SOMERVILLE, NJ – The Somerset County Improvement Authority (SCIA) has entered into an agreement with the Natirar Resort and Peapack & Gladstone to finance environmentally efficient improvements to the existing historic buildings, the Ninety Acres restaurant, and several additional facilities. The $26 million bond issue, the first ever under the state’s new Commercial Property Assessed Clean Energy (C-PACE) program, will ensure the new luxury hotel and resort minimizes its impact on the environment while drawing tourists and events to the County’s growing economy.

“Somerset County is committed to both expanding our destination tourism industry and protecting our environment, and this C-PACE project with Natirar is a perfect example of how we can do both,” said Somerset County Commissioner Deputy Director Melonie Marano. “Natirar’s fantastic history, stunning open space, new hotel resort and the Ninety Acres restaurant will be an environmentally sensitive draw to people down the street and across the country."

Somerset County’s hospitality industry was particularly hard hit by the COVID pandemic’s reduction in business travel, and the County has been working to expand its historical, event, and destination tourism to make up for the loss. When the Natirar Spa and Resort is completed, it will be a significant addition to Somerset County’s wedding, health and wellness, and farm-to-table tourism markets.

The C-PACE program was signed into law by Governor Phil Murphy in August 2021 and was sponsored by Somerset County’s own Senator Kip Bateman along with Senator Bob Smith and Assemblyman Raj Mukerji. C-PACE projects around the country have led to more businesses and landlords embracing renewable energy, climate resiliency technology, and other clean energy measures that improve our communities while saving money for developers and local residents.

“As Ninety Acres celebrates thirteen years of memorable dinners and celebrations, Natirar is moving forward with the renovation of the restaurant and historic mansion, and the creation of a new hotel and resort,” said Bob Wojtowicz, founder and owner of Natirar. “The partnership with Somerset County and Peapack-Gladstone on the PACE funding will result in significantly less impact on the environment and far more energy savings in the new Natirar Resort.”

The Natirar Resort in Peapack & Gladstone will consist of the newly refurbished Ninety Acres restaurant, a sixty-six-room luxury hotel, a 12,000-foot luxury spa, a fitness and wellness center, residential homes, and various other supporting resort facilities. The resort sits on 90 acres leased from Somerset County in 2003 and is connected with the County’s 404-acre Natirar Park that runs along the North Branch of the Raritan River.

There are three partners making this first ever New Jersey C-PACE program possible: the SCIA is providing the financing authority using Somerset County’s low interest rates based on its AAA bond rating with no impact to the County budget; Peapack & Gladstone which passed the required ordinance allowing the program to go forward in their municipality; and the Natirar Resort which commits to make special property tax assessment payments to Peapack & Gladstone to pay off the 30-year loan.  

“Somerset County has a deep commitment to the environment, but also to providing support for our business community,” said SCIA Chair Joel Shain. “The innovative C-PACE program is a great tool to achieve both goals, and I’m proud to work with our partners on the first such project in the Garden State.”

“We are very happy to have Natirar contributing to our community, and even happier to be able to partner with Somerset County to facilitate these environmentally sustainable additions and renovations,” said Peapack & Gladstone Mayor Gregory Skinner. “Encouraging green building is simply something we should all be doing, and we’re glad to be part of New Jersey’s first C-PACE project.”

Some of the upgrades and new projects will include green roofing, renewable energy projects, specialized lighting systems, e-glass windows, and highly efficient HVAC systems in all buildings.