The saga of the Roche closing in Nutley continues.
This is a 20 acre campus — ordinary residents that are middle class (again the phrase that pays, so to speak) are wondering what will happen to their property taxes now that Roche is departing the town.
This will murder their tax base.
And again, this is a very good example of how the middle class drives everything. These were, at best, middle class jobs in that campus — and the middle class owns all of the houses in that town. There is a tony section of that town but it is mostly resoundingly middle class.
I expect nothing to be built there.
The ole Ford plant in Linden shut down years ago; all that is there is a Sam’s Club and one other retail store.
And I expect the same for nearly every large campus, vacated by a large company. This is not the time to build; we do not have full consumerism and we will not have it for months and months to come. We’re approaching Year 5 of a recession (never over in my opinion) and we still have 10%/20% unemployment. Nobody is buying homes and nobody is buying anything in stores.