KEARNY, N.J., April 27, 2016 /PRNewswire/ -- Hugo Neu, a leader in commercial real estate services, today announced the appointment of Michael Meyer as director of development for Kearny Point, the 130-acre, 1.5-1.75 million square foot business campus in New Jersey. Meyer will report to Hugo Neu's Chairman and Chief Executive Officer, Wendy Neu, and Chief Financial Officer, Steve Nislick.
As director of development, Meyer will work closely with the Kearny Point team to leverage its existing successful platform and drive growth across the broader redevelopment efforts, with a particular focus on the corporate real estate arm of the business. Meyer will help build on Hugo Neu's success with both small and larger business tenants by designing tenant specific programs that will assist them in securing multiple public incentives, a task which is challenging in multi-tenant commercial real estate buildings.
"Few people command the experience and knowledge of this region's commercial real estate business as Michael," said Hugo Neu Chairman and Chief Executive Officer, Wendy Neu. "In addition to depth, he also brings diverse experience that will help further Kearny Point's role as a multi-dimensional business campus. We are thrilled to have him."
"Kearny Point has so many assets to build upon--its location, scale and incredible history," said Meyer. "But there are also many challenges, many of which can only be solved through a partnership with the many public players that are invested in creating new employment opportunities, and redeveloping underutilized property in and near our urban cores. We intend to work closely with the folks at EDA, NJRA, DEP and elsewhere to make sure this project achieves the important policy and development goals so critical to enhancing the quality of life in our state."
Meyer has extensive history with the state and federal funding programs that are often used for urban redevelopment in New Jersey, such as the Community Development Block Grant program, historic and housing tax credits, infrastructure capital funding, the State's Economic Redevelopment Growth (ERG) program and Grow New Jersey among others.
Meyer comes to Hugo Neu with over 25 years of experience. As managing director at Kushner Companies, he was responsible for securing public debt and equity for transformational urban redevelopment in New Jersey. He successfully led and managed projects like One Journal Square, a $500 million, 1.2 million square foot project and advanced a development pipeline of over $2 billion in Newark, which includes new residential developments, parks, community facilities, and public and private infrastructure.
"Michael's depth of knowledge and industry experience will be of great value to Hugo Neu's Kearny Point leadership team," said Steve Nislick, Hugo Neu's Chief Financial Officer. "This key appointment reinforces our strategy to transform Kearny Point into a major economic engine of Northern New Jersey."
In November 2015, Meyer secured over $93 million of public financing for the $500 million development project, One Journal Square, sponsored by the Kushner Companies and the KABR Group in Jersey City.
In 2006, Meyer was appointed by then-Mayor Cory A. Booker to the position of Director of Real Estate and Housing for the City of Newark.
Meyer and Kearny Point ownership are committed to returning thousands of jobs to the once thriving historical area, acting as a catalyst for the revitalization of South Kearny.
About Kearny Point Industrial Park
Kearny Point Industrial Park is a 2 million-square-foot renovation project dating almost a century to its origins as a wartime shipyard. From 1917 to 1949 the property operated as the Federal Shipbuilding & Drydock Company. Federal was the Navy's preferred yard during World War II, employing 30,000 people and building ships faster than any yard in the world. After the war Federal began recycling those obsolete ships, and over the next 50 years River Terminal developed millions of square feet of industrial warehousing, distribution and office space. Hugo Neu has since worked to restore and repurpose the site as a business neighborhood. The company expects to create and save at least 5,000 jobs in New Jersey.
SOURCE Hugo Neu