Hackensack-based commercial developer Sanzari announced Thursday it is seeking approval to build a 342,000-square-foot, 14-story office building at the Glenpoint Centre in Teaneck.
Sanzari is already approved for an eight-story building, but a representative of the company is asking the town council for additional space. The added space could result in a $1.7 million tax boom for the town, according to The Record.
According to the report, Teaneck officials are encouraging a revenue boost through development instead of a tax hike on residents.
The 500 Frank W. Burr Blvd. complex, which is the township's largest taxpayer, generates over $4.7 million a year in revenue. The site consists of luxury townhouses, offices, hotels and a conference center, the report said.