Developer Breaks Ground On $2.2B Mixed-Use Redevelopment
O’Neill Properties Group says it is ready to begin vertical construction on the largest mixed-use brownfield redevelopment ever undertaken in the Northeast.
The Sayreville, NJ, project will cost $2.2B, and construction will be focused on the 200k SF Bass Pro Shops Outdoor World anchor tenant, Chain Store Age reports.
But before construction was possible O’Neill had to decontaminate a 40-acre lagoon from the former on-site National Lead manufacturing facility’s pollution (the water resembled a yolk-like substance).
When finished, The Pointe will be a mixed-use community covering 440 acres and spanning three miles of waterfront along the Raritan River.
The community will comprise, among other things, 2,000 waterfront townhomes and luxury apartments, 32k SF of Class-A office space and 1,250 hotel rooms. [CSA]