Perth Amboy to Hold Energy Port Signing
Welcoming Viridian Partners
PERTH AMBOY, NJ— Mayor Wilda Diaz and Perth Amboy Redevelopment Agency (PARA) approved Viridian Partners, a Brownfield Development Company, as the developer for the ePort (“e” for energy) site. A redeveloper agreement was held today February 22nd at 2:00 p.m. in the Office of the Mayor at City Hall, followed by a press conference in the Perth Amboy Council Chambers.
Headquartered in Highlands Ranch, Colorado, Viridian Partners has redeveloped several sites in New Jersey in the past six years and showed interest in Perth Amboy’s RFP released last March. The prime 100+ acre site bound by the Arthur Kill, Crane Creek, 440 Bridge and the High Street extension is focused on attracting businesses in the renewable energy sector, to create an environmentally responsible Perth Amboy, given its 100 year history of industrial and maritime use.
In addition to this project, Viridian Partners will be donating an acre of property value to the City to be used for open space and recreation.
“Perth Amboy is an active redevelopment community, promoting both residential and commercial urban renewal. The City is proactive in seeking developers and has a welcoming environment for new businesses. The supportive administration, economic incentives, and superior location made this acquisition an attractive and viable investment for Viridian,” said Tate Goss, President of Viridian Partners.
According to Viridian Partners, Perth Amboy is ideally situated for the growing port industry as the 2014 expansion of the Panama Canal will progressively lessen demand for inland regional distribution centers and proportionately increase demand in Port Market.
The site in Redevelopment Area 3 features approximately 1,700 linear feet of shoreline, rail access and a deep-water port on the Arthur Kill, a major shipping route within the Port of New York and New Jersey, the East’s largest port. It’s centrally located among the 10 eastern states, ranging from Maine to North Carolina, that have formed an Offshore Wind Energy Consortium to promote the development of offshore wind energy generation.
While the majority of the site was never developed, it was partially occupied for industrial and commercial use by National Lead and as a result is environmentally challenged. Viridian’s approximate $90 million investment will begin Phase 1 with its nearly 18-month remediation process. Phase 2 will include the construction of three buildings for logistical space, such as fabrication and warehouse distribution, office space, and/or light manufacturing.
“The return on investment is far greater than the brick and mortar to soon occupy this vacant land. It’s the creation of local job opportunities [one of my main priorities], the realization of new rateables with the primary goal of creating a sustainable project that will carry Perth Amboy into the future. I want to thank Helga van Eckert for the completion of one of her final projects for the City and Tate Goss for his investment into our community,” said Mayor Wilda Diaz.
ABOUT VIRIDIAN PARTNERS
Founded in 2003 as a Brownfield development company, Viridian Partners is committed to the acquisition, remediation, risk management and eventual redevelopment of surplus distressed properties within highly land constrained markets. The result is a revitalization of otherwise non-productive real estate, enhancing both the aesthetics and economics of the communities within which Viridian Partners operates. For additional information about VP, please visit, www.viridianpartners.com.
Created by the City Council in 1997, the Perth Amboy Redevelopment Agency (PARA) is charged with uniting the essential elements to foster successful redevelopment within the City. Together, the influx of new enterprises and the revitalization of existing resources improve Perth Amboy’s image, visibility and stature and housing establishments. Ultimately, to generate