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Project Description: Redevelopment of Contaminated Industrial Site

Service Provided: Market Study, Brokerage Services

Client Since: 1990

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The Client

Private Real Estate Developer

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The Challenge

To determine the viability of redeveloping a 13-acre industrial site with a mix of apartments and retail space.

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The Solution

The Otteau Group provided advanced market analytics and viability testing to quantify market demand, and development financial performance projections for this mixed-use apartment/retail project. We also provided the developer with a recommended program mix to include apartment types, sizes, design features and amenities for residents. Our brokerage division then successfully marketed this project by finding an investor/purchaser to acquire the development rights and complete the project.

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The Result

The initial phase of the project with 400+ apartments and supporting retail space are underway following environmental remediation. On-site amenities for the project will include a public riverfront walkway, dog park, clubhouse, pool, co-working spaces, and outdoor amenity space with grills, firepits, and an outdoor theater. Future plans include a NJ Transit bus stop with access to NYC.