Behind NJ’s $2.5B Riverton Redevelopment
ByThe brownfield redevelopment trend continues to emerge throughout the northeastern U.S. as a profitable strategy for developers. North American Properties (NAP) has revealed its plans for Riverton, a $2.5 billion riverfront project in Sayreville, N.J., which will offer a mix of retail, restaurants, office space, hotels with resort-inspired services, parks and a marina, complemented by open gathering spaces, all on a 418-acre site.
NAP partnered with local company PGIM Real Estate for the updated plan, which was initially approved by state and local authorities in 2014. At the time, the project also obtained financial support from the New Jersey Economic Development Authority (NJEDA) through the Economic Redevelopment and Growth Program. The developers are counting on NJEDA’s contribution for Riverton’s new version, designed by Cooper Robertson…
