G reen B uildings

Real Estate Journal — Green Buildings — April 29 - May 12, 2016, 2014 — 23B


M id A tlantic

Site remediation will pave the way for Hudson Ridge development RPM Development Grp. set to launch environ. remediation work on NJ industrial site

BERDEEN TOWN- SHIP, NJ — With site preparation now under way, RPM Develop- ment Group is set to launch environmental remediation work on the long-vacant for- mer South River Metals Corp. property on Church St., a ma- jor step toward construction of a three-building residential and community center project featuring senior and all-ages affordable housing, and a new township senior community center. “Environmental remedia- tion is estimated to take three to four months, after which ac- tual construction will begin,” said BrendanMcBride , vice president of development for the Montclair, NJ based RPM. “Pending final permits, we an- ticipate vertical construction to begin in early fall and are targeting completion by the end of 2017.” When completed, the 14- acre Hudson Ridge develop- ment will feature two, four- story residential buildings A PHILADELPHIA, PA — Manko, Gold, Katcher & Fox (MGKF) partners Joseph Manko, Brenda Hustis Got- anda and Rodd Bender will present “Managing Environ- mental Risk to Get the Deal Done” at the 2016 Real Estate Institute at Temple University Center City. The program will run from 1:00-4:30 p.m. on Tuesday, May 3, 2016. Billy Grayson of Liberty Property Trust will join them as a pre- senter at the May session. For more information and to regis- ter, visit www.temple.edu/rei. The panel will discuss en- vironmental challenges that can potentially derail commer- cial and industrial real estate transactions and tools that can be used to mitigate risk and successfully close the deal. Topics will include: climate change, environmental due dili- gence, cleanup of “brownfield” properties, environmental in-

community center available for use by all Aberdeen resi- dents, as well as open space. “This is an important project on many fronts,” said Mayor Fred Tagliarini. “Number one is the environmental cleanup on this old industrial site so construction can proceed. Number two is finally return- ing this abandoned property to the tax rolls for the benefit of Aberdeen taxpayers.” “During my six years on the Township Council, the esti- mated $3 million cleanup cost has been our biggest hurdle because the site is unusable without remediation to state and federal standards,” said Councilman Greg Cannon. “With the recent availabil- ity of disaster relief funding combined with funds from the NJDEP/NJEDA’s Hazardous Discharge Site Remediation Fund and funds from the de- veloper (RPM), we were finally able to find a solution without spending three million of our residents’ tax dollars.” FromBrendan: Probably good and business transactions, negotiating environmental pro- visions in transactional docu- ments, and advising developers on satisfying state and federal cleanup programs and property transfer laws consistent with business objectives. In other MGKF news, MGKF congratulates O’Neill Proper- ties Group on their ongoing successful redevelopment of the former National Lead brown- fields site in Sayreville, NJ. Since O’Neill Properties was first named as the redeveloper for the project in 2007, MGKF attorneys Jonathan Spergel and Matthew Sullivan , along with Senior Technical Consul- tant, Darryl Borrelli have played key roles in assisting O’Neill Properties with the complex multi-party negotia- tions, site remediation and en- vironmental permitting issues that needed to be addressed on the project. According to

Brian O’Neill, Jr. , “but for Manko Gold’s counseling and assistance with quantifying and managing environmental issues on the project, we would not have been able to success- fully redevelop the site into The Pointe.” O’Neill will officially start construction on their 5.8 mil- lion s/f development project that will be home to anchor tenants such as Bass Pro Shops and Regal Cinemas, in addition to office space, hotels and apart- ments within their ten-year development plan. Jonathan Spergel adds, “This brownfields redevelopment project has been one of the largest and most challenging of my legal career. We are proud of O’Neill Prop- erties’ achievements on this project, and the role that our firm has been able to play since 2007 to help facilitate the rede- velopment of this complex and exciting brownfields project.” n McBride noted that Hud- son Ridge will be constructed with government assistance, including Community Devel- opment Block Grant (CDBG) Disaster Relief funding, along with 4% low-income housing tax credits and a permanent mortgage from the New Jer- sey Mortgage and Housing and Finance Agency. Wells Fargo Bank will provide eq- uity to the project through the purchase of federal tax credits . n to explicitly name NJDEP/ NJEDA , as they are funding the town’s cleanup of the site via HDSRF. Beyond the benefits of clean- ing up the dormant site, Ta- gliarini added that “Hudson Ridge will help address our community’s need for senior housing, as well as a modern senior community center to buttress programs already offered at the longstanding George Hausmann Senior Center. It was very important for us to be able to deliver this to our residents.

Crews working to prepare Hudson Ridge site for environmental remediation, a major step toward construction of a three-building development in Aberdeen featuring senior and all-ages affordable housing, and a new township senior community center.

with a total of 145 senior and non-age restricted rental units, constructed at a cost of $44 million. The senior (55 years and over) building will offer 75 one and two-bedroom apartments, while the all- ages building will provide 70

one, two and three-bedroom units. Preference will be given to households impacted by Hurricane Sandy. In addition to activity rooms for residents in each build- ing, the site will include a freestanding 2,500 s/f senior

Manko, Gold, Katcher & Fox, LLP presents “Managing Environmental Risks to Get the Deal Done” at the 2016 Temple Real Estate Institute

Joseph Manko

Brenda Hustis Gotanda

Rodd Bender

surance, and green leasing. MGKF founding partner, Joseph Manko has more than 40 years of experience advis- ing clients on environmental matters involving real estate transactions and development, regulatory permitting and com- pliance, environmental report- ing, and alternative dispute resolution matters. Brenda Gotanda serves as co-chair of MGKF’s Sustain- ability practice group and is a LEED Accredited Professional.

She has over 20 years of experi- ence representing and counsel- ing clients on environmental, health and safety regulatory compliance, transaction, per- mitting and enforcement mat- ters. Rodd Bender has concentrat- ed on brownfield transactions and compliance counseling across a variety of regulatory programs since joining the firm in 1997. He has extensive expe- rience structuring environmen- tal due diligence for real estate

Made with FlippingBook - Online catalogs