Carteret, NJ – Mayor Daniel Reiman and Councilman Jorge Diaz announced the approval of construction on a new industrial complex at 900 Federal Boulevard in West Carteret. The project is being undertaken by Bridge Development Partners LLC of Parsippany. The lot is owned by Federal Business Centers of Edison, New Jersey.
The facility to be constructed at 900 Federal Boulevard will occupy lot 12 in Block 2802. The current condition of the property is a vacant unutilized brownfield site. The new warehouse will sit on the 9.9 acre property located at the corner of Federal Boulevard and Raskulinecz Road. The facility will be 1-story warehouse and will provide 206,500 square feet of flex space. The site will include ancillary offices, off-street parking spaces and loading docks.
“The redevelopment and revitalization of this area will add increased value to the community and will create union construction jobs in Carteret. No one in the community is served by allowing a brownfield site in an industrial zone to remain vacant or underutilized. By adding industrial space to these lots we are increasing the economic benefit to the town and improving the value of the site,” said Mayor Daniel Reiman. “Redevelopment is all about retooling and acknowledging that Carteret’s infrastructure needs to evolve as much as our workforce. By replacing a vacant lot with a warehouse off a busy transit corridor we are competing not just locally but globally, being located in the vicinity of three international airports and busy ports,” Councilman Jorge Diaz.
Carteret Bridge I LLC, the company constructing the warehouse, will pay $18.8 million in new tax revenue to the Borough over the next 30 years. The cost of the project is estimated $30 million in development and construction. The Federal Boulevard Redevelopment Plan was created in September of 2006 by Beacon Planning and Consulting services at the request of the Carteret Planning Board to address redevelopment needs of the borough in West Carteret. The plan identified and addressed several properties that had been underutilized or maintained inefficient layouts that made them prohibitive to potential businesses and revitalization as whole.