Aberdeen Plans to Move Forward with Train Station Redevelopment

The Aberdeen Township Council approved a resolution extending the conditional designation of Silver Oak Properties, Inc for 180 days as the redeveloper for the Aberdeen portion of the Aberdeen-Matawan NJ Transit Train Station at their regular action meeting Tuesday, Aug. 16.

The township plans to move forward with redeveloping the Aberdeen Commerce and Transportation Center, according to Aberdeen Mayor Fred Tagliarini.

At this time, there are no changes or advances in the plan. The purpose of the resolution is to extend the designation of Silver Oak Properties so they may communicate with NJ Transit, Tagliarini said.

According to Resolution No. 2011-97, Aberdeen adopted a resolution on Nov. 27, 2002 naming Silver Oak Properties as the redeveloper for the Aberdeen Commerce and Transportation Center Redevelopment Area for the development of a mixed used project.

The resolution states that the designation to Silver Oak was in part upon the recommendation of a joint committee comprised of members from both Aberdeen and Matawan. Matawan refused to follow the recommendation of the committee, according to the resolution.

Instead, according to an article printed in the Bayshore Courier in July of 2005, Matawan chose the Columbia Group.

According to the resolution, the selection of a different developer by Matawan led to litigation that was recently resolved. Aberdeen continued to move forward with the project despite the litigation and the contract for Silver Oak was extended on Dec. 9, 2004.

The resolution states that on March 9, 2009 Silver Oak was awarded the exclusive option to negotiate a redevelopment agreement with Aberdeen with a provision that said designation could be extended if substantive progress had occurred.

As per the resolution, Aberdeen and Silver Oak must negotiate, approve and execute a redevelopment agreement, which includes terms relating to the purchase of property and redeveloper contributions, within 180 days.

Additionally, Silver Oak has deposited $100,000 in an escrow account with the Township for payment of reasonable costs and consultant fees. Silver Oak is also responsible for replenishing that account, providing a detailed site plan along with a phasing plan for the site, and providing a fiscal impact analysis of municipal services required for the project.

Upon completion of the redevelopment agreement, the Aberdeen Township Council must then review and authorize the execution of any disposition and acquisition documents.

Preliminary ideas for the site include approximately 300 residential rental units in addition to shops and restaurants, according to Tagliarini. However, no specific plans have been set.