Catalyst Development Partners reforms NJ brownfields into valuable real estate
NEW JERSEY — Catalyst Development Partners has successfully transformed three brownfield sites in New Jersey into land coveted by real estate developers that have increased jobs and eliminate environmental concerns. Currently, the company seeks more brownfield projects to remediate. Catalyst redeveloped three underutilized, blighted and often environmentally impaired industrial and commercial properties in New Jersey: the former Gerdau Ameristeel plant in Perth Amboy, the former Griffin Pipe Foundry in Florence, and the former Matheson Tri-Gas property near the Meadowlands. During the process, the company acquired, remediated and repositioned the property that was contaminated. The three projects produced more than 2.5 million s/f of new big box modern industrial warehousing and logistics centers. More than 1,100 new permanent jobs were created, and provide more than $3 million in annual tax revenues for the municipalities and state.