$2.5 Billion "Riverton" Plan a Joint Venture of PGIM and North American Properties
by Dave Schatz, Charlie Kratovil - New Brunswick Today (NJ)
Along the Raritan River waterfront sits 418 acres of land that a national developer plans to transform into “Riverton,” a $2.5 billion mixed-use development.
The land, near one of the busiest sections of the Garden State Parkway, was once home to a paint factory owned by NL Industries.
Previously known as National Lead, the company was responsible for manufacturing lead-based paints until such products were banned by the federal Consumer Product Safety Commission (CPSC).
Their contaminated land has “sat dormant for decades and in recent years has been remediated,” said North American Properties (NAP), the developer hoping turn it into the largest mixed-use project in the state.
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