The Federal Reserve site

The Federal Reserve Bank of New York owns about 118 acres at 15 Mountain View Road, Block 8, Lot 2, the former Chubb Insurance headquarters. The township designated the property a non-condemnation redevelopment area in 2021 and adopted a redevelopment plan for it in 2024. The project is a Cash Services Center with an accessory law-enforcement training facility, not housing.

The Planning Board approved the original site plan, PB 25-01. This happened on June 9, 2025, according to later Township and Board records. LocalWhy has not reviewed the June 9 minutes. That approval covered demolition of all existing site improvements. It also covered construction of the cash services building, the training facility, secured loading and vehicle processing, a secured driveway entry, security fencing, parking, stormwater facilities, lighting, and signage.

On February 11, 2026, the Board approved an amended plan, PB 25-01A. The vote was 9–0 (OCR). The amendment reduced the cash services building from about 256,300 (OCR) to 250,900 (OCR) square feet. It reduced the law enforcement building from about 8,770 (OCR) to 2,454 (OCR) square feet. The main building height fell from 59 feet 2 inches (OCR) to 52 feet 3 inches (OCR). The taller storage portion rose to 69 feet 7 inches (OCR). This is within the plan’s 70-foot standard. The applicant’s attorney said the amendment needed no variances. The Board adopted the memorializing resolution on March 25, by a vote of 6–0 (OCR).

The Township Committee acted next. On April 16, 2026 it adopted Resolution 2026-125, 5–0 (OCR), with McCarey, Blick, Croson, Deputy Mayor Kian and Mayor Fine voting yes. It designated the bank as redeveloper and authorized a redevelopment agreement and a stormwater facilities maintenance agreement. On May 14 it adopted Ordinance 26-16, 5–0 (OCR), with McCarey, Blick, Croson, Deputy Mayor Kian and Mayor Fine voting yes; it releases and extinguishes an existing sanitary sewer easement and accepts a new one within the property.

The Township’s pending-applications page says that “due to the sensitive nature of the application for the Federal Reserve the plans will not be available online”. It directs visitors to the Land Use Office to review them. The office is open 9:00 a.m. to 3:30 p.m. weekdays. That page’s statement does not establish if copies are available elsewhere. LocalWhy has not reviewed the plans. No executed agreement or construction start appears in the records reviewed.