Demolition underway at former bank headquarters in Wayne, site of future housing
WAYNE — Wrecking crews have started to bulldoze two office buildings in the 5th Ward, where a developer will construct one of the largest housing complexes in the township.
AvalonBay Communities Inc. will build 473 units at the 17-acre property, at 1445 Valley Road and 1455 Valley Road. The site was the longtime headquarters of Valley National Bank before it moved 600 employees to central Morristown three months ago.
The project has been subject to years of fierce litigation between the developer and the township, mostly due to a perception that officials stalled negotiations.
However, the court battle raged even after the bargaining sessions were finished, and after a settlement was reached and a proposal approved by the Planning Board. A question over the need for an elevator in one of the new buildings was at the center of the latest dust-up.
On Friday, it appeared that nearly half of the demolition was complete.
Story continues below gallery.
The building on the south side of Barbour Pond Road was leveled to the ground as an excavator scooped up piles of debris to fill a dumpster. Meanwhile, there was a huge hole, like a crater, smashed in the rear facade of the building on the opposite side of the street. Crews were inside gutting the former cubicles and workstations to prepare for the imminent teardown.
Ronald Ladell, the senior vice president of AvalonBay, said the demolition will take up to 2½ months. Residents will begin to move into the housing complex by July 2025, he said.
Virginia-based AvalonBay owns or has an interest in 296 apartment complexes in 12 states and in Washington, D.C. Twenty-two of those developments are in New Jersey, including one about 8 miles away, off Union Avenue in Bloomingdale.
ATHLETE OF THE WEEK: Wayne Valley swimmer blossomed into a star at a young age
The housing complex in Wayne will have 55 townhouses in 11 buildings, plus 418 apartments in four buildings. Amenities will include a clubhouse, a playground and a swimming pool.
Seventy-one apartments will be for low-income households; 25 units will have three bedrooms and 46 will have two.
Philip DeVencentis is a local reporter for NorthJersey.com. For unlimited access to the most important news from your local community, please subscribe or activate your digital account today.
Email: devencentis@northjersey.com
This article originally appeared on NorthJersey.com: Valley Bank HQ in Wayne demolished to make way for affordable housing
