Paterson developer putting up $6 million mixed-use building on Carroll Street | Paterson Times

Paterson developer putting up $6 million mixed-use building on Carroll Street


A $6 million mixed-use development, featuring two retail spaces and 40 apartments, has been approved for the corner of Carroll Street and Godwin Avenue.

The five-story building will contain 15 parking spaces, a building lobby, common area, and two commercial spaces on the first floor. Upper floors will each contain 10 apartments — 2 studio, 6 one-bedroom, and 2 two-bedroom units, according to plans submitted to the municipal government.

One commercial space contains 1,374 and the second contains 473 square feet of space. Both have separate restrooms and mechanical rooms. The city approved the development with conditions.

The developer is barred from renting the retail spaces to bars, liquor stores, bodegas, or laundromats, types of businesses that are known to further destabilize distressed neighborhoods,  according to members of the Planning Board, which approved the project on Aug. 1.

“We’re fine with that,” said prominent developer Charles Florio. His firm, JCM Investors, is undertaking the project. “I’d love to have a coffee shop there.”

Apartments range from 448 to 924 square feet, according to information submitted to the government. Florio needed to provide 44 parking spaces for the development. He is providing 15. He was granted a waiver for the parking requirement.

The project is in one of the roughest corners in the crime-ridden 4th Ward. The developer plans to install security cameras throughout.

Much of Florio’s real estate portfolio is located in the 4th Ward. He owns thousands of apartments in the 1st, 4th, and 5th wards.

Florio said he expects to have the building completed in 12 months. He has to demolish an existing three-and-half story building before breaking ground on the new project.

Email: [email protected]