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  4.  » Land Once Slated for Commercial Development Likely to Become Port

Land Once Slated for Commercial Development Likely to Become Port

On Behalf of | Jun 25, 2010 | Breach Of Contract |

According to The Jersey Journal, the board of the Bayonne Local Redevelopment Authority voted unanimously Thursday night to give BLRA Executive Director Christopher Patella the authority to negotiate the sale of 128 acres in the southern section of the Peninsula at Bayonne Harbor to the Port Authority of New York and New Jersey.

The original plans for the land included retail outlets, commercial buildings, restaurants, hotel facilities, and thousands of units of housing. Now, instead of commercial and residential development, the site will likely become a port. Officials from the Port Authority said it was their plan to bring more cargo and job-growth to the region.

Patella said that negotiations have begun with the Port Authority for three of the site’s six districts: the 25-acre Landing District, 26-acre Loft District, and 77-acre Bayonne Point District. The Port Authority sued the Bayonne Local Redevelopment Authority for breach of contract after the BLRA  sold land in the northern section of the site to Ports America after they out-bid the Port Authority. Ports America agreed to pay $90 million for the property to the Port Authority’s $50.5 million offer. The Port Authority later dropped the lawsuit.

Source:

Bayonne Local Redevelopment Authority approves negotiations to sell Port Authority a third of the former MOT; likely use will be port facility, not housing and commercial development (nj.com)

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