NJ OKs $19M Grant For Brownfield Development

Law360, New York (June 12, 2012, 6:52 PM EDT) -- The New Jersey Economic Development Authority voted Tuesday to approve an award of up to $18.77 million over 20 years for developer Catellus Development Corp.'s proposed $101 million mixed-use project on a brownfield site in Teterboro formerly occupied by Honeywell International Inc.

Catellus bought the land in 2007 through its parent company, TPG Capital IP LLC, and affiliate ProLogis Inc., with plans to redevelop the contaminated site into a mixed-use community with nearly 1 million square feet of retail, office, hotel and light industrial space....
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