What the Asbury, NJ-based JGPCO has in mind for the site, which amounts to seven buildable acres once a railroad spur is relocated, are two 54,000-sf light industrial buildings designed for two to four tenants. A public greenway is also part of the plan, which calls for a variety of green and sustainable design elements.
"It is expected that when the project is completed, the two new facilities will generate between 80 and 100 permanent new jobs," says Greg Rogerson, a principal with JGPCO.
The site is also within this city's urban enterprise zone, which offers a number of incentives, including low-interest loans and grants via the State UEZ Board. Other incentives include sales and use tax exemptions and tax credits tied to job creation.
"The city has made a strong commitment to the success of this project," says Sasa Olessi Montano, director of the city's Department of Housing and Economic Development. "Thus far, the former structures at Carter Wallace have been demolished, permits for work have been obtained and environmental investigation work has been conducted.
"Trenton has also entered into a remediation agreement with DEP, and is in the process of removing contaminated soil," she says. "The city has also gone to bid for significant streetscape and infrastructure improvement and, among other things, we will construct and maintain a greenway along Assunpink Creek, which will serve as a buffer between recreational space and the light industrial activities."
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