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North Jersey Media Group

North Jersey Media Group

Can tax credits revive $100M plan to turn old Paterson factory into apartments?

North Jersey Media Group
Summary
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80% Informative

The City Council voted Tuesday night to give its support to the developers’ application for Aspire tax credits.

Mayor Andre Sayegh and the original developers announced the project in 2020 with a “Paterson beach party” publicity stunt.

At the time, officials said they expected that the new apartments would open in 2025 .