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Thread: Hudson Lights - Fort Lee - New Jersey

  1. #16
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    Quote Originally Posted by tbal View Post
    Wow - thanks for posting this pic! I've been meaning to get up to Fort Lee for awhile myself. Did you happen to catch what's going on with The Modern towers?

    btw - what's with all the PA Police vehicles?
    Theres a few things under construction aside from the Hudson Lights project which is getting its foundation work done. They do inspection on some of the trucks going over the bridge ,same with the other PA bridges and tunnels.

  2. #17

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    I work in Fort Lee and will post some pictures soon. I don't believe the Hudson Lights started yet but the first building of the Modern is.

  3. #18
    Forum Veteran West Hudson's Avatar
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    Default Fort Lee Res Market Commanding Office Conversions

    I'm surprised how much activity is coming out of Fort Lee...because it became more attractive to Gold Coast developers over the past 5 years or so as Jersey City property became more expensive to acquire and all the best parts of Hoboken reached build-out. Of course West New York and Weehawken are seeing a ton of activity too, but that was triggered in part by the opening of the gleaming new ferry terminal and the work related to the F1 'track'. The below article is courtesy of NorthJersey.com:



    Fort Lee office building being converted to apartments


    Friday, August 23, 2013 Last updated: Friday August 23, 2013, 10:28 AM
    BY KATHLEEN LYNN
    STAFF WRITER
    The Record
    Print | E-mail

    After more than 30 years as an office building, a seven-story Fort Lee structure is being converted to 118 rental apartments, reflecting the growing strength of the rental market as well as continued weak demand for office space.

    The building, 1 Executive Drive, is part of a two-building, 600,000-square-foot complex called Fort Lee Executive Park, which was built in the late 1970s and early 1980s. New York developer Joseph Chetrit bought the office park, which also includes a parking structure, from the Witkoff Organization, another New York real estate company, in 2008 for $86.2 million.

    Chetrit got approval in late 2008 from Fort Lee zoning officials to change the building to mixed use, with offices on the lobby and lower lobby levels, and housing units on the five floors above. According to documents filed with the Fort Lee Building Department, the renovation is expected to cost more than $10.8 million.

    The building is on a high point visible from Routes 4 and 95. It is near other residential developments, including the Linwood Park co-op development and a gated apartment community.

    The project's architect, Conrad Roncati of Architectura in Fort Lee, said converting offices to apartments is challenging because office buildings are typically deeper — with larger floor plates — than residential buildings. The Executive Drive apartments will have high ceilings and a loft-like feeling, and will offer more space than similar places that began their life as apartments, he said.

    The original brown brick facade of the building is being replaced with a glass, metal and brick exterior, with floor-to-ceiling windows. The building, which will include a rooftop deck, is expected to be done in about six months, Roncati said.

    Proposals to convert offices to residential use have been on the rise because of an imbalance in the market. Offices in Bergen County have a vacancy rate of about 17.5 percent, according to the commercial brokerage Cushman & Wakefield, while residential rental vacancies are around 3.1 percent, according to Reis Inc., a real estate data firm.

    "As the office market dries up and buildings become vacant, we're going to need to repurpose them," Roncati said.

    Another example of this emerging trend: Mack-Cali Realty, the large Edison-based property company, recently said it's looking to convert a 47-acre office campus in Upper Saddle River to a mixed-use development dominated by upscale apartments. The land is now occupied by Pearson Education, which plans to leave by the end of 2014.

    And Chetrit's company is looking at similar conversions in New York City, where it has plans to create residential units at a former Sony headquarters, a former medical center, a former bank and a former city courts building, according to published reports.

    Most office tenants have left 1 Executive Drive during the reconstruction, with about 60 percent of them moving to 2 Executive Drive, the other building in the office park, according to Roncati. That building is expected to remain an office building, he said. Roncati said Chetrit is looking at the possibility of additional development at the site, but no decisions have been made yet.

    One tenant that remains at 1 Executive Drive is the U.S. State Department's diplomatic security field office, which plans to move to 2 Executive Drive within a few months, according to Mike Brantley, the administrating officer.

    Chetrit, who formerly lived in Englewood, also owns the Chelsea Hotel in New York. In 2004, he teamed up with partners to buy the 110-story Willis Tower (formerly the Sears Tower) in Chicago, the second-tallest building in the U.S., after the new One World Trade Center.

    Email: lynn@northjersey.com

    Link to article: http://www.northjersey.com/news/2207...partments.html

  4. #19
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    http://www.northjersey.com/news/220080801_Construction_picking_up_along_Hudson_Riv er.html?page=all

    North Jersey Hudson River waterfront rebounds with high-rises

    From Fort Lee south into Hudson County, cranes are rising and construction crews are laboring on more than a dozen multifamily buildings — including some projects that were long delayed.
    The new activity has been spurred by a brightening economy, as well as a spillover in demand from Manhattan and a rise in the number of households that would rather rent than own.
    The pace of residential construction has gotten so hot that Edgewater builder Fred Daibes is afraid there may be a glut of apartments on the waterfront within a few years.
    "That’s the cycle — nobody builds at all, and then everybody jumps in and starts building at the same time," Daibes said. His company expects to complete construction later this year on the Alexander, a 300-unit, 11-story building on River Road in Edgewater across from the Mitsuwa marketplace shopping center, which has been under construction since late 2011. (Completing a high-rise takes about two years, builders say.)
    The redevelopment of the Hudson River waterfront — once largely industrial — has been going on for decades, and the riverfront is lined with sleek new apartments, condos and shopping centers. But as dramatic as the transformation has been so far, construction stalled after the financial crisis of 2008, as the housing market slid into its worst downturn since World War II.
    Now, Hudson County is the leading edge of the state’s housing recovery, accounting for almost 17 percent of the building activity in the first five months of this year. Bergen County is second, accounting for about 10 percent of the state’s homebuilding.
    Even a development that has been delayed for more than 40 years is finally getting started. A 47-story glass tower, being built by Parsippany-based SJP Residential Properties in Fort Lee, just south of the George Washington Bridge, is the first piece of an ambitious, 16-acre redevelopment that was first proposed in the 1970s. The plan, on land once known as the Helmsley property, faced repeated setbacks, starting with the conviction of a developer who attempted to bribe the then-mayor. Other efforts languished over the years, including a development called Centuria, which spiraled into failure about five years ago, as the financial markets and housing industry seized up.
    Now, however, construction is moving forward. The site was split into two properties being handled by two different developers — the western half by Tucker Development Corp. of Illinois, and the eastern half by SJP, along with attorney James Demetrakis and the investment firm Palisades Financial.
    Eventually, the two sites will include stores, restaurants, a hotel, movie theater and a total of almost 1,400 housing units.
    "We’re going to create a new neighborhood," said Allen Goldman, SJP’s president. The building now under construction is expected to be done by the end of 2014, and a second glass high-rise will get started then.
    Builders say the waterfront is benefiting from Manhattan’s hot apartment market, as households seek more affordable alternatives across the river, where rents can be a third or more lower.
    "Our fate is tied to Manhattan," said Henry Waller, vice president of Toll Brothers City Living, which is constructing the third of four planned condo buildings that will make up the Maxwell Place luxury development in northern Hoboken. Toll Brothers City Living also built the Hudson Tea complex in Hoboken. The buildings are on former industrial sites once used by the tea, coffee and baking industries.
    By drawing people who can’t or won’t pay Manhattan prices, the New Jersey riverfront is "functioning the way the Brooklyn and Queens waterfronts are functioning," said Carl Goldberg, co-president of Roseland Property, a Mack-Cali subsidiary that is the lead developer of Port Imperial, the redevelopment of industrial land in Weehawken and West New York.
    Three buildings are under construction at Port Imperial — two rentals being built by Roseland and a condominium being built by Lennar Corp. of Miami.
    Port Imperial, which was started in the late 1990s, is expected to be completed in five to seven years. When it is done, the $2 billion, 2 1/2-mile-long project will include about 6,000 housing units in two dozen buildings, along with office, hotel and retail space.
    The redevelopment along the river reflects a market shift to multifamily buildings, which now make up more than half of the new construction in the state. That’s a big change from the historic patterns in New Jersey, which has been dominated for decades by single-family development.
    One big reason for the change is a heightened demand for rentals, partly because fewer households can qualify for mortgages. But the new construction along the waterfront has largely been luxury housing. Many of these residents could afford to buy, but choose to rent because, builders say, they want more flexibility or a more urban lifestyle. Often, they’re young people getting launched in their careers, or empty-nesters who no longer need big suburban houses.

    Demographics shift

    "I had always believed that the rental market was underserved in Bergen County," said Goldman of SJP. "Bergen County has traditionally been a single-family homeowner market, but the demographics have changed, and people are saying, ‘Do I really need to own?’ " For that reason, he said, he does not share Daibes’ concerns about overbuilding on the waterfront.
    Builders have shifted away from condos as demand dropped. For example, the Livingston-based BNE Group originally conceived its new 194-unit Fort Lee building as condos, but got approval to make the units rentals instead. Similarly, Hartz Mountain, which is building the Estuary, a three-building, 589-unit rental complex near the Lincoln Tunnel, had originally planned to sell the Weehawken land to a condo developer before deciding to build the rentals.
    But even some for-sale builders are seeing signs of revived interest along the waterfront. K. Hovnanian Homes of Red Bank, for example, builds only for-sale properties. Its 77 Hudson high-rise in Jersey City, where condos run from the $400,000s to $2.6 million, is almost sold out, according to Randy Brousseau, area vice president. The buyers are a mix of foreigners, suburbanites who have sold their single-family homes, and New Yorkers crossing the river.
    The company also owns three parcels in the Port Imperial development in Weehawken. It held off developing that land during the housing downturn, unwilling to build homes that it couldn’t sell at a good price.
    But Hovnanian is now making plans to start building on one of the sites, possibly as soon as next spring, Brousseau said. The first building is expected to be 300 condos in 12 stories.

    Traffic concerns

    Not everyone is happy about the construction along the waterfront; residents have raised concerns about traffic. There’s only one major north-south route — River Road in Edgewater, which becomes Port Imperial Boulevard in West New York and Weehawken — along the narrow strip of land between the river and the Palisades.
    Goldberg, of Roseland Property, says that traffic is not as bad as it could be, because many waterfront residents depend on public transportation, including the Hudson-Bergen light rail line and the ferry to New York City. In fact, Roseland has been able to cut back on the number of parking spaces at its newer buildings because some residents don’t even own cars.
    Brousseau, who lives with his family in a Hovnanian development along the waterfront, said that traffic is part of the tradeoff for living in an urban area.
    "Does traffic get bad at times? Absolutely," he said. "But I couldn’t replicate the view and the atmosphere and the access to the city."
    - See more at: http://www.northjersey.com/news/2200....hYrGut7n.dpuf


    After a dramatic slowdown during the housing bust, construction is buzzing along the Hudson River waterfront. - See more at: http://www.northjersey.com/news/2200....hYrGut7n.dpuf

  5. #20

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    these are quite noticeable on certain flight paths out of LGA

  6. #21
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    Thumbs up 1 Executive Drive Rendering

    Here is a rendering of what the finish product should look like once the conversion of 1 Executive Drive from office to residential is completed:



    http://www.northjersey.com/news/2207...partments.html
    Last edited by JCMAN320; October 22nd, 2013 at 03:46 PM. Reason: Original post was duplicate

  7. #22
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    Cool Hudson Lights Breaks Ground

    Retail, luxury development to rise on Fort Lee lot that sat empty 50 years

    By Myles Ma/NJ.com
    Email the author | Follow on Twitter
    on October 16, 2013 at 12:55 PM


    Officials take part in an official groundbreaking ceremony for Hudson Lights in Fort Lee, Oct. 16, 2013.
    Myles Ma/NJ.com


    FORT LEE — Earth movers and tractors were pushing dirt around Wednesday at a lot that had sat undeveloped for almost 50 years.

    Tucker Development plans to construct 1 million square feet of retail, luxury apartments and parking at the parcel bordered by Main Street, Martha Washington Way, Bruce Reynolds Boulevard and Central Road.

    “This has taken a little bit of time,” Richard Tucker, CEO of Tucker Development, said at the official groundbreaking for Hudson Lights, drawing laughs.

    Developers have been trying to make something of the lot for almost all of 50-year-old Mayor Mark Sokolich’s life. Today, a half-built 48-story glass building looms over the site, with a sister building to go up soon after, part of the Modern, one of the other large developments coming to Fort Lee.

    The first phase of the Hudson Lights development will join the towers soon. It will make Fort Lee a shopping destination, Sokolich said, and continue what the mayor called the Borough’s “renaissance.”

    “Fort Lee is going to resume its place on the mantel as the premier place to live, work and raise a family in Bergen County,” he said.

    Tucker bought the site in 2009 from Town and Country Developers, whose plans for the site collapsed with the economic recession. Town and Country bought the property in 2005 from the estate of real estate magnate Harry Helmsley, who was also thwarted in attempts to develop the site.

    Even the mob tried to develop the site, famously attempting to bribe former mayor Burt Ross.

    Tucker said he wasn’t deterred by the site’s troubled past.

    “Great real estate, great market,” he said. “History didn’t matter all that much to us.”

    Tucker Development is constructing Hudson Lights in a joint venture partnership with Ares Management and Kushner Real Estate Group. The partnership announced in September that it had secured $218 million in financing for the project.

    iPic Theater plans to anchor Hudson Lights with its first northeast location. The company operates luxury movie theaters and restaurants.

    Moviegoers can reserve seats, and are served chef-prepared food and drinks by waiters, Jim Lee, vice president of marketing and advertising, for iPic, said.

    Tucker declined to name other prospective tenants.

    “We have a number that we’re in-depth negotiations with,” he said.

    He also did not give a time frame for phase two of the project, which would include a hotel and more residences and retail space.

    Phase one should open in less than two years
    , Tucker said.

    http://www.nj.com/bergen/index.ssf/2..._50_years.html

    ------------------------------------------------------------------------------------------------------------------------------------------

    Fort Lee officials hope traffic improvements can handle coming influx of residents

    By Myles Ma/NJ.com
    Email the author | Follow on Twitter
    on October 18, 2013 at 1:20 PM


    Construction has started on Hudson Lights in Fort Lee, Oct. 16, 2013.
    Myles Ma/NJ.com


    FORT LEE — Hundreds of new residents will soon call Fort Lee home when construction finishes on the massive developments known as Redevelopment Area 5.

    Fort Lee is already preparing city streets and sidewalks for the influx of traffic they will bring to an already congested community, Mayor Mark Sokolich told NJ.com.

    The Borough has widened roadways surrounding the properties that will eventually house luxury apartments and retail shops as part of the Hudson Lights and Modern developments. Sokolich said Fort Lee would also expand its free shuttle service and widen sidewalks in the area.

    Most ambitiously, the Borough plans to install an adaptive traffic signalization system. Such systems connect traffic lights under a single network that synchronizes the signals based on live traffic conditions. The Meadowlands Commission is implementing its own system in its coverage area.


    Sokolich hopes the system will be live by the time the first 48-story Modern tower is complete in early 2015. But unlike the Meadowlands Commission, Fort Lee doesn't hold sway over the jurisdictions that control the roadways where the signals will go, such the county and the Port Authority (which has its own issues with traffic), so getting approvals for the system may take time.

    The various improvements won't cost Fort Lee, as the developers agreed to pay for them as part of the approval process, Sokolich said.

    The mayor expects the changes to absorb whatever additional traffic the new developments create.

    "It's not going to be worse than it is now," he said.

    http://www.nj.com/bergen/index.ssf/2...l#incart_river
    Last edited by JCMAN320; October 22nd, 2013 at 03:50 PM.

  8. #23
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    Where is Fort Lee coming back from? Did it go anywhere?

  9. #24
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    To the admins: anyway we can merge this thread with the FORT LEE COMEBACK thread to minimize redundant posts in both threads?

  10. #25
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    PM Zippy.

  11. #26

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    Threads merged.

  12. #27
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    Quote Originally Posted by ZippyTheChimp View Post
    Threads merged.
    Thanks Zip!

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    That tower is in Fort Lee?

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    Quote Originally Posted by Ed007Toronto View Post
    That tower is in Fort Lee?
    Yes it is.

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