8B — August 24 - Sept. 13, 2018 — 2018 GOVERNOR'S CONFERENCE ON HOUSING & ECONOMIC DEVELOPMENT — ODM — M id A tlantic
Real Estate Journal www.marejournal.com
2018 GOVERNOR'S CONFERENCE ON HOUSING & ECONOMIC DEVELOPMENT
LSRP remediation services integral for owners & . . .
NJ Dept. of Environmental Protection approves permits PIRHL to build over-55, affordable-housing development F
are triggered by environmental due diligence investigations,” he noted. Cessation of activity, a sale or other change in ownership of an industrial property will often activate the Industrial Site Remediation Act (ISRA). AESI’s LSRPs take property owners through the process and prepare the required documents for submission to the NJDEP. While many former indus- trial facilities are redeveloped as warehouses or distribution centers, just as many also become residential develop- ments, parks, schools and day care facilities. “Remediation of these sites is heavily regu- lated and the work must meet an extremely high standard,” said Novak. “AESI has helped transform several hundred industrial properties into resi- dential apartment buildings, condominium complexes, day care centers, schools and other sensitive end-uses. Our team operates closely with the regu- lators to ensure safe and clean spaces.” Transit villages are a sub- stantial source of work for AESI as well, under the LSRP program. Soil and groundwater contamination are common issues for residential or mixed- use development projects built along rail lines and on sites that historically served non-resi- dential or industrial purposes. Remediation plans are tailored to specific site conditions, and remedies include traditional ex- cavation and disposal programs as well as subsurface injections with amendments that destroy contaminates in ground. Streamlining the remedia- tion process has proven to be effective. From the time the LSRP programwas fully imple- mented in 2012 to the end of 2015, NJDEP reported that the number of cases closed rose from 1,200 to 7,500. This num- ber surpassed 10,000 in 2017 and is on pace to reach 12,000 this year. “By utilizing the knowledge and expertise of environmental professionals, the NJDEP is returning contaminated sites to beneficial use and providing assurance to owners that the work meets complex rules and regulations,” said Novak. “Most importantly, firms like AESI are helping to protect our state’s natural resources and improve the quality of life for businesses and residents.”
that is both cost effective and timely for clients. “Issuance of RAOs signals the work has been done for the NJDEP. This is what everyone wants; how- ever, there are many ways to clean up contamination while utilizing the NJDEP’s methods for closing sites.” AESI’s Work Ranges from In- dustrial and CRE Transaction Work to Day Care Centers and Mixed-Use Residential Projects The volume of AESI’s produc- tion reflects its location in Hud- son County and the company’s focus on the state’s industrial and commercial real estate transaction market, according to Novak. “Most of our cases continued from page 2B
REEHOLD, NJ —A 75- unit, affordable-housing development for people 55 and older has been granted state environmental permits and is headed for construction in October. PIRHL of Cleveland, OH, with offices in Hamilton, will build the four-story, elevator- serviced community, Wemrock Senior Living, and plans to complete it by November 2019. A rendering of the project is attached. The development, on seven acres on the south side of Route 33 Business between Cardigan Bay Lane and Wem-
75-unit, affordable-housing development
rock Rd., is designed to allow residents to age in place by connecting them to a con- tinuum of services. The building will feature 65, one-bedroom apartments and 10, two-bedroom apartments. The New Jersey Depart- ment of Environmental
Protection approved the flood hazard and freshwater wet- lands permits on June 5. The project is awaiting soil conser- vation district, road opening and building permits, and construction will then begin. The facility also will include community spaces.
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