Northlight Capital Partners Announcement

Press Release 5/8/17

PERTH AMBOY – Mayor Wilda Diaz joined Northlight Capital Partners as they conducted a demolition this afternoon for the future redevelopment and cleanup of 92 acres of the former Gerdau manufacturing property located on 225 Elm Street.

Diaz was joined by Perth Amboy Redevelopment Agency Executive Director Annie Hindenlang and Commissions, Joel Rosa and Lionel Giron. Representatives of the City of Perth Amboy, P.A.R.T.N.E.R, the Perth Amboy Housing Authority for the demolition of a large structure located at the former Gerdau Ameristeel site that was recently acquired by Northlight Capital Partners (NCP).

Demolition of Gerdau Ameristeel
*Photos by Paul W. Wang

“Perth Amboy’s geographically bounded by the Raritan River, Arthur Kill, and Raritan Bay provides port access to the Atlantic Ocean for national and international marine traffic, most notably the Port of New York and New Jersey,” said Mayor Wilda Diaz. “Because of the dually beneficial location both connected to the shoreline and the community in our Gateway entrance this investment will boost our local economy, develop business opportunities and hundreds of future jobs.”

“On behalf of Northlight Capital and Catalyst Development, we are very pleased to work with the City, Council and the Redevelopment Agency through a productive and helpful process.  We have been planning this with the administration and the Redevelopment Agency with the community in mind, as we plan to develop an amphitheater, senior center and walkways to the waterfront. This should be a model for all complex redevelopment projects in the State of New Jersey,” said Stephen Parnes, Principal of Catalyst Development Partners.

The latest redevelopment project is another multimillion dollar investment located at the gateway of our City.

•Redevelopment & cleanup of 92 acres of former manufacturing property into 1,350,000 square foot warehouse/distribution industrial park comprised of two buildings,

•NCP is working with the NJDEP representative and the City of Perth Amboy to create a sustainable development with green infrastructure,

•The redevelopment concept contemplates an enhanced circulation plan which links, Market Street, Elm Street, and Riverview Drive.

Through this partnership, there are plans to preserve two historic Gerdau structures on the site and provide public waterfront access, including a senior citizen park located near our Alexander F. Jankowski Community Center at 1 Olive Street and a waterfront park that will both be connected by a mile long of green way bordering the shoreline.

The new development is estimated at $125 million dollars, in addition to another several hundred employment opportunities.

Group Photo before the demolition