Hackensack approves plans for former YMCA site on Main Street. Here's what's coming

HACKENSACK — A seven-story, 254-unit apartment building is planned for the site of the former YMCA building on Main Street, a longtime city landmark that closed two years ago.

The city Planning Board approved plans last week for the mixed-use building at the corner of Main and Passaic streets, with roughly 6,200 square feet of retail space and more than 400 parking spaces.

A pool and courtyard are planned for the third floor, and the roof will feature a 3,800-square-foot terrace. The building will have a mix of studio apartments, one-bedrooms, one-bedroom units with a den, and two-bedrooms.

A 6,000-square-foot public plaza with features including vendor kiosks, public art, games, sprinkler areas and seating is also planned.

City officials said the development will bring in more than $1 million in tax revenue from what was once a tax-exempt property, when the building is fully leased.

“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," Mayor John Labrosse said. “These redevelopment projects not only enhance our cityscape but also contribute significantly to our economic vitality.”

The brick, three-story Colonial Revival YMCA building at 360 Main St. has been vacant since Greater Bergen YMCA moved to New Milford in March 2022 after more than 90 years in Hackensack.

Generations of area residents had spent their summers at the Y's camps and learned to swim at its pool. Leaders of the organization said the Y had outgrown the aging building, which needed repairs, and sold it to a developer.

But plans for the property were stalled after the initial developer, Secaucus-based National Realty Investment Advisors, filed for bankruptcy protection amid allegations the company defrauded investors.

The plans were significantly scaled back after a U.S. Bankruptcy Court judge's order last year transferred the sale of the building to CBD Hackensack Developer, a limited liability corporation.

An earlier redevelopment plan approved by the City Council in May 2022 called for a 14-story, 400-unit apartment building with retail space on the first floor to replace the YMCA building, as well as an auto body repair shop and a two-story law office on two smaller lots.

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A 30-year financial agreement, known as a payment in lieu of taxes, or PILOT, is anticipated, officials said. Developers in Hackensack’s redevelopment zone have the option to set aside 10% of the building’s units for low- to moderate-income housing or contribute 1.5% of the property’s assessed value to the city’s affordable housing trust fund, which is used to build new affordable housing in the city and rehabilitate existing units.

The development at 360 Main St. will pay into that trust fund and is expected to provide about $520,000, according to the tax assessor’s office. That number won’t be finalized until the developer submits permit applications, officials said.

Beyond the tax revenue the development is expected to generate, the project will create more demand for new and existing local shops and restaurants, said Albert Dib, the city’s redevelopment director.

“Downtown Hackensack is once again becoming a regional destination, and mixed-use projects like this are a big driver,” Dib said. “These projects help ensure the success of many locally grown businesses, something we have not seen in decades. The benefits to the local economy cannot be overstated.”

A smaller 107-unit mixed-use building was recently approved for 359 Main St., a vacant former bank across the street.

Officials called the project at the YMCA site a “major step forward” in advancing the city's long-term goals for redevelopment and revitalizing Main Street. The tax money from the development will support infrastructure improvements and public services, they said.

“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.”