[CPEO-BIF] "Long-awaited Sayreville [New Jersey] redevelopment project approved for $223 million tax grant"

[Lenny Siegel <lsiegel@cpeo.org>]

Long-awaited Sayreville redevelopment project approved for $223 million tax grant

NJ BIZ
May 20. 2014 


State officials have pledged $223 million to the long-awaited Luxury Point at Sayreville project - the massive retail and lifestyle complex planned for a 440-acre Brownfield site along the Raritan Bay and Garden State Parkway.

The $1.2 billion project, which calls for 8 million square feet of commercial and residential space, has been approved for a multiyear tax-reimbursement grant under the state’s Economic Redevelopment and Growth program. The award is critical for developer O’Neill Properties and state environmental regulators, who have spent years and millions of dollars remediating the site under an ambitious redevelopment project.

The approval came May 16 during the Economic Development Authority’s monthly board meeting, an agency spokeswoman said. Executives from the King of Prussia, Pa.-based developer were not immediately available for comment Tuesday.

…

For the entire article, see
http://www.njbiz.com/article/20140520/NJBIZ01/140529978/Long-awaited-Sayreville-redevelopment-project-approved-for-$223-million-tax-grant

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Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope Street
Mountain View, CA 94041
Voice: 650-961-8918 or 650-969-1545
Fax: 650-961-8918
LSiegel@cpeo.org
http://www.cpeo.org




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