Developers get $1 million from fed govt

According to a newspaper story, “Two major redevelopment projects in Hoboken and Sayreville won approval today from the New Jersey Economic Development Authority for reimbursement of more than $30 million of the developers’ cost to clean up contaminated sites.

“The proposals by Park Willow LLC and Sayreville Seaport Associates LP are among the first approved by the EDA.

“Park Willow LLC asked for up to $1 million in reimbursement of costs to remediate nearly five acres on the Hoboken waterfront for a $1.1 billion residential and commercial project . The project is expected to generate between 5,000 and 8,000 new jobs.
“Park Willow has proposed building 1.8 million square feet of office space, 300 condominium units and 85,000 square feet of ground-floor retail on the site.
“The four-block redevelopment site contained several industrial businesses, including an auto body repair shop, an elevator supply and repair firm, a sheet metal shop, a soap factory and a car wash.
“The cleanup work involves removing several underground storage tanks and contaminated soil and monitoring contaminated groundwater.”

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