Two more landlord companies join HRPOCA.

AIG Environmental, Inc. of Parsipanny and Panepinto Properties of Jersey City are the newest members of the Hudson River Property Owners and Conservators Association (HRPOCA).

The two firms join the association's burgeoning roster of prominent developers, corporate users, condominium associations and not-for-profit organizations who share a common interest in achieving positive growth along New Jersey's Hudson River waterfront, according to Ciorsdan Conran, Executive Director of Hoboken-based HRPOCA.

"It is our pleasure to welcome these two companies to our diverse list of members," says Ms. Conran. "Both bring a specific knowledge and expertise which will prove vital in our ongoing efforts to ensure the Hudson River waterfront continues to develop into one of New Jersey's most desirable regions."

AIG Environmental has been a leading provider of environmental insurance programs for over twenty years. The company provides a complete line of environmental and casualty coverages, underwritten through member companies of American International Group, Inc.

AIG's decision to join HRPOCA was based on the company's belief in the value of beneficial partnership with developers, government agencies, public and private institutions and other interested parties in order to foster the responsible development of urbanized waterfront areas.

Panepinto Properties, Inc. is an active residential and commercial real estate developer along the Hudson River waterfront, notes Joseph Panepinto, the firm's principal. The company is currently involved in a variety of joint venture projects with other prominent developers, including several in Jersey City.

"The revitalization of Jersey City is something that I have been involved with for the past 30 years, both in the public and private sectors, and it is personally satisfying to have been a part of its success," Mr. Panepinto says. "We believe it is important to have an organization such as HRPOCA where interested parties can combine resources to encourage growth."

Formed in 1996, HRPOCA has provided an umbrella for development of the riverfront in an economically feasible manner consistent with public benefit and environmental sensitivity.

During the past year, the Association's initiatives included efforts to complete the Hudson River Waterfront Walkway and the creation of a private-public partnership between the County, Hudson County Improvement Authority (HCIA) and the Association to develop a Special Improvement District (SID) which would facilitate the release of public funds to build and maintain the entire route of the Walkway project.