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1/31/2019 - Major Redevelopment Project on Horizon Following Sale of Hamilton PSEG Generating Plant

 

Major Redevelopment Project on Horizon Following Sale of Hamilton PSEG Generating Plant 

The coal plant may have closed; but a new opportunity for redevelopment has opened in Hamilton.

A year and a half after the coal generating station along the Delaware River was retired, PSEG announced the sale of the dormant, Hamilton-based facility to a developer that is poised to turn the site into regional warehouse-distribution hub.    

Acquired by Chicago-based Hilco Redevelopment Partners, the new owners hope to meet the region’s growing warehouse-distribution needs with a “state-of-the-art” industrial park.

PSEG selected Hilco Redevelopment Partners from over two-dozen proposals due to the company’s “strong environmental track record” and successful redevelopment projects that included the revitalization of former coal plant sites.

While it may take at least a year and a half to two years, if not longer, for the redevelopment project to be completed, it should result in one of the Hamilton’s largest commercial revitalization efforts.

“With the ratables that this project will bring, combined with the redevelopment of a dormant site that would other-wise continue to languish, this transaction offers future economic benefits for our community,” says Mayor Kelly Yaede.  “Thanks to our community’s centralized location between New York City and Philadelphia and its access to interstates, the New Jersey Turnpike and New Jersey Transit’s Northeast Corridor Line, Hamilton Township is well-positioned to reap the benefits of e-commerce growth.”     

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