Weekly News (May 31, 2017)

1. Fort Lee, NJ, Public Parking Deck construction begins mid June, 2017

  • New Parking Deck at the current public parking on the Main St.
  • Will complete June 2018 → 220 spaces increase (Total 632 spaces)
  • During construction, alternative parking → Madonna Church parking, 2062 Lemoine Ave (near Hudson Lights)

2. Palisades Park, NJ elected new Chairperson (15th) for Palisades Park Chamber of Commerce  

  • YoungMin Chung (President, Redeemer Academy)
  • Former chairperson: JeeSoo Han (Pine Plaza)

3. Hard Rock Int’l took over Trump Taj Mahal casino for $50 Million in March 2017

  • Trump had spent $1.2 Billion to open it in 1990 → Car Icahn tried to shut down in Oct, 2016 → He breached Union contract
  • Chairman Jim Allen who worked for Trump before, is planning to spend $350 Million ~ $500 Million to renovate → scrub the influence of Trump → Open up again summer 2018
  • Jim All is making sure there is Union issue with Rock Hard

4. New Apartment building in Williamsburg will be completed this summer

  • 325 Kent Ave (Former Domino Sugar Factory) / 16 stories 522 units
  • Start lease in June / Studio: $2495, 1Br: $3250, 2Br: $5195
  • Currently median price for new apartment → $3,300

5. New Jersey, population influx → #1 : Lebanon in Hunterdon Co

  • US Census 2010 ~ 2016 report shows the following influx
    Lebanon in Hunterdon Co: 1,663 (21.7%) / Weehawken in Hudson Co:2,572(20.5%)
    Harrison in Hudson Co: 16,231(19.9%) / Riverdale in Morris Co:4,253(19%)
    Secaucus in Hudson Co:19,882(18.7%) / Woodridge in Bergen Co:8,600(12.6%)
    East Rutherford in Bergen Co: 9,856(10.4%)
  • New Jersey statewide: 153,000 increase (1.7%) for last 7 years.

6. House price continually upward mode nationwide 

  • According to Case-Shiller index, 186.95(March) → 5.8% Up
  • 20  Big City: 195.39 (5.9% Up) / 10 Big City: 209.11 (5.2% Up)
  • Hot area: Seattle (217.79: 12.3% Up), Portland, Dallas
  • New York Metro area show weakest gain because already price is high compared to median income
  • Reasons: Low inventory,  Still Mortgage Interest Rate → about 4%
  • With Trump new tax reform → house price might be dropped in big cities

7. Increase of obtaining non-immigration US Visa in Korea after 7 years 

  • 2015~2016 Fiscal Year non-immigration visa: 77,370 from 73,402 (5.4% Up)
  • Since 2008 (Korea → No entry visa country), about 10,000 decreased each year
  • Student(F): – 6.8%, Exchange(J): + 5.1%, Tour (B-1/2): + 67.1%, Work(L): – 7.4%, Trading/Investment(E): – 0.6%, Art/Athletic(P): + 26.7%, Vocational School(M): + 17.6%, Specialist(O): + 10.7%

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