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Phillipsburg Town Council and residents viewed this outline of redevelopment plans for the former Ingersoll Rand tract. It will become warehouses with some ancillary office space if plans progress.
Plans for the redevelopment of the former Ingersoll Rand property in Phillipsburg include construction of more than 4 million square feet of warehouse space serviced, in part, by railroad.
About half a dozen representatives of Opus Investment Group, based in Medford, New Jersey, presented an outline of their plans to Phillipsburg Town Council at a special meeting Tuesday afternoon.
The plans call for leveling all of the existing buildings, some of which contain asbestos, Opus Investment Group Principal Erin L. Murphy said. They're working with the businesses located in Commerce Park to make sure they're satisfied with the outcome, she said.
They plan to construct seven buildings, mostly warehouses with some ancillary office space, she said. The entire project is expected to cost more than $300 million, based on "very premature" estimates, Murphy said.
"We would always prefer to do a redevelopment rather than build on raw dirt," Murphy said. "The town of Phillipsburg has been waiting too long for this redevelopment."
Planner Robert S. Larsen said the investors are also proposing a regulation-size soccer field and a nature center with walkways near the Lopatcong Creek for public enjoyment. The creek requires a buffer from development, he said.
No one from Opus Investment Group could immediately provide the number of jobs the project is expected to create.
Murphy said although the Lehigh Valley in Pennsylvania saw explosive growth in industrial development because it had more space, the infrastructure wasn't always prepared for it.
The rail switch at the former Ingersoll Rand property was removed several years ago, because Norfolk Southern requires regular maintenance, Mayor Harry Wyant Jr. said.
The redevelopers are working with Norfolk Southern to restore rail service, said Daniel Gural, of Opus Investment Group.
"We feel very confident that we are going to be able to service the entire development with rail," Gural said.
Council Vice President Todd Tersigni asked how long the project will take to complete. The buildout will take five to eight years, attorney Joseph P. Baumann Jr., said.
Murphy said construction won't start this year. The plans will require some tweaks to the town's redevelopment plan. The property has several access points, but Murphy said the redevelopers are doing everything they can to limit trucks disrupting the nearby neighborhood.
No tenants for the warehouse spaces have been identified this early in the project. Opus managing member Dean Cederquist said the developers expect "a very good market reception."
Representatives of the developer didn't detail plans for the roughly 100 acres Ingersoll Rand still owns in Lopatcong Township, although they said they plan to make use of it, Gural said.
Council President John Lynn asked if any problems getting cooperation from Lopatcong would jeopardize the Phillipsburg portion of the project. The redevelopers said they've left their options open, and they're not going to give up if they have an unreasonable partner along the way.
Gural noted Ingersoll Rand is working diligently with them.
"We owe the people of Phillipsburg a quality redevelopment, and we will do whatever we can to get it done," he said.