Real Estate

Bayonne Designates New Developer for Peninsula Tract

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BAYONNE, NJ – After the Bayonne City Council last week designated JMF Properties of Morris County as the developer of a 16-acre portion of the Peninsula at Bayonne Harbor, the former Military Ocean Terminal, the city and company have reacted to the move.

“JMF Properties is proud to enter into this public-private partnership with the city of Bayonne and looks forward to taking an active role in the overall redevelopment of the Military Ocean Terminal,” said Joe Forgione, founder and principal of the firm based in the Whippany section of Hanover Township.

JMF will develop a portion of the Harbor Station South section of the Peninsula. Forgione said that the construction will consist of for-purchase townhomes and retail. He referred to the company’s previous successful projects in Denville, Hanover, Maplewood and Parsippany.

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“This is a very good first step. I’m pleased that the City Council took this action,” Bayonne Mayor James Davis said. “I look forward to working with Mr. Forgione and JMF Properties as we move forward to formalize the details of how the property will be developed ...”

Originally, the city had worked out a deal with Kate Howard LTD, the development arm of the Chinese import/export company Waitex, to build on 71 acres of Harbor Station South. That agreement fell through in March.

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