Port Of NY/NJ On Top Of Jones Lang Salle Index Of Seaports
October 23 2012 - The Port of New York and New Jersey has been placed at the top of industrial analysts Jones Lang LaSalle’s list of port areas competing to be ready for the expanded inbound trade to come via a widened Panama Canal in 2014. In its fourth annual report on national seaports, the NY/NJ port emerged as No. 1 for the first time. The new ranking cites the port’s existing and rapidly growing capacity to handle container shipments, its “excellent” rail connectivity, and the expedited plans for raising the Bayonne Bridge to accommodate larger vessels by the time Panamax opens. State incentive programs such as the Urban Transit Hub tax credit and Grow New Jersey are also fueling the growth in inventory to meet that demand and there is an impressive amount of development occurring at the Port.
With the Bayonne Bridge project, work has begun on a $1 billion effort to raise the lower deck from a clearance height of 151 feet to 215 feet in order to permit post-Panamax cargo vessels through by the time testing of the Panamax passage is finished in 2015. Other port-related projects include the dredging of the Kill Van Kull and Newark Bay channels, the ExpressRail project to provide double-stacked rail service between the port and the Midwest, and Global Terminal & Container Services’ expansion of the Global Terminal Port Jersey in Bayonne. Global Terminal is developing 70 acres for a new container terminal.
With such a rapid increase in demand in and around the Port, Brownfield redevelopment opportunities abound. The Law Office of Christopher D. Hopkins has substantial experience in returning contaminated properties, or “Brownfields,” to beneficial use. The firm has developed substantial capabilities in dealing with issues involving: site inspection; ISRA compliance; soil and groundwater remediation; cost recovery and allocation; liability allocation; underground storage tanks and vapor intrusion.
The Law Office of Christopher D. Hopkins, L.L.C.
1812 Front Street
Scotch Plains, New Jersey 07076