Englewood, N.J., Looks to Redevelop Highway Industrial Tract.

By Guy T. Baehr, The Star-Ledger, Newark, N.J. Knight Ridder/Tribune Business News

Apr. 18--Local officials and a private developer said yesterday they are teaming up to turn an 60-acre highway industrial tract in Englewood into a $500 million project featuring hotels, stores, office buildings, apartments and townhouses.

Englewood officials announced at an afternoon news conference they signed a letter of agreement with S. Hekemian Kasparian Troast LLC to redevelop the tract next to Route 4 into a new neighborhood featuring its own trolley stop.

Michael Kasparian, president of the Paramus-based development company, said yesterday's announcement comes after ...

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