615 River Road (Edgewater, NJ)
Site/Location: An attractively located, approximately 15 acres on the Hudson River, overlooking Manhattan. For more than 100 years it was the site an oil company “tank farm” (petroleum product distribution center). It has been described as one of the largest undeveloped waterfront sites north of Hoboken, in the popular Edgewater riverfront district.
Abatement Considerations: Clear the site of all contaminants related to petroleum byproducts in accordance with all regulatory requirements and secure environmental closure.
EFG’s Role: EnviroFinance Group, LLC (EFG) will manage environmental remediation so that the site can be made available for sale and redevelopment.
Future Plans: To return this premium waterfront location, which has been unavailable for more than a century, to its best use (undoubtedly for residential, recreational and commercial uses).
Community Benefit: This will be an important addition to the popular Edgewater area, where public access to the waterfront for shopping, recreation, living and working is prized. As well as complementing the city’s active lifestyle, redevelopment of this prime real estate will also bring more high quality services, jobs and tax dollars flowing into the local economy.
Current Status: Currently under contract.