TOWN TOURS MADISON: Green Village Road: From school to condos
Editor's note:This is the third in a series of articles to be featured in a weeklong tour of the borough of Madison. The Daily Record will have extra coverage through Saturday of the borough, its people, its culture and its history.
MADISON – What was once a school will finally have a new purpose, and in less than two years Madison will have new tenants and businesses within walking distance of Main Street.
The Green Village Road School property has had many faces through the years, from school to theater, to offices and even one of the town's most popular sledding locations.
But after years of back and forth, soon ground will break on a facility that will bring new residents and businesses to Madison.
School beginnings
The Madison Board of Education first acquired the property that would become the Green Village Road School by purchasing two parcels of land from the Burnet family in 1944. A school building was completed in 1949, with additions built in 1955. Students kindergarten through sixth grade attended the school.
The building stopped being used as a school in 1976. It was not used at all until 1984 when it was in operation as Board of Education offices, school district storage, and home to the Playwrights Theatre until August 2011.
Playwrights currently houses their administrative offices in the basement of the Madison Civic Center, where they continue their arts education programs. They still produce plays and play readings at Fairleigh Dickinson University and in co-production with other theaters around the state.
Additional programs used the building prior to 2011 that paid rent included the Rainbow Montessori School. Nonprofits like the local Adult School used the facilities but were not charged.
Madison Mayor Robert Conley attended fifth and sixth grade at Green Village Road School, and said in recent years the dormant building has turned into an eyesore.
Thorough the years, the Board of Education routinely debated on what to do with the property, and when the school district decided to reconfigure the grades in the early 2000's Green Village Road School was considered a potential landing spot for sixth graders so the district wouldn't have to build additions onto three elementary schools.
Ultimately, the sixth graders went to the Madison Junior School where only one addition would have to be built.
"That's when it was made clear Green Village has no possible use as a school anymore," former Mayor Woody Kerkeslager said.
It was then determined the best course of action would be to sell the building, which in its current state is 25,280 square feet plus a 2,000 square foot unfinished basement.
Selling the property
A citizens committee was launched in 2005 with the goals of finding a way to make Green Village benefit the community, maximize the area while minimizing the tax burden, and provide educational value.
The committee appraised the potential value of the property. If the entire property including the recreational fields near Kings Road were sold as a school, it was valued at $3.4 million. Sold as a split property, a school and best use, it could net $4.5 to 5.125 million, $2 million of which would be for the school. If the property was rezoned, it could net $5 to 6.25 million for 5 housing units per acre or $8 to 9 million for 10 units per acre.
Originally the plan was to turn the property over to a nonprofit organization, but that fell through.
Kerkeslager said the Madison Arts and Culture Alliance placed a bid on Green Village and was the last standing bidder but ultimately did not have its bid accepted by the Board.
The committee rejected the first round of bidders after realizing they could rezone the area to include retail and residential properties, raising its value significantly.
The Board of Education transferred it to the borough to rezone it in 2010, though it was agreed the Board of Education would still take the majority of the profit from the sale.
"This is a great example of the Board of Education and borough to maximize the value and enhance the borough of Madison," Conley said. "If we didn't work together it would have sat there for years. Redevelopment gave us a great price."
Kerkeslager said there was no neighborhood resistance to the plan to build condos because the property is surrounded on two sides by churches and parking lots, and the residents of Green Village Road had their property values raised by the rezoning. The addition of a community theater and public parking helped sway opinion as well.
"There are still some details to be drafted but I haven't heard of any opposition yet," Kerkeslager said. "As a resident I'm anxious to see what the developer proposes in detail. As of now I've only seen drawings."
Last year, town and Board of Education officials surveyed a competitive request for proposal process and in May of this year, the committee chose Kushner Real Estate Group to develop the property.
"Madison should be very proud of this project on so many levels," Board of Education President Lisa Ellis said, crediting the partnership between the town and the schools with finally moving forward with the property. "The project that has been presented by KRE exceeds all our expectations and we can't wait to see it fully built."
Initially estimated to sell for about $2.5 million, the Madison accepted a $12 million bid from the KRE Group following the rezoning.
"It's a spectacular town located by a train station," said Jeff Persky of the KRE Group. "Who wouldn't want to live in Madison? It's a great town."
Of the $12 million, Conley said the Board of Education has already received $1 million. There will be one more payment of $1 million, and the remaining $10 million will be paid at closing.
Board of Education is receiving all $12 million, but it reached an agreement with the borough that it would give $1 million to the borough, which will go toward paying the Madison Recreation Complex in exchange for use of the fields.
"Then the other $11 million is for the Board to reinvest in the schools," Conley said.
Ellis said most of that money will be put toward a list of prioritized "capital projects" including infrastructure repairs and support for curricular, co-curricular and extra-curricular programs.
Assistant borough administrator Jim Burnet said in addition to the $12 million, $2 million will go to affordable housing projects in Madison.
Burnet said KRE was chosen because it had the best combination of design, financial plan, and high payment.
"I think this will be good for the town," Burnet said. "A great new asset."
A mixed-use building
It took a long time for the plan to come a reality, and after so many years many residents will undoubtedly remain cautious until KRE Group breaks ground on the property – or perhaps until residents actually start living at the finished location.
Persky said the completed building will be a mix-use property. It will hold 135 residential units, a to-be-determined combination of rentals and condominiums, in addition to community room, which will likely house the community space, public parking, and one or more restaurants. Having a community room and public parking were two provisions the borough placed in the initial proposal.
"Mixed use is the right kind of development," Kerkeslager said. "It's one block from the train station, perfect for transit-oriented development. It's rare to get five acres of land a block from the train."
Per the agreement, there will be a 3,000 square foot indoor community space, and an outdoor public space, a deal that is locked in for the next 30 years.
The indoor space will be used for the Playwrights Theatre, art shows, pop up stores, and more. The outdoor space will be used for various events including farmers markets.
"The project as presented is beautiful and will be a tremendous asset to this community," Ellis said. "The community spaces both interior and exterior are very intriguing and will provide a much needed venues to enhance local arts programming."
In all, the project will cost an estimated $50 million.
Persky said KRE already has permits for the redevelopment plan and zoning, and the Group is currently putting together a site plan application, which will need approval from the town.
That application will include a new plan with the units, roads, parking, an updated design, and amenities.
"Coming out of the gate the hurdles on this project were pretty high, but they've gotten lower and lower over time," Conley said. "I don't foresee any high hurdles ahead. As of now development is ahead of schedule."
Perskey said the application will be submitted to Madison within two to three months, and then they will wait for a borough hearing for approval.
"Assuming that goes well we will break ground by summer," Persky said. "The vast majority should be completed in a year's time."
Conley said he expects the borough to approve the application at the Nov. 4 meeting.
"In this day and age there will always be a few people saying 'I'll believe it when I see it,' but the fact is we already have $1 million in the bank and the developer is raring to go because this is a company that doesn't like to sit on their property," Conley said. "Some people may think they'll see that school ten years from now but soon it will be gone and construction will begin."
Staff Writer Michael Izzo: 973-428-6636; mizzo@dailyrecord.com
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