|From:||CPEO Moderator <firstname.lastname@example.org>|
|Date:||Tue, 9 Nov 1999 10:17:16 -0800 (PST)|
|Subject:||[CPEO-BIF] "Developers take new look at brownfields"|
To read the complete article go to: http://www.nj.com/news/times/stories/11-08-U1BBFBXB.html Developers take new look at brownfields 11/08/99 By TRACEY L. REGAN Staff Writer New Jersey Times There is no more striking example of the development potential of abandoned industrial properties than Jacobs Ferry, K. Hovnanian's 454-unit condo and town house development across the Hudson River from Manhattan. Lying atop an old rail yard, town houses in the development, which straddles the towns of West New York and Guttenberg, have fetched as much as $1.6 million, despite deed restrictions that limit future uses of the site and serve as a constant reminder of the contamination left below it. The project is a measure of the booming real estate market and changes in the state's environmental laws over the past several years that allow developers to cover or "cap" contaminated soil rather than remove it. Jacobs Ferry is one of the first residential developments in the state to employ such a device. But while they point to the success of Jacobs Ferry, developers in cooler real estate markets say that many home buyers are greeting the concept of capping with much more caution. Inner-city residents in particular, who harbor longstanding fears about environmental risks in their neighborhoods, are some of the most skeptical, they say. (Continue) http://www.nj.com/news/times/stories/11-08-U1BBFBXB.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ To read CPEO's archived Brownfields messages visit http://www.cpeo.org/lists/brownfields If this email has been forwarded to you and you'd like to subscribe, please send a message to email@example.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ _____________________________________________________________ We've got email newsletters galore! Check 'em out at Topica. http://www.topica.com/t/5
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