Project on Horizon Following Sale of Hamilton PSEG Generating Plant
The coal plant may have
closed; but a new opportunity for redevelopment has opened in Hamilton.
A year and a half after
the coal generating station along the Delaware River was retired, PSEG
announced the sale of the dormant, Hamilton-based facility to a developer that
is poised to turn the site into regional warehouse-distribution
Acquired by Chicago-based
Hilco Redevelopment Partners, the new owners hope to meet the region’s growing
warehouse-distribution needs with a “state-of-the-art” industrial park.
PSEG selected Hilco
Redevelopment Partners from over two-dozen proposals due to the company’s
“strong environmental track record” and successful redevelopment projects that
included the revitalization of former coal plant sites.
While it may take at
least a year and a half to two years, if not longer, for the redevelopment
project to be completed, it should result in one of the Hamilton’s largest
commercial revitalization efforts.
“With the ratables that
this project will bring, combined with the redevelopment of a dormant site that
would other-wise continue to languish, this transaction offers future economic
benefits for our community,” says Mayor Kelly Yaede. “Thanks to our
community’s centralized location between New York City and Philadelphia and its
access to interstates, the New Jersey Turnpike and New Jersey Transit’s
Northeast Corridor Line, Hamilton Township is well-positioned to reap the benefits
of e-commerce growth.”
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