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The City Planning Board approved a 254-unit high-end residential building with a 6,000 square foot public plaza at 360 Main Street, officials announced on Wednesday, May 15.
The building has been vacant since the YMCA closed in 2022 after 90 years.
Once fully leased, the "landmark project" is expected to generate more than $1 million in annual tax revenue on a formerly tax-exempt site, while creating an estimated 1,000 construction jobs, according to a news release issued this week. The funds will support vital public services and infrastructure improvements, reinforcing Hackensack’s financial stability and future growth, it says.
“While the former YMCA building holds sentimental value for many in our community, we are thrilled to see this site poised for a transformative new chapter,” Hackensack Mayor John Labrosse said.
“These redevelopment projects not only enhance our cityscape but also contribute significantly to our economic vitality, and the YMCA will continue to remain active in the Hackensack community by serving residents at its New Milford location for years to come.”
Daily Voice has reached out to Labrosse for further details on the project.
“The approval of this project represents a significant moment for Hackensack’s economic future, as this site’s transition from a tax-exempt property to a revenue-generating use will also bring more vitality to our downtown,” Deputy Mayor Kathy Canestrino said. “This project will provide much needed funding for essential services that further contribute to the city’s overall financial stability.”
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