44 acres by Perth Amboy waterfront being redeveloped into 'Gateway'. Here's what's coming
The Perth Amboy Redevelopment Agency and Denver-based Viridian Partners have signed an agreement to remediate and redevelop 44 acres of blighted properties between the Route 35 Victory Bridge, Smith Street and Riverside Drive.
As part of the deal Viridian Partners will invest more than $110 million to clean the contaminated parcels which will become known as "Gateway." When completed the project is expected to generate more than 400 long-term jobs and $1 million in local tax revenue. The agreement calls for the project to break ground no later than spring 2025.
Plans call for the land to be developed for three different uses. A section of more than 9 acres abutting the Smith Street business corridor will be remediated and made "pad ready" for the city at no cost. City officials will decide how to redevelop this section.
Another 9 acres will be remediated for use as passive recreation, including natural areas surrounding Sonnaman's Creek, with trails leading to a gazebo on a hill that will be built to overlook the Raritan River.
A one-story, 471,000-square-foot, state-of-the-art warehouse will be constructed on the remaining 25 acres of property. Warehouse truck traffic will use Riverside Drive at the intersection with Smith Street to minimize traffic impact in business and residential areas. Berms, buffer landscaping and other natural screens will be used to minimize the impacts of the warehouse development.
“We’re eager to take advantage of the commercial possibilities of this large swath of developable property and maximize its ideal proximity to Route 440 and other major highways,” said Perth Amboy Mayor Helmin J. Caba. “Working closely with (the Perth Amboy Redevelopment Agency) and the developer, we are moving forward with a three-pronged strategy. The developer is paying to remediate the land, create a public park, and turn nine acres of valuable land into buildable property as part of our overall downtown redevelopment initiatives.”
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The Perth Amboy Redevelopment Agency selected Viridian Partners because of the firm’s experience remediating contaminated complex properties in Middlesex County and converting large industrial sites into clean, tax-generating uses.
The company previously launched the ePort 1 warehouse project along 102 acres of the Arthur Kill in Perth Amboy and redeveloped a 400-acre former munitions plant in Cranbury. The site now includes warehouses for Amazon and Wayfair; 150 of the 400 acres are maintained as clean conservation areas.
Michael Cahn, a principal with Viridian Partners, said about 75% of the company’s developments are located between Burlington and Union counties, as the 20-year-old firm seeks environmentally distressed properties near the New Jersey Turnpike and other major highways. Viridian Partners has other large developments in Florida, California and Pennsylvania.
“What excites us about the Gateway project is its phenomenal proximity to highways; it is a perfect fit for our model of remediating complex properties,” said Cahn, noting there is also a landfill on the site the firm will address.
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The site formerly housed a roofing company that manufactured asbestos shingles, before closing about 23 years ago. Viridian Partners has been working with the city since 2014 to create the overall plan for the site, which required the developer assembling 28 parcels to comply with the redeveloper’s agreement.
Perth Amboy Redevelopment Agency Executive Director Tashi Vazquez said Viridian Partners will next submit a site plan to the city’s Planning Board for review and secure approvals from Middlesex County and the state Department of Environmental Protection.
Cahn anticipates it will take one year to remediate the property, addressing all geotechnical issues, and a second year for construction of the warehouse and 9-acre open space area.
Email: srussell@gannettnj.com
Suzanne Russell is a breaking news reporter for MyCentralJersey.com covering crime, courts and other mayhem. To get unlimited access, please subscribe or activate your digital account today.
This article originally appeared on MyCentralJersey.com: Perth Amboy redevelopment planned next to Route 35 Victory Bridge
