New Jersey Commerce & Economic Growth Commission
Urban Enterprise Zone Authority
Urban Enterprise Zone Assistance Fund Project

Cambria Avenue Extension Project

The Urban Enterprise Zone Assistance Fund is to be used for the purpose of assisting qualified municipalities in which enterprise zones are designated in undertaking public improvements and in upgrading eligible municipal services in designated enterprise zones.

PROJECT DESCRIPTION

This project will provide Zone Assistance Funds in the amount of $500,000 for the construction of a new city street through the city-owned Cambria Avenue Industrial Tract, which is fully within the Pleasantville Urban Enterprise Zone (PUEZ).

Ten acres of the Cambria Avenue Industrial Tract, currently owned by the City of Pleasantville, is under contract of sale to Matthew Feinstone, who will be designated the redeveloper of the Tract by the city’s Redevelopment Authority, the City Council. The Tract, also reference as Cambria Park, has been subject to nearly five years of concerted effort by the UEZ to develop what was once a municipal dump in a distressed industrial zone. Another five acres of Cambria Park has been put under a contract of sale to a second redeveloper, who has expanded an existing recycling operation.

Both the contract of sale and the proposed redevelopment agreement require the city to provide the street access into and through the Tract. The redeveloper will then construct 150,000 square feet of light industry flex building space and a 4,000 square foot office in which 80-100 small businesses could be located. The new construction would represent a $3.5 million ratable to the city. Currently, there are seven businesses in the vicinity of the project site.