North American Properties and its joint venture partner, New Jersey-based PGIM Real Estate, have revealed plans for the $2.5 billion development, Riverton. Located on a 418-acre waterfront redevelopment on the Raritan River in Sayreville, N.J., the scheme will be the largest-ever mixed-use project in New Jersey. Plans call for 2,000 apartments and single-family homes, along with 1 million square feet of office space, a marina and two hotels. The project has received support from state leaders, as well as Middlesex County and the Borough of Sayreville. Financing for the project will come from the New Jersey Economic Development Authority (EDA) through its Economic Redevelopment & Growth Program. The EDA will have to reaffirm for the updated vision of the plans.
