Perth Amboy Mayor Helmin J. Caba spoke Tuesday, April 9, at a ceremony to mark the start of demolition for the city’s mixed-use Gateway project near the Route 35 Victory Bridge, Smith Street and Riverside Drive.
Officials in Perth Amboy are marking the start of a long-awaited redevelopment along the city’s waterfront, seeking to transform nearly 45 acres of contaminated, blighted property with a mix of pad-ready sites, warehouse space and open space for residents.
Viridian Partners, a Denver-based firm, is investing more than $110 million to acquire, clean and stabilize the parcels just east of the Route 35 Victory Bridge. That process is now set to begin with the razing of dilapidated properties on Smith Street, as city leaders detailed on Tuesday during a ceremony.
“After decades of neglect, the 44-acre Gateway site is finally poised for a revival,” Mayor Helmin J. Caba said. “This key entrance to our beautiful city that was once tarnished by decay is now the focal point of our redevelopment efforts. With the collaboration of Viridian Partners and the Perth Amboy Redevelopment Agency, we are starting to witness the transformation of this critical area into a thriving dynamic hub.”
He added: “This redevelopment is not merely about embracing the remains of our past. It’s about crafting a legacy for future generations, creating a destination that will draw visitors and investment from far and wide.”
Years in the making, the Gateway plan calls for Viridian to donate 9.4 acres to the city after remediating the property and making it pad-ready for mixed-use development, in a process that could begin this fall. The exact uses are still to be determined, officials said, noting that they’re gathering extensive input from residents and other stakeholders before they formally solicit proposals from developers.
Viridian will use another 25 acres to build some 471,000 square feet of warehouse space on the site with landscaping to provide a buffer from the other parcels, Viridian’s Michael Cahn said Tuesday. City officials also note that the logistics facility, which will effectively help subsidize the cleanup and capitalize on Perth Amboy’s well-established industrial market, will also support hundreds of jobs for residents and new tax revenue.
The remaining land, about 9.2 acres, will be donated to the city for passive recreation with trails and other offerings that will allow residents to enjoy the Raritan Bay.
“It’s taken us nine years to get to this exciting moment,” said Cahn, Veridian’s director of development, who credit Caba and the redevelopment agency for accelerating the project. He noted that the site between Smith Street and Riverview Drive has sat fallow for decades.
“The fact is it hasn’t been generating jobs, it hasn’t been generating taxes — and that’s about to change,” he added. “So we’re very excited to be part of that.”
Tuesday’s event came seven months after the redevelopment agency, or PARA, announced that it had signed an agreement with Viridian Partners for the Gateway parcel. When complete, the project figures to augment the city’s existing assets that have long intrigued developers, including its highway and mass transit connectivity and a waterfront with a well-established marina.
“Tens of thousands of people commute these roads every single day,” said Tashia Vazquez, PARA’s executive director. “This is the time to showcase the entrance to our home. It’s an opportunity to welcome visitors, new business investors and, most importantly, give our residents and families a point of pride and an even more beautiful place to call home.”
