Real Estate Journal — Northern New Jersey — September 14 - 27, 2018 — 17B
M id A tlantic
N orthern N ew J ersey
OBOKEN, NJ — Transit-oriented re- developments are an Atlantic Environmental Solutions Ptrs. with developers to revitalize communities Environmental remediations a key component in transit-oriented development H
Cleanup Program. However, Novak adds, “To participate in the BCP program, the pur- chaser needs to perform an Environmental Assessment pre-purchase and also needs to budget time and expense of working with the agency.” Expediting site cleanup as quickly as possible, without compromising quality, and bringing a site into compliance with applicable remediation standards are vitally important with these projects.” Morris, Monmouth Develop- ments Among Recent Projects In western Morris County,
AESI performed remediation at a 7-acre, 160-unit townhome- style rental community. The multifamily developer trans- formed the once-vacant site into a dynamic transit village community comprised of one- and two-bedroom rental homes complemented by a host of up- scale on-site amenities. Prior to its redevelopment, the property was an industrial eyesore in a lake and wooded community, that posed multiple complex environmental remediation challenges due to its former use as a manufacturing facility. continued on page 20B
important component of smart growth, spurring economic revitalization and creating pedestrian-friendly communi- ties where people can live, work and play – all centered around high- quality train systems. However, today’s commercial real estate market – particu- larly in New Jersey and New York – is largely influenced by environmental concerns. Unde- rutilized and defunct sites on which these projects are built often require a remediation strategy to address historic contamination before redevel- opment can move forward. According to Michael Novak, LSRP and President of Atlan- tic Environmental Solutions Inc. (AESI), a Hoboken-based environmental remediation and consulting firm, frequently these properties are designated as brownfield sites, where redevelopment/reuse has not previously occurred due to the presence or potential presence of pollution in buildings, soil or groundwater. AESI specializes in the regulatory, technical and management aspects of environmental issues, and has successfully returned dozens of contaminated properties to beneficial use as thriving transit-oriented developments. “The contamination that we encounter when working on transit-oriented projects var- ies based on a property’s prior use,” Novak said. “In some in- stances, the developer and the community are removing a factory, an auto salvage yard or a petroleum distribution facility where contaminants may include chemicals used by those operators. In other cases, the prior use might have been a strip center, or a row of multiple single-parcel buildings par- tially comprised of problematic uses such as dry cleaners, gas stations or auto repair shops.” In New Jersey, the developer becomes liable and responsible for any contamination at the property that is discoverable pre-purchase, said Novak. “The developer will perform a pre- liminary assessment of each parcel and study the environ- mental history of all users at that parcel dating back to initial development. New York is somewhat different as there the developer can qualify for liability exemptions by par- ticipating in NY’s Brownfields
Atlantic Environmental Solutions’ environmental remediation work was instrumental in transforming a blighted, former factory into Estling Village, an attractive, transit-friendly residential community next to the Denville train station.
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