TINTON FALLS, NJ-Local officials have been trying for more than two decades to get a 63-acre site redeveloped here, and the effort seems about to pay off. After several proposals have come and gone, the latest, a plan by Chelsea Property Group to build a 430,000-sf outlet center has cleared two hurdles.In the first, the borough council in this Monmouth County community has formally approved a redevelopment measure offered up by the planning board, paving the way for the Roseland-based developer to introduce a formal proposal for the project. In the second, Chelsea has agreed to buy an adjacent seven-acre site for construction of an overpass relating to the project.What Chelsea has in mind is an upscale outlet center, according to Mark J. Silvestri, the company's senior director of development and acquisitions. Such retail names as Saks Fifth Avenue, Brooks Brothers, Armani and Nordstrom have already surfaced as part of the potential mix.Company officials also say that with the borough council's blessing, they expect to have their site plan in front of the planning board by the end of the year. A spring 2005 groundbreaking is the target, with the complex, as yet unnamed, expected to be ready for occupancy by the end of 2006.The borough council's approval of the redevelopment designation did involve some "strings." For one, Chelsea officials agreed to re-tool their plans to comply with newer, tougher storm water management regulations mandated by the state.In the land sale, the law firm of Carton, Arvanitis, McGreevy, Argeris, Zager & Aikens has agreed to sell the seven acres including the firm's 11,500-sf building to accommodate a highway overpass to facilitate traffic flow. Earlier proposals would have required easements relating to the property of an adjacent newspaper printing plant.The overpass is expected to cost $7 million, and the NJ DOT has agreed to pay for half the cost, according to a spokesperson for the agency. The building on the site will be razed, and the law firm will have to relocate. A spokesperson for the firm declined to disclose the sale price.Chelsea Property Group, which operates a total of 60 outlet centers in the US and abroad, recently became a subsidiary of mall giant Simon Property Group. The $5.1-billion acquisition deal, announced earlier this year, closed just last month.