Redevelopment of brownfield sites in New Jersey
For developers and investors considering the redevelopment of brownfield sites in New Jersey, the next two years should bring some long-needed clarity around which sites may be suitable for new projects—and at what cost. May 2021 is the deadline under the state’s 2009 Site Remediation Reform Act (SRRA) for owners of sites where cleanup began prior to 1999 either to complete remediation and have a Response Action Outcome (RAO) issued, or face Direct Oversight by the the New Jersey Department of Environmental Protection (NJDEP). Developers can enter into a Pre-Purchase Administrative Consent Order with NJDEP, which allows sufficient time to remediate. Purchases from delinquent owners, or municipal sites, may have more flexibility, but an agreement may still need to be brokered.