Demarest's Downtown Is Changing at Two Old Addresses: What's Coming to the Train Station and the Bank Building

Demarest's downtown is being remade at two addresses. One is the historic train station at 24 Park Street, which is becoming a restaurant called The Station. The other is the former bank at 129 Hardenburgh, which is set to become a mixed-use building. The Borough has a hand in both. The two will reach residents on different timelines, though, and the reason for the gap tells you what to expect next.

The station's lease was awarded last fall and its work is now happening inside the building. The bank building's concept plans have not yet gone before the public. Both updates come from the Mayor's Weekly Update of October 2, 2026. It describes a restaurant in the middle of its interior renovation and a redevelopment project that still needs its concept plans reviewed.

Why the Borough is driving this

Both projects grew out of a judgment the Borough made about its own center. In 2024, Demarest designated its commercial center an "area in need of redevelopment" under New Jersey's Local Redevelopment and Housing Law. The designation followed a Planning Board hearing on the condition of downtown. The January 12, 2026 Mayor and Council minutes record the reasons the Council President gave.

"This was based upon a Planning Board hearing regarding the condition of the downtown (dilapidated buildings, vacant storefronts, poor designs)."

The same minutes explain what the designation makes possible. The Borough can adopt a plan that permits mixed-use development, and it can offer economic incentives to bring in redevelopers whose plans match its own. The station and the bank are the first two buildings where those tools are being used. The Borough controls both, so the timing of each one runs through public meetings.

The station: a building older than the borough's downtown

Most people know the depot by sight. Fewer know its age. New Jersey's Historic Trust page for the Demarest Railroad Station dates the building to 1872. It credits architect J. Cleveland Cady and describes the style as Romanesque Revival. The Borough Historian, writing on the Borough's history page, gives the year as 1874 and also names Cady. Either way, it is more than 150 years old. It served the Northern Railroad of New Jersey, which opened in 1859 between Jersey City and Piermont, New York.

The state put the depot on the New Jersey Register of Historic Places in 2004, according to a state announcement from June 24 of that year. The Historic Trust also records state preservation grants for the building in 2001 and 2002, and describes it as a meeting place for local organizations.

That history explains why the restaurant's renovation involves more parties than a typical storefront fit-out. The October 2 update says The Station is working with both the Borough and the NJ Office of Historic Preservation on its interior finishes.

Here is how the lease got to this point, according to Borough records:

The two dated projections line up. In August, Boozy Burbs reported an opening projected for sometime in 2027. The Borough's October update narrowed that to early 2027. The same Boozy Burbs piece gives "44 Park Street" in its body text. Its address block, the restaurant's own site and the Borough all say 24 Park Street.

What The Station says it will be

On its website, The Station calls itself an American brasserie "inspired by the timeless restaurants of New York City." The site says original architectural details are being kept as part of the restoration. Boozy Burbs adds that the menu draws on classic French dining, with seasonal dishes, approachable favorites and cocktails. The site has a guest list for the soft opening and early reservations. Signing up there is the most direct way to hear about a date first.

The bank building: a longer story with a public step ahead

The building at 129 Hardenburgh has been in local news before. NorthJersey.com reported in January 2021 that the building was a former Bank of America branch built in 1970. The report said the Borough had pursued it through eminent domain for affordable housing and had offered $1,125,000 for the 5,320-square-foot property, based on an appraisal.

That plan changed. According to the January 12, 2026 minutes, the purchase happened before the current administration and was first paid for with Affordable Housing Trust funds. Those funds were returned when the affordable-housing project moved next door to 127 Hardenburgh. The January 26, 2026 meeting minutes trace the redevelopment history back to a 2017 redevelopment finding, a 2021 Redevelopment Plan and a designation approved again in 2024.

The agreed price is the most telling number in the story. The Borough got an appraisal in October 2025 that valued the property at $1.4 million for mixed-use development. The January minutes say any developer would have to pay a price consistent with that figure. The purchase-and-sale agreement, now fully executed, is for $1.66 million. That is about $260,000 above the appraisal, and roughly half a million dollars more than the Borough's 2020 offer.

In January, the Economic Development Committee recommended this outline for the building:

• Retail on the ground floor
• Residential units on the second and third floors
• Affordable units included, which help the Borough meet its state-mandated obligations
• Sufficient parking required

By October, the plans included underground parking. No unit count has been announced. The January minutes said a number could not be given before a redeveloper was designated.

What has to happen before anything changes on Hardenburgh

The October 2 update lays out the order:

1. The redevelopment agreement, the $1.66 million purchase-and-sale agreement and the environmental testing are all complete.
2. The Economic Development Committee reviews concept plans for the mixed-use building.
3. Once the committee has a plan to recommend, the full Council has to approve it at a public meeting.
4. The Council adopts any changes the redevelopment plan needs.

That third step is where residents first get to see what the building will look like. It also marks how much further along the station is. At the station, the lease was awarded a year ago and the remaining work is happening inside the building. At the bank, the design hasn't been presented publicly yet.

What sits around both addresses today

The two buildings are a short walk from the food businesses that already anchor this part of town. Yasou Mykonos is at 134 Hardenburgh Avenue and Dunkin' is at 132 Hardenburgh Avenue, both across from the bank site. Demarest Deli is at 35 Park Street, on the same street as the station. With a full-service brasserie at one end and a building with ground-floor retail at the other, this short stretch could end up with a sit-down dinner option and new storefront space that it doesn't have now.

The same October update has one more item that affects daily routes. Pine Terrace, the last dirt road in Demarest approved for paving, had its design proposals scheduled for review this month. Paving of all the remaining dirt roads, Pine Terrace included, is planned for spring 2027, about the same time as The Station's target opening.

On the calendar while you wait

You have time before either building opens. In the meantime, two events on Saturday, November 7 are within a short drive of downtown. The Demarest Nature Center lists a community trail walk that day and another on Saturday, December 5. That evening at 6:15 p.m., the Demarest Public Library hosts a vibraphone jazz concert with Ted Piltzecker and Allen Farnham in its Community Room.

For the bank building, keep an eye on the Mayor's Weekly Updates and the Council agendas. The concept plan for 129 Hardenburgh will go before a public Council meeting, and that will be the first look at what goes up across from Yasou Mykonos.

Downtown changes like these affect how buyers see the blocks nearby, and our family has followed Northern Valley streets for generations. If you own near Hardenburgh Avenue or Park Street and want to know where your home stands as these projects move ahead, Ridgeco Properties can help. Get your free home valuation.