Private Project Experience
Redevelopment of Former Chemical Site: Public/Private Partnership - New Jersey
Vita Nuova is currently engaged by a group of generator PRPs to manage the redevelopment of the abandoned Borne Chemical blending plant in northern New Jersey. In order to reduce cleanup costs, a site owner must sign a deed restriction for the site. The generator PRPs were not interested in taking ownership of the site. While the site was significantly impaired, Vita Nuova worked on behalf of the PRPs to negotiate an agreement with the City to take the property and redevelop it as non-residential property.
Vita Nuova has provided the following services:
- Performed a market analysis
- Developed a reuse strategy
- Prepared conceptual designs
- Repositioned the site as economically viable
- Helped with an RFP process to identify a developer
- Developed an exit strategy to mitigate long-term CERCLA liability
Vita Nuova has been instrumental in obtaining a redevelopment plan for the property that ensures a non-residential use, has identified a user for the property and is currently helping to negotiate an agreement to integrate the cleanup and the redevelopment between the user, the City and the PRP group. The PRPs are currently negotiating a cleanup that will cost significantly less than original estimates and provides a critically important risk sharing exit strategy that will minimize the PRPs long term liability. The City hopes to create new jobs and increase tax revenues through the productive use of this once forgotten site.
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