Wednesday, July 13, 2005

Big Toxic Property

Ciba-Geigy has apparently come up with a plan to develop a huge piece of property, which is also a superfund site. Last week we pointed out a Hovnanian plan to develop a site in the Highlands that also requires remediation. Fixing these sites up is a good idea. However, I can’t help but think that as memories dim, and disclosures are forgotten, successive owners of the properties in the future will be angry when they find out too late that their house is sitting on a former toxic waste dump.

“DOVER TOWNSHIP — New homes, a golf course and a mix of retail and office space could be developed on the former Ciba-Geigy Corp. Superfund site if a conceptual plan for the property becomes reality.

The plan, prepared by the Manhattan-based firm HLW International LLP, was presented Tuesday to the Toms River-Ocean County Chamber of Commerce.

It includes about 400 acres set aside for residential development on the Ciba site's northern section, 200 acres for a golf course in the southern area of the property, more than 200 acres of mixed office and retail use in the site's center, and a 150-acre park along the Toms River.”



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