Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PERTH AMBOY, NJ-Two weeks ago, city officials tore up a contract with the Florham Park, NJ-based Kushner Cos. under which the latter would redevelop a sizeable portion of Perth Amboy’s waterfront. At stake was a $600 million mixed-use project encompassing residential, retail and entertainment uses. The issues involved payments the developer was supposed to make to the city for several existing properties and sites, and some deadlines the city had imposed.

After a series of closed-door negotiations, Kushner and the city ironed out their differences, and yesterday the city council okayed a new deal. With that approval, the 48-acre Landings at Harborside project is back on track. Besides some slight changes in the financial agreement between the parties, the configuration of the project was tweaked a bit–the retail component has been moved from the north end of the site to the center.”While the city is willing to put the brakes on any project that is not in the best interest of our residents, we are happy to be back on track and proceeding…with our original vision,” according to David Szilagyi, commissioner of the city’s redevelopment agency and a councilman. He made his remarks in a prepared statement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.