CHATHAM, NJ - The Borough of Chatham Council approved the hiring of Robert S. Powell Jr. as a real estate financial advisor for the River Road Redevelopment Project at its regular meeting on Monday night.
Chatham Borough Mayor Thaddeus Kobylarz said that Powell, a principle of the Princeton-based firm Nassau Capital Advisors, will be working on the River Road Redevelopment financial feasibility. He will also be tasked with determining the impact the project will have on district schools.
"The principle of the firm is Dr. Robert Powell, who I described last time as the clear standout of the five interviews conducted for this position," Kobylarz said. "Dr. Powell has extensive experience in analyzing financial feasibility of real estate development projects and advising municipalities undertaking real estate redevelopment projects."
Mayor Kobylarz detailed the six aspects of the project that Powell will be reporting on to the borough and the public about the River Road Redevelopment in the video below.
"Dr. Powell is clearly adept at rendering complex matters comprehensible," Kobylarz said. "Because of this skill, we intend to have him appear at one or more town halls to present his findings and also answer questions from the audience."
Kobylarz noted that Powell will be unable to work on the Post Office Plaza Redevelopment, so the borough will be seeking a separate advisor for Post Office Plaza.
"In addition, we are searching for a second municipal planner to provide possible alternative visions for Post Office Plaza," Kobylarz said.