UPDATE: Local EDA Picks Developer for $1B-Plus Project

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SAYREVILLE, NJ-The Sayreville Economic Development Authority has picked the joint venture team of Market Street Investors LLC and LNR Northeast Investments to turn a 430-acre brownfield site into a massive mixed-use project in this Middlesex County community. The price tag for the project, which will take several years to complete, has been estimated at $1.25 billion.

The Market Street Investors/LNR team was one of four finalists for the project, which has been years in the making. As reported by GlobeSt.com in January, the other three finalists were Forest City Enterprises of Cleveland, the Spector Group of North Hills, NY, and a partnership of the Cashman Co. and V. Paulius Associates of Allendale.