CONSTRUCTIONAPPROVED

New Jersey Division of Local Government Services Awards Construction Contract to Sackman Enterprises (February 2026)

The Local Finance Board approved up to $13.7 million in nonrecourse bonds for Sackman Enterprises' approximately $166 million Keansburg waterfront redevelopment. The project will be delivered in about 10 phases and includes approximately 783 residential units, 69,000 square feet of retail, parking, and public improvements.

Document date · February 11, 2026

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
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Scope & details

The full contract record, as filed.

Contract amount
Approximately $166,000,000 total redevelopment project; up to $13,700,000 in Redevelopment Area Bonds
Contract type
CONSTRUCTION
Contract term
Approximately 10 phases; bonds amortized over 25 years and PILOT payments modeled over 30 years
Renewal date
2051-02-11
Renewal
The project is structured in up to 10 bond tranches, with each phase financed as needed. Bond debt is amortized over 25 years and supported by a 30-year PILOT structure.
Document type
Transcript
Source document
New Jersey Department of Community Affairs Transcript 2026-02-11

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by New Jersey Division of Local Government Services?

Sackman Enterprises was awarded this construction contract by New Jersey Division of Local Government Services, as recorded on February 11, 2026. The contract value is Approximately $166,000,000 total redevelopment project; up to $13,700,000 in Redevelopment Area Bonds.

How much is the Sackman Enterprises contract with New Jersey Division of Local Government Services worth?

The Sackman Enterprises contract with New Jersey Division of Local Government Services is valued at Approximately $166,000,000 total redevelopment project; up to $13,700,000 in Redevelopment Area Bonds, covering construction work.

What type of contract is this?

This is a Construction contract, documented as a transcript record.

Where was this contract approved?

This contract appears in New Jersey Department of Community Affairs Transcript 2026-02-11 (Transcript), dated February 11, 2026 from New Jersey Division of Local Government Services. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Sackman Enterprises hold?

Sackman Enterprises may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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