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Subsidy Tracker Individual Entry

Company: Sayreville Seaport Associates Urban Renewal, L.P.
Parent Company: 
Subsidy Source: state
Location: New Jersey
City: Sayreville
County: Middlesex
Address: Chevalier Avenue
Zip: 8872
Project Description: Mixed-use riverfront development
Year: 2023
Subsidy Value: $400,000,000
Subsidy Value in 2023 Dollars: $400,000,000
Program Name: Aspire Program
Awarding Agency: New Jersey Economic Development Authority
Type of Subsidy: 
Capital Investment: $2,500,000,000
Source of Data: Subsidy value and project details retrieved from NJEDA Press Release: NJEDA Board Approves Two Million-Square-Foot Multi-Use Sayerville Project for Aspire Award, December 14, 2023, and (click here) and "Riverton to receive upwards of $400 million in state tax credits," TAPInto Raritan Bay, December 14, 2023, (click here). Investment and company information retrieved from (click here).
Notes: New Jersey Economic Development Agency (NJEDA) approved Sayreville Seaport Associates Urban Renewal, L.P., the developer of Riverton, a mixed-use development, for up to $400 million in state tax credits via Aspire Program; this is the first award under the program's "transformative" designation. The subsidy is equal to 50% of developer's eligible expenses. The project will include 1.8 million sq. ft. of residential space, 20% of which is required to be affordable housing, 800,000 sq. ft. of commercial space and several public amenity spaces. Overlaps with main data: none.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.