,000 per job, per year. The highest levels of Inbase Garden Statecredits Growth are Zones for (GSGZ) projects – Camden, Trenton,located Passaic, in PatersonGarden and AtlanticState City Growth – and 8 South Zones, Jersey counties, Urban minimum full-time employment requirements are 1/4 lower and minimum capital investment requirements are 1/3 lower. Transit Hub MunicipalitiesProjects mayand qualify large-scale by either creating or or “mega” retaining full-time projects. jobs. The highest levels of base credits are for projects located in Garden State Growth Zones, Urban Transit Hub Municipalities and large-scale or “mega” projects.

&& - 14 - 468 Totowa Ave GROW NJ PATERSON, NEW JERSEY tax incentive program AREAS OF ELIGIBILITY GARDEN STATE GROWTH ZONES (GSGZ) PRIORITY AREAS Camden, Atlantic City, Trenton, Paterson and Passaic • Planning Area 1 (Metropolitan), Planning Area 2 (Suburban), a designated center under the State Development and MEGA PROJECTS GROW NJ Redevelopment Plan or a designated growth center in an • Logistics, manufacturing, energy, defense, or maritime endorsed plan; businesses in a port district or businesses in the aviation GROW• Areas that intersect NJ with portions of: a deep poverty industry located Taxin an aviation Incentive district with: 1) capital Program Tax Incentivepocket, a port Program district, or federally owned land approved investment of $20 million+ and 250 jobs created or for closure under a federal Base Realignment Closing retained; or, 2) 1,000 jobs created or retained. Commission action; • Businesses located in an Urban Transit Hub with capital • Proposed site of a disaster recovery project, a qualified investment of $50 million+ and 250 jobs created or retained. incubator facility, a highlands development credit receiving • A project located in an existing area designated in need of area or redevelopment area, a tourism destination project, redevelopment within Atlantic, Burlington, Camden, Cape or transit oriented development; May, Cumberland, Gloucester, Ocean or Salem counties • Areas that contain a vacant commercial building having having a capital investment in excess of $20 million, and over 400,000 s.f. of office, lab, or industrial space available at which more than 150 full-time employees are created or for occupancy for a period of over one year; or a site that retained. has been negatively impacted by the approval of a Hub- DISTRESSED MUNICIPALITIES supported project. A municipality that is qualified to receive assistance under OTHER ELIGIBLE AREAS the Municipal Urban Aid Program; is under the supervision Areas not located within a distressed municipality or priority of the Local Finance Board; identified by DCA to be facing area, including an Aviation District; Planning Area 3; certain serious fiscal distress; a SDA municipality; or a municipality portions of Meadowlands, Pinelands and Highlands; and boasting a major rail station. certain portions of Planning Areas 4A, 4B & 5. EMPLOYMENT REQUIREMENTS MINIMUM FT EMPLOYMENT REQUIREMENTS NEW/RETAINED FT JOBS Tech Start Ups and Manufacturing Businesses 10/25 Other Targeted Industries 25/35 All Other Businesses/Industries 35/50 FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR Minimum employment numbers are lowered to 3/4 in GSGZs and in eight South Jersey counties: Atlantic, Burlington, Camden, Cape May, Cumberland,A powerful job Gloucester,creation and retention Ocean, program, Salem: Grow NJ8/19; helps 19/27;qualified 27/38,companies, respectively. both large and small,In the locate case or expand of any fractional total, the minimumin New employment Jersey. total will be rounded up to the next largest whole number. Companies inCAPITAL all industries INVESTMENTmay qualify for tax breaks REQUIREMENTS under the Grow NJ Assistance Program. Technology start-ups and manufacturers may qualify for tax incentives by creating as few as 10 full-time jobs or retaining 25 full-time jobs. Companies MINIMUM CAPITAL INVESTMENTin targeted industries REQUIREMENTS may qualify by creating as few as 25 new jobs or retaining 35 jobs. $/SQUARE FOOT Industrial, Warehousing, Logistics and R&D – Rehabilitation Projects $20 Tax credits for qualified projects range from $500 to $5,000 per job, per year, over 10 years. A number of bonus credits, each Industrial, Warehousing, Logisticsranging from and $250 R&D to $5,000 – New per job, Construction per year, may be Projectsavailable if the project meets certain requirements,$60 such as location Other – Rehabilitation Projectsin an urban area, or high job-creation levels. Maximum awards can reach as high as $15,000 per job,$40 per year. Other – New ConstructionIn Garden State Growth Zones (GSGZ) – Camden, Trenton, Passaic, Paterson and Atlantic City – and$120 8 South Jersey counties, Minimum capital investmentminimum amounts full-time are employment lowered requirements to 2/3 in are GSGZs 1/4 lower and and inminimum eight capitalSouth investment Jersey requirementscounties: areAtlantic, 1/3 lower. Burl - ington, Camden, Cape May,Projects Cumberland, may qualify by eitherGloucester, creating or Ocean, retaining full-time Salem. jobs. In the case of any fractional total, the minimum capital investment will be Therounded highest levelsup to of basethe nearestcredits are penny.for projects located in Garden State Growth Zones, Urban Transit Hub Municipalities and large-scale or “mega” projects.

&& - 15 - UEZPROGRAMINFORMATION

New Jersey’s Urban Enterprise468 Zone Totowa (UEZ) Program, AveBENEFITSTOBUSINESSES enacted in 1983, is an Affiliate of the Department of UEZ Community Affairs. ThePATERSON, Program’sUEZ charter NEWis to foster JERSEY • Reduced Retail Sales Tax – currently 3.3125% an economic climate that revitalizes designated URBANpENTERPRISErogZONESram • Tax Free Purchases on certain items such as capital urban communities and stimulates their growth by NewProgram Jersey’s Urban Enterprise Zoneequipment, (UEZ) Program, facility expansions, enacted in upgrades, 1983, isand an certain Affiliate of the Department of Community Affairs. The Program’s encouraging businesses to develop and create private charter is to foster an economic climatepersonal that property revitalizes designated urban communities and stimulates their growth by encouraging businesses sector jobs through public toandNew develop private Jersey’s investment.and Urban create Enterprise private Zone sector (UEZ) jobs Program, through enacted public in 1983, and private is an Affiliate investment. of the Department of Community Affairs. The Program’s• charterFinancial is to foster Assistance an economic from agencies climate suchthat revitalizes as NJEDA designated QUALIFICATIONSurban communities and stimulates• their Subsidized growth by encouraging unemployment businesses insurance to develop costs and for create QUALIFICATIONS Toprivate participate sector jobs in the through UEZ public Program, and private employeesa business investment. earning must: less than $4,500 / quarter To participate in the UEZ •Program, Register a business with the must: State of NJ• Energy Sales Tax Exemption for qualified manufacturing Qualifications • Register with the State• of BeNJ located within a designated UEZfirms with at least 250 full-time employees, http:// To participate in the UEZ Program, a business must: • Be in tax compliance with the Statewww.njeda.com/clean_energy of NJ phone: 866-534-7789 • Be Located within a designated• Register UEZ with the State of NJ • Tax Credit Options: • Be in tax compliance withBUSINESS• Bethe Located State CERTIFICATION of withinNJ a designated SYSTEM UEZ » Up to $1,500 for new permanent full-time Certification• Be in tax compliance applications with arethe Stateentered of NJonline using the UEZ Business Certification system, accessible through NJ Premier Business Services. employees hired, OR; BUSINESS CERTIFICATIONLinks to instructions,SYSTEM sample forms, worksheets, and helpful information are available on the UEZ website. Business Certification System » Up to 8% Corporate Business Tax credit on Certification ApplicationsJOBCertification are CREATION entered Applicationsonline AND using LOCAL theare entered HIRING online REQUIREMENTS usingqualified the UEZ investments Business Certification System, accessible UEZ Business CertificationUEZthrough System, businesses NJ accessiblePremier are Business through expected Services. to• help http://www.nj.gov/dca/affiliates/uez/publicationsLinks increase to instructions, employment sample in forms,the zone. worksheets, Within theand/ first helpful three years in the NJ Premier Business Services.Program,information Links toat are instructions,least available 25% on of the newly-hired UEZ Website. employees must meet one or more of the following criteria: sample forms, worksheets,• andResidents helpful information of any municipality with a UEZ are available on the UEZ Website:•Job NJ Creation residents And unemployed Local Hiring forRequirements at least six months prior to being hired UEZ businesses are expected to help increase employment in the zone. Within the first three years in http://www.nj.gov/dca/affiliates/uez/index.shtml• Recipients of New Jersey public assistance programs for at least six months prior to being hired the Program, at least 25% of newly-hired employees must meet one or more of the following criteria: •• DeterminedResidents of anyto be municipality low-income with individualsa UEZ pursuant to the Workforce Investment Act of 1998 JOB CREATION • NJ residents unemployed for at least six months prior to being hired AND LOCAL HIRINGBENEFITS REQUIREMENTS TO BUSINESSES •• ReducedRecipients rofetail New sales Jersey tax public - currently assistance 3.3125% programs for at least six months prior to being hired • Determined to be low-income individuals pursuant to the Workforce Investment Act of 1998 UEZ businesses are expected• Tax tofree help purchases increase on certain items such as capital equipment, facility expansions, upgrades, and employment in the LOFT | 4-STORY SF | 108,000 SALE FOR zone. Withincertain the personal first threeproperty Benefits To Businesses years in the Program, at • least• FinancialReduced 25% of newly-hiredRetailAssistance Sales Tax from – currently agencies 3.3125% such as NJEDA employees must meet one•• or SubsidizedmoreTax Free of the Purchases followingunemployment on certain insurance items such costs as capital for employees equipment, earfacilityning expansions, less than upgrades,$4,500/quarter criteria: • Energyand certain sales personal tax exemption property for qualified manufacturing firms with at least 250 full-time employees, • Residents of any municipality•• TFinancialax with credit a UEZAssistance options: from agencies such as NJEDA • NJ residents unemployed• forSubsidized at­>> leastUp sixtounemployment months$1,500 for newinsurance permanent costs for full-time employees employees earning less hir thane, OR; $4,500 / quarter prior to being hired • Energy­>> SalesUp to Tax 8% Exemption Corporate for qualifiedBusiness manufacturingTax credit on firms qualified with at investmentsleast 250 full-time employees, • Recipients of New Jersey• public Tax assistance Credit Options: programs » Up to $1,500 for new permanent full-time employees hired, OR; for at least six months prior to being hired » Up to 8% Corporate Business Tax credit on qualified investments • Determined to be low-income individuals pursuant NEW JERSEY to the Workforce Investment Act of 1998 URBAN ENTERPRISE && - 16 - ZONE PROGRAM www.nj.gov/dca/affiliates/uez 468 Totowa Ave PUBLIC PATERSON, NEW JERSEY PLANNING CONTEXT transporation

468 Totowa Ave PATERSON, NEW JERSEY FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR

22 HEYER, GRUEL & ASSOCIATES

&& - 17 - 468 Totowa Ave PUBLIC PATERSON, NEW JERSEY transporation

PUBLIC TRANSPORTATION SERVING 468 TOTOWA AVE There are three (3) NJ Transit bus routes that provide service within the First Ward Redevelopment Area.

• Route 703: This route runs between Haledon and East Rutherford, making stops in Carlstadt, Moonachie, Passaic City, and 703 Paterson. This route runs regularly throughout the week approximately every 30 minutes, and on weekends, making several stops along Belmont Avenue and West Broadway in between Haledon and the Meadowlands Sports Complex, which is its terminal destination. This route also connects to , making stops at the , and other points.

• Route 744: This route runs between Wayne and Passaic City, making stops in Haledon, Prospect Park, Paterson, and Clifton. 744 The route runs from the Preakness Shopping Center in Wayne, to the Main Avenue Terminal in Passaic. This route makes stops within the First Ward Redevelopment Area along Haledon Avenue and Presidential Boulevard. This route runs approximately every 30 minutes on weekdays and Saturdays from 6:00 am until 9:00 pm, and connects with Downtown Paterson and multiple points of interest in Wayne and Clifton as well.

• Route 748: This route runs between Wayne and Paterson, making stops in Paterson, Wayne, and Pompton Lakes. Local service 748 in the First Ward Redevelopment Area is provided along West Broadway. This route runs regularly once an hour on weekdays and Saturdays only.

From Downtown Paterson, either at the Broadway Bus Terminal or at the Ward Street Train Station, there are many other connections FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR throughout the region that can be accessed. NJ Transit Paterson Ward Street train station is approximately three quarters (3/4) of a mile from the First Ward Redevelopment Area, and the Broadway Bus Terminal is just south of the Area.

&& - 18 - 468 Totowa Ave PATERSON PATERSON, NEW JERSEY in the news

468 Totowa Avenue is adjacent to two proposed developments, but Paterson is going through a renaissance with many redevelopment projects in the works.

March 2019 Paterson moves to redevelop the former . The 3-story, 75,000 SF giant in the heart of the City’s 5th Ward will now be transformed into a 7’ mixed use residential-retail space with 138 living spaces, a nearly 3,500 SF restaurant space with outdoor dining, a pool and various recreational features. Click here to learn more about the Paterson Armory redevelopment plan

May 2019 Vista Park, purchased and preserved by the State of New Jersey in perpetuity. The only access to this park is alongside 468 Totowa Avenue. Click here to learn more about the Vista Park plan

May 2019 Center City Partners, the developer of , is seeking to partner with the New Jersey Economic Development Authority to advance a $100 million investment in Downtown Paterson. The project would consist of a “world class sports and entertainment arena,” hotel, plus other amenities Click here to learn more about the Downtown Sports and Entertainment Arena

June 2019 Hinchliffe Stadium Project: A fully funded $70 million mixed-use complex. Click here to read more about the Hinchliffe Stadium Project

June 2019 A new 850 space parking garage is set to be built at the Ward Street Garage site. Paterson Parking Authority and Mayor Andre Sayegh jointly announce the new redevelopment project. Click here to read more about the Ward Street Garage redevelopment project

June 2019 A 4-story, 59 unit building will be constructed on Cedar Street where a decades long vacant lot remained from where an industrial company once stood. FOR SALE | 108,000 SF | 4-STORY LOFT | 4-STORY SF | 108,000 SALE FOR Click here to read more about the Cedar Street plan

July 2019 The new pro-business Mayor is focused on significant initiatives to improve the City of Paterson. Click here to read more about Paterson Mayor’s plan for $130 million state tax credits

&& - 19 -