JERSEY CITY-The Port Authority Board of Commissioners has authorized the agency to move ahead with the purchase and redevelopment of Greenville Yards, a century-old rail yard here that will serve as the lynchpin to removing up to 360,000 trash trucks annually from trans-Hudson crossings and New Jersey highways by moving New York City’s sealed containerized solid waste and other commodities by barge and rail when the facilities are completed by 2013.

Greenville Yards today forms the western terminus for New York New Jersey Rail LLC, which is owned by the Port Authority and operates the last cross-harbor car float system on the Hudson River. Under this system, freight is loaded on rail cars and the cars are moved by barge from Greenville to Brooklyn, NY, where they are either delivered to local customers or handed over to another railroad to reach their destination.

The Board has authorized $118.1 million for the overall project, part of which will go toward the purchase of approximately 47 acres of upland property and 72 acres of riparian rights at Greenville, with the other portion going toward the existing rail car float system operating between Greenville Yards and sites at 51st and 65th streets in Brooklyn. Funding will come from federal and state grants, as well as Port Authority funds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.