By the late 2010s, the area around the square was planned for development.[3][4] and was chosen by the U.S. Department of Housing and Urban Development to receive a $250,000 Choice Neighborhoods grant to explore ways to develop the area into a mixed-use neighborhood. Residents formed the McGinley Square Redevelopment Plan, which called for the construction of affordable and workforce housing, retail outlets, restaurants, and entertainment facilities.[5] Large blocks of the neighborhood belong to Saint Peter's University, which in March 2016 received approval to build a 21-story mixed use tower at 688-700 Montgomery Street,[6] which included three levels of retail and entertainment space, including a movie theater and 300-car parking garage.[7] Plans were mired in a controversy regarding the use of eminent domain,[8][9] but were nonetheless approved. Construction had been set to begin in August 2012, with completion set for 2016;[10] as of 2018 it had not yet begun.[11]
Several community organizations are active in the McGinley Square area. Bergen Communities United is a non-profit organization responsible for community planning in McGinley Square and the neighborhoods immediately to the south. The McGinley Square Partnership is a business improvement district, with local business owners using dues and NJ Urban Enterprise Zone funds for improvements to the commercial area. The Highland Avenue Block Association advocates for residents' interests.[citation needed]