For almost two decades, Bloomfield Township sought to address a shortage of parking in — and to breathe new life into — its downtown, taking advantage of its proximity to major thoroughfares like the Garden State Parkway and Bloomfield Avenue, and to the Bloomfield Train Station.
MSB worked with the Township to create the Bloomfield Parking Authority in 2003, which set about realigning existing public parking facilities in the Township and creating new ones, establishing rational parking rates and administering sensible parking enforcement.
We served as bond counsel to the Township and the Parking Authority in connection with the Township’s general obligation debt and with the Authority’s revenue-backed debt that helped finance the construction of the parking garage. We also served as redevelopment counsel to the Township during negotiations with the designated redeveloper. The site formerly contained a variety of small, disconnected retail stores and apartments, and surface parking facilities. It now includes 224 high-class rental apartments over almost 60,000 square feet of retail/commercial space surrounding a four-story parking garage, and has brought a sense of vitality and life to this critical area of the Township.
For more information on this project, please contact Joseph Baumann, Member, at (973) 622-1800.