If a group of New York City businessmen gets its way, an international apparel center could be coming to a long vacant tract of land on Secaucus’ east side.
The brain child of import-export businessman Tommy Lee, the businessmen hope to buy a portion of the property for sale at Paterson Plank Road and West Side Avenue. On it they would build a 600,000 square foot international trade facility, in addition to a new Extended Stay America Hotel. On-site parking would also be part of the development.
Once completed, the Secaucus trade center would be used by foreign apparel wholesalers who want a business presence in the U.S., specifically in the New York metropolitan area.
The three business partners who are putting this deal together – Tommy Lee, William Brothers, and Myles Matthews – have preliminary support of the Secaucus Town Council and property owner Gene Mori, who said last week that he’s willing to sell his property to them.
Over the years the property has been considered for various uses.
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Funding to come from foreign investment
Funding for the project, the business partners explained, would come from foreign investors who are interested in obtaining legal residency status in the U.S.
“A key element of the word trade center concept would be the US EB-5 program,” explained Matthews. “Through the EB-5 program foreign investors can get legal residency in the United States if they invest at least $1 million and create at least 10 full-time jobs.”
The jobs, Matthews added, must be permanent full-time positions that are given to current U.S. citizens and must remain intact for at least two years.
“This actually isn’t a new program,” said Matthews. “EB-5 was created by [President Dwight] Eisenhower to spur job creation and economic growth in America…With our economy being what it is right now, there’s a lot of interest in the program because, through EB-5, the U.S. gets jobs we sorely need. Foreign nationals who are interested in living in America get the opportunity to do that by making a significant investment in our economy. But this is not something new.”
Foreign investors who meet the program’s criteria are able to get legal residency status for themselves and members of their immediate families.
In a presentation made two weeks ago before the Secaucus Town Council, Lee estimated that about 2,000 jobs would be created through the program. Most of the jobs would be for customs brokers, logistics specialists, and hazardous materials packing specialists.
The business partners could not estimate whether the jobs would also include benefits.
Past controversy over tract
If approved by the New Jersey Meadowlands Commission (NJMC), the trade center concept would bring construction to a 155-acre parcel of land that has been eyed for development for years.
“It looks like a very nice project that I would think would be very good for Secaucus and the Meadowlands and the state,” said former resident and property owner Eugene Mori, who now lives in Florida. “I’ve been in touch with Tommy Lee for several months now and I’m expecting a formal proposal from him any week now. He’s very motivated to buy the property and I’d like to sell. I’d like to see something done with this property in my lifetime.”
Over the years the property has been considered for various uses, including affordable housing, condo development, and a supermarket. Wal-Mart had also originally considered putting its flagship store and Sam’s Club here, before opting instead for the stores’ current home at 400 Park Plaza Drive.
A long running dispute between Mori, who has owned his property since 1971, and Hartz Mountain Industries, which owns an adjacent property, has complicated development projects on the Mori tract in the past. Mori has alleged that Hartz has refused to give planned developments on his land use of an access road, Plaza Drive, that adjoins the two properties.
The conflict over the access road is not expected to complicate the trade center concept, however.
“Traffic would have access to the property from Paterson Plank Road or West Side Avenue, and wouldn’t need to use an access road provided by Hartz,” said Brothers.
Because of the long tense history between Mori and Hartz, Mori last week speculated that the real estate company, which is headquartered in Secaucus and owns thousands of acres locally, would try to block the trade center concept from happening.
Ron Simoncini, a spokesman for Hartz, said that no one from Hartz has seen plans for the trade center concept.
“Until plans are made available publicly it would be inappropriate for us to comment at this time,” he said.
Although a portion of the Mori property falls in North Bergen, that land is largely wetlands. The trade center would be located entirely in Secaucus.
If approved by the NJMC and the town, the center likely wouldn’t open for another two years.
E-mail E. Assata Wright at awright@hudsonreporter.com.