Jones Lang LaSalle

EDA Narrows Down Proposals for 410-Acre Industrial Site
By Eric Peterson
Last updated: January 23, 2006 09:56am

SAYREVILLE, NJ-Four finalists in the derby to get the development rights to a massive waterfront tract are scheduled to unveil their proposals to the public on Thursday. The 410-acre site, surrounded on three sides by the Raritan River just west of the Garden State Parkway, was once used by National Lead Co. for making paint products.

The Sayreville Economic Development Agency condemned the site in March 2005 and issued an RFP for its redevelopment. The four finalists for the project, which will involve a substantial remediation of its contamination, are Forest City Enterprises of Cleveland; LNR Property Group, Quincy, MA; the Spector Group, North Hills, NY; and a partnership of the Cashman Co. and V. Paulius and Associates of Allendale, NJ.

Three of the four finalists have already released some of the details of their proposals--only Forest City has declined to do so. Spector’s proposal, which will be outlined in greater detail on Thursday, will include retail and residential components, a minor league baseball stadium, an aquarium and marine life learning center, a performing arts complex and a high-rise hotel. The project would be surrounded by a perimeter waterfront boardwalk, according to Michael Mannetta, Spector’s design director.

LNR’s proposal, meanwhile, calls for nearly 170 acres to be set aside for parks and open spaces. It also calls for a marina, a baseball stadium, fishing piers, an event center and other entertainment and recreational facilities. And the Paulius/Cashman proposal calls for a community center, a retail component, a professional office complex, a hotel and warehouse space.

According to Randy Corman, executive director of the Sayreville EDA, his agency expects to make a final decision by this coming March. Project cost estimates have not been released. The cost of cleaning up the site is estimated by EDA officials to be in the $30-million range.