WOODCLIFF LAKE—The Borough Council voted unanimously Dec. 18 to approve a mediated settlement with Fair Share Housing Center and an intervenor that would permit 91 housing units — 73 market-rate townhouses and 18 affordable, age-restricted apartments — on the former Party City world headquarters site, 100 Tice Boulevard.
On Dec. 19, Council President Joshua Stern told Pascack Press the agreement was “a very good settlement that protects the borough.” The settlement will be folded into an amended Housing Element and Fair Share Plan due March 15, 2026, he said. Officials said a developer is expected to present a site plan application to the Land Use Board in 2026.
The council voted 6-0 in a 10-minute Zoom meeting to approve a resolution authorizing the settlement with Fair Share Housing Center and SIG 100 Tice LLC. Local officials, professionals and special affordable housing counsel met with the intervenors and a retired Superior Court judge to mediate the agreement.
“We worked very hard to keep the number down. It’s less than half what they were challenging us for,” Stern said.
Stern said the roughly 13-acre site would include 18 age-restricted (55+) affordable apartments built over 20,000 square feet of retail space connected to Tice Mall. He said SIG 100 Tice LLC initially sought nearly double the final unit count. Party City’s headquarters closed in early 2025 following a prior bankruptcy filing.
The plan also includes 73 townhouses, Stern said, with 25 designed with first-floor primary bedrooms. He said that may appeal to older, “multi-generational” buyers, “so we’re not inundated with school children,” he added.
Stern said tax revenue from the redeveloped site is estimated at $1.7 million annually once built — nearly double current receipts — and that the agreement keeps density to seven dwelling units per acre. He said SIG 100 Tice LLC will contribute $300,000 to the borough’s affordable housing trust fund.
Mayor posts settlement update
In a Dec. 21 update, Mayor Carlos Rendo said Stern, Councilwoman Nikki Marsh, Administrator Tom Padilla and special counsel Wendy Quiroga Rubinstein attended the Dec. 18 mediation with Fair Share Housing Center and a developer that sought up to 188 units.
He said officials “negotiated a settlement that cut the developer’s demand of 188 units by more than half and required additional changes to lessen the adverse impact on our community and our schools.” Rendo said the site should generate more than double its current property tax revenue of about $850,000 per year.
In addition to 73 townhomes and 18 age-restricted (55+) affordable apartments, the plan includes 20,000 square feet of ground-level retail space.
“While we preferred that this property remained commercial, at approximately 7 units per acre (some with age restrictions) plus the potential to double the site’s taxes, we believe that this was the best possible deal for the borough,” Rendo posted.
Stern said no developer has been publicly named. He said the settlement was read into the court record Dec. 18. Next steps include adopting ordinances by March 15 to implement the amended Housing Element and Fair Share Plan. After that, a developer would likely file a site plan application with the Land Use Board, triggering public hearings.
The meeting began online around 10 a.m., with the mayor and council entering closed session immediately. About 30 minutes later, the governing body returned to open session and approved Resolution 25-287 by a 6-0 vote.
Under the amended Fair Housing Act, the borough had until Dec. 31 to resolve challenges to its fourth-round Housing Element and Fair Share Plan. Pascack Press requested a copy of the mediated settlement agreement and will provide more details when it becomes publicly available.
The resolution states the agreement will be sent by the borough’s special affordable housing counsel to the state Dispute Resolution Program for review and referral to a Mount Laurel judge, which, if approved, would result in compliance certification for the borough’s fourth-round obligations.
Residents can find the borough’s fourth-round plan on the town website under Residents > Affordable Housing. It was not clear when an amended plan would be posted.