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Thread: Harrison Redevelopment

  1. #991
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    I'm guessing there will eventually be some kind of calamity and then they'll fix the problems.

  2. #992
    Forum Veteran West Hudson's Avatar
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    Cool Hoboken's Fields Development Throws Hat into Harrison's Revitalization

    Harrison Commons Building 3 (300 Cifelli Drive)

    A few months ago on this board I expressed my hope that Fields (probably the most active developer in Hoboken and builder of Waldo Lofts and the Madox in Jersey City) would get involved in Harrison Commons, and sure enough, I spotted this at the 300 Cifelli site today (where full-blown piling work started on Friday):



    Quite a bit of drilling for the piles took place on Friday:



    Several pieces of heavy equipment were delivered toward the end of last week:




    200 & 250 Bergen Street

    Excavation started on Friday. The buildings should go up quickly as (I believe) the piling work was completed back in 2007 before the housing market crash.




    Vermella (1100 FER South)

    The rest of the concrete structure is going up quickly and several stair & elevator towers have reached the building's 5-story height:







    Overhead utilities are being taken down:



    Water's Edge (300 & 301 Dey Street)




    Element (399 Somerset Street)


    The final product. The hotel is scheduled to open on August 21st.





    New landscaping has gone in on Somerset Street:




    Demolition Work


    Several buildings just south of the Northeast Corridor have recently been demo'd or are undergoing demolition.



    Last edited by West Hudson; August 13th, 2014 at 01:20 PM.

  3. #993
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    Are they planning on adding a building on that open lot next to the Element and parking garage?

  4. #994

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    Quote Originally Posted by Nexis4Jersey View Post
    Are they planning on adding a building on that open lot next to the Element and parking garage?
    Yes, that's supposed to be another residential building. It's supposed to be about as tall as the Element to continue wrapping and hiding the garage.

  5. #995

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    Great progress! The next two years will be interesting!

  6. #996
    Forum Veteran West Hudson's Avatar
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    Post Construction Loan for Hampshire Companies Project

    From GlobeSt.com:


    NorthMarq Capital Secures $16.9M Construction Loan in Harrison, NJ

    By Steve Lubetkin | New Jersey

    Keynote speaker just added for RealShare NEW JERSEY on September 11 at the Hyatt Regency in New Brunswick. Register today. Hear Jeff Bell describe his vision for the economic future, and get the latest market intelligence from commercial real estate experts from across the Garden State.

    HARRISON, NJ—NorthMarq Capital’s New Jersey based regional office closed a $16.9 million 30-month construction loan for the Cookie Factory, a 104-unit multifamily property to be built on Essex Street in Harrison, NJ.

    The development, which is planned for a currently vacant property, is named for the historic presence of a cookie factory on the property some years ago.

    “There were a number of lenders interested in providing the financing,” Gary Cohen, senior vice president/senior director of NorthMarq, tells GlobeSt.com exclusively. “There was a lot of demand for this deal and First Niagara Bank structured a competitive loan to win the business. This will be the third or fourth building developed in the area.”

    The transaction was arranged for the borrower, Bergen Street Urban Renewal LLC (a joint venture between an affiliate of the Hampshire Companies and the CrownPoint Group) byNorthMarq through its relationship with First Niagara Bank.

    “You’ve got a town that’s willing to work with developers to approve multifamily development and provide PILOT agreements (payment in lieu of taxes), which are economically feasible for the developer and the town,” says Cohen. “They really want to try to redevelop this particular section of Harrison with new housing and make it a vibrant area.”

    The project will consist of two, four story buildings that are connected by a common clubhouse. There will be a mix of studio, one-bedroom and two-bedroom units with an average monthly rental of approximately $1,900.


    Link: http://www.globest.com/news/12_924/n...NJ-349345.html


  7. #997
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    What are these prefab bridge segments doing at the PATH yard?

    Prefab Bridge pieces in the PATH Harrison Yard by Nexis4Jersey09, on Flickr

  8. #998
    Forum Veteran West Hudson's Avatar
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    Thumbs up Another $85 Million, 270+ Units & 15k sf of Retail Pitched

    According to NJBiz, the building will be immediately north of RiverPark, at the intersection of Harrison Avenue & Dey Street, and they expect to break ground in six months. The site is currently occupied by a lumber yard and a used car dealership. There's been alot of infrastructure work at that intersection in the past month, but I'm not sure if it's related.

    Last Updated: August 18, 2014
    New $85 Million Harrison, NJ MF on Tap for HornRock Properties

    By Steve Lubetkin | New Jersey

    Keynote speaker just added for RealShare NEW JERSEY on September 11 at the Hyatt Regency in New Brunswick. Register today. Hear Jeff Bell describe his vision for the economic future, and get the latest market intelligence from commercial real estate experts from across the Garden State.

    David (L) and Maurice Hornblass of HornRock Properties


    HARRISON, NJ—HornRock Properties, a privately run real estate development firm led by Maurice and David Hornblass, is developing a 270+ unit apartment building in Harrison, NJ, that will include 15,000 square feet of retail space. The building will rise in a commuter-oriented neighborhood near the Harrison PATH station that is quickly becoming a popular alternative to pricier transit-oriented neighborhoods in Hoboken and Jersey City. Its expected value once stabilized will be $85 million.

    “What separates us from other homebuilders actively looking to add assets is a willingness to invest and build a variety of product types as long as they meet certain criteria,” says David Hornblass. “We seek properties that are well-located, near transportation and are in markets where there is either a strong demand for a specific housing type or tremendous growth potential.”

    HornRock has experienced notable growth in the past two years by investing in and developing several residential real estate assets in the Metropolitan New York marketplace.

    The Paramus, NJ-based company has added nearly 400 units to its for-sale and rental portfolios over the past 24 months, acquiring underperforming assets in suburban and urban locations, improving these projects and introducing new communities which produce high rates of return.

    “Several factors have enabled us to greatly expand our portfolio and has us well positioned for future investment opportunities,” says Maurice Hornblass. “We have the funds and necessary resources to compete in the bidding process for new properties and develop both large and small-scale projects. Our experience and results appeal to outside investors and private equity real estate funds who are looking for investments that will yield them superior returns on their money. And a strong market knowledge and proven ability to solve challenging local building regulations or trying approval standards appeal to existing property owners looking for partnerships.”

    Since the start of 2014 alone, the developer has added two new for sale projects totaling nearly 60 homes. HornRock Properties has unveiled Legacy of Mountain Lakes, a townhome community in Morris County, NJ, and recently announced the acquisition of phase two of 31 additional homesites at Highpointe at Woodbury Junction, a single-family community in the historic Hudson Valley.


    Link: http://www.globest.com/news/12_925/n...es-349401.html


    From NJBiz:

    Developer plans $85M apartment community for Harrison

    By Joshua Burd
    August 18, 2014 at 1:58 PM

    COMMENTSEMAILPRINT
    LATEST NEWS


    HornRock Properties will build an $85 million apartment community in the commuter-oriented redevelopment area in Harrison, the Paramus-based real estate firm announced.

    Plans call for about 270 rental units and 15,000 square feet of retail space near the Harrison PATH station, according to a news release. By targeting the Hudson County town, the firm said it hopes to capitalize on a growing alternative to pricier transit-oriented neighborhoods in Hoboken and Jersey City.

    The project is located at Dey Street and Harrison Avenue, HornRock said. The company expects to break ground six months from now.

    The project is part of a growing pipeline for Harrison, which has spent more than a decade working to redevelop a blighted industrial section of its waterfront along the Passaic River. For HornRock, it’s the latest move in a two-year period in which it has grown by investing in and developing residential properties in the New York area.

    The company, led by Maurice and David Hornblass, announced in 2012 that it planned to acquire $125 million in real estate assets in the near future, the news release said. It has since exceeded those numbers.

    The firm has added nearly 400 units to its for-sale and rental portfolios in the past 24 months, the news release said. Most recently, it added two new for-sale projects in Mountain Lakes and Central Valley, N.Y.

    Link:
    http://www.njbiz.com/article/20140818/NJBIZ01/140819783/Developer-plans-$85M-apartment-community-for-Harrison
    Last edited by West Hudson; August 19th, 2014 at 12:27 AM.

  9. #999

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    QUOTE=tbal;449347]According to NJBiz, the building will be immediately north of RiverPark, at the intersection of Harrison Avenue & Dey Street, and they expect to break ground in six months. The site is currently occupied by a lumber yard and a used car dealership. There's been alot of infrastructure work at that intersection in the past month, but I'm not sure if it's related.

    Last Updated: August 18, 2014
    New $85 Million Harrison, NJ MF on Tap for HornRock Properties

    By Steve Lubetkin | New Jersey

    Keynote speaker just added for RealShare NEW JERSEY on September 11 at the Hyatt Regency in New Brunswick. Register today. Hear Jeff Bell describe his vision for the economic future, and get the latest market intelligence from commercial real estate experts from across the Garden State.

    David (L) and Maurice Hornblass of HornRock Properties


    HARRISON, NJ—HornRock Properties, a privately run real estate development firm led by Maurice and David Hornblass, is developing a 270+ unit apartment building in Harrison, NJ, that will include 15,000 square feet of retail space. The building will rise in a commuter-oriented neighborhood near the Harrison PATH station that is quickly becoming a popular alternative to pricier transit-oriented neighborhoods in Hoboken and Jersey City. Its expected value once stabilized will be $85 million.

    “What separates us from other homebuilders actively looking to add assets is a willingness to invest and build a variety of product types as long as they meet certain criteria,” says David Hornblass. “We seek properties that are well-located, near transportation and are in markets where there is either a strong demand for a specific housing type or tremendous growth potential.”

    HornRock has experienced notable growth in the past two years by investing in and developing several residential real estate assets in the Metropolitan New York marketplace.

    The Paramus, NJ-based company has added nearly 400 units to its for-sale and rental portfolios over the past 24 months, acquiring underperforming assets in suburban and urban locations, improving these projects and introducing new communities which produce high rates of return.

    “Several factors have enabled us to greatly expand our portfolio and has us well positioned for future investment opportunities,” says Maurice Hornblass. “We have the funds and necessary resources to compete in the bidding process for new properties and develop both large and small-scale projects. Our experience and results appeal to outside investors and private equity real estate funds who are looking for investments that will yield them superior returns on their money. And a strong market knowledge and proven ability to solve challenging local building regulations or trying approval standards appeal to existing property owners looking for partnerships.”

    Since the start of 2014 alone, the developer has added two new for sale projects totaling nearly 60 homes. HornRock Properties has unveiled Legacy of Mountain Lakes, a townhome community in Morris County, NJ, and recently announced the acquisition of phase two of 31 additional homesites at Highpointe at Woodbury Junction, a single-family community in the historic Hudson Valley.


    Link: http://www.globest.com/news/12_925/n...es-349401.html


    From NJBiz:

    Developer plans $85M apartment community for Harrison

    By Joshua Burd
    August 18, 2014 at 1:58 PM

    COMMENTSEMAILPRINT
    LATEST NEWS


    HornRock Properties will build an $85 million apartment community in the commuter-oriented redevelopment area in Harrison, the Paramus-based real estate firm announced.

    Plans call for about 270 rental units and 15,000 square feet of retail space near the Harrison PATH station, according to a news release. By targeting the Hudson County town, the firm said it hopes to capitalize on a growing alternative to pricier transit-oriented neighborhoods in Hoboken and Jersey City.

    The project is located at Dey Street and Harrison Avenue, HornRock said. The company expects to break ground six months from now.

    The project is part of a growing pipeline for Harrison, which has spent more than a decade working to redevelop a blighted industrial section of its waterfront along the Passaic River. For HornRock, it’s the latest move in a two-year period in which it has grown by investing in and developing residential properties in the New York area.

    The company, led by Maurice and David Hornblass, announced in 2012 that it planned to acquire $125 million in real estate assets in the near future, the news release said. It has since exceeded those numbers.

    The firm has added nearly 400 units to its for-sale and rental portfolios in the past 24 months, the news release said. Most recently, it added two new for-sale projects in Mountain Lakes and Central Valley, N.Y.

    Link:
    http://www.njbiz.com/article/20140818/NJBIZ01/140819783/Developer-plans-$85M-apartment-community-for-Harrison[/QUOTE]

  10. #1000

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    Tbal, do we have any idea of the structure of the property ? I recall that someone proposed building a high rise on this site. I would not mind a 5 or 6 story building, but I do not want to see a high rise.

  11. #1001

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    Quote Originally Posted by dennis200dz View Post
    Tbal, do we have any idea of the structure of the property ? I recall that someone proposed building a high rise on this site. I would not mind a 5 or 6 story building, but I do not want to see a high rise.
    Hopefully it's not the horrible 1980's, simcity looking building they proposed a couple of years back.

  12. #1002
    Forum Veteran West Hudson's Avatar
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    The property was re-zoned for 3-5 story mixed-use after the highrise proposal fell through. But 270 units would require at least a midrise (if the development is spread across the street to encompass the Spanish Pavilion & Miles F. Kelly sites too). So I'm not sure...you could always go to Town Hall and ask to see any plans submitted. I'll keep on the lookout for this in the town council meeting agenda.

  13. #1003

  14. #1004
    Forum Veteran West Hudson's Avatar
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    Thumbs up Element Opens its Doors

    Starwood Hotels & Resorts’ Eco-Wise Element Brand Debuts in Harrison, NJ

    Element Harrison - Newark Offers Smart, Sustainable Lodging and a Center for Social Engagement within an Emerging Urban Lifestyle Destination

    STAMFORD, Conn., Aug 22, 2014 (BUSINESS WIRE) -- Starwood Hotels & Resorts Worldwide, Inc. HOT, -0.06% today announced the opening of Element Harrison - Newark, the brand’s second hotel in New Jersey. Featuring 138 stylish, sustainable rooms and a light-filled atmosphere designed to fuel a life in balance and on the move, the new Element will quickly emerge as the social hub of Harrison’s burgeoning urban lifestyle scene where business and leisure travelers, professional sports fans and locals will intersect in a fun, stimulating setting. The hotel is owned by Harrison Hotel 1, an entity of Ironstate Holdings, LLC and The Pegasus Group, and managed by Crescent Hotels & Resorts.

    Minutes from Manhattan, Jersey City and Newark via the adjacent PATH Station and five miles from Newark International Airport, Element Harrison - Newark offers easy access to the area’s myriad cultural, recreational, dining and entertainment pursuits. When not socializing in the hotel’s welcoming lobby or outdoor patio, guests can walk to a variety of new shops and restaurants and are within proximity of Newark’s downtown business district. Sports and entertainment can be found at Harrison’s 25,000-seat soccer stadium for the NY Red Bulls professional soccer team, and the Prudential Center in Newark, which is home to the New Jersey Devils hockey team, college basketball and concerts throughout the year.

    “Element Harrison – Newark is an exciting addition to the Element portfolio and will provide a smart, sustainable lodging option for travelers to the bustling Newark metropolitan area,” said Brian McGuinness, Senior Vice President of Specialty Select Brands for Starwood. “On track to double its portfolio in the next two years, Element offers guests a bright, energizing environment that's conducive to both work and play, as well as a line-up of innovative brand-led programming.”

    Designed by progressive New York architectural firm HWKN, the new hotel features a distinctive façade that tips its hat to the innovative thinking of the Element by Westin brand. By creating a trompe l'oeil effect (trick of the eye), HWKN toyed with the building’s form – creating the playful illusion that each window is three dimensional. The highly cost effective yet eye catching design response mirrors the Element’s offering to extended stay visitors.

    The stylish, sustainable rooms and suites at Element Harrison – Newark feature a fluid design of modular furniture, flat-screen televisions, large desks with open shelving, custom-designed closets and original artwork from local artists. Rooms will also offer fully-equipped kitchens and the signature Heavenly® Bed, and spa-inspired bathrooms will feature an invigorating rain shower and dual-flush toilet. Other brand signatures include a state-of-the-art, 24-hour fitness center, indoor pool, and a 1,500 square-foot meeting room with modular furnishings, a flexible layout and state-of-the-art technology that can be customized to meet any business or social needs. Guests can stay on the move with Element’s complimentary bikes to borrow and enjoy fun and free extras including complimentary Wi-Fi throughout the hotel, the signature RISE breakfast, RELAX evening reception, and salon bar carts stocked with premium wines and beers, soft drinks and snacks, available after hours.

    Element Harrison – Newark was developed by Ironstate Holdings, LLC and The Pegasus Group as part of the Partnership’s larger, mixed-use development that will ultimately comprise 2,600 luxury residential residences and 80,000 square feet of street-level retail space, the first phase of which has already been completed. A hotbed of activity and investment, Harrison is also benefitting from a $256 million upgrade of the PATH Station by the Port Authority of New York and New Jersey.

    “The opening today of Element Harrison - Newark is a landmark moment as it helps advance Harrison’s growth as a stand-alone, well-balanced urban destination that’s also a great launching point for excursions to Manhattan and other New Jersey Gold Coast locations,” said Michael Barry, President of Ironstate Holdings, LLC. “Starwood’s forward-thinking Element concept is a great complement to our broader vision for Harrison and reflects the national interest and significant financial investment the area continues to garner.”

    “We are delighted to partner with Starwood Hotels to introduce its popular Element brand to this new entertainment destination in the area,” said Michael George, CEO of Crescent Hotels & Resorts. “One of the industry’s most innovative brands, Element appeals to business and leisure travelers with its emphasis on clean, sustainable living.”

    Element is the first major hotel brand to mandate that all properties pursue the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) certification for high-performance buildings. It’s recognized as an industry leader in the eco-space, and offers travelers a fresh, reimagined interpretation of the extended stay hotel experience.

    About Element Hotels
    Element® Hotels is made to order for guests in the know and on the go. Its bright design defies convention, bathing guest rooms and public spaces in natural light. Stylish and sustainable throughout, Element offers extended stay comfort with a conscience and lots of signature amenities from its healthy RISE breakfast and RELAX evening reception to saline swimming pools, spacious fitness centers, bikes to borrow and electric vehicle charging stations. Starwood’s latest brand innovation, Element made history in 2008 as the only major hotel brand to pursue LEED certification for high-performance buildings brand-wide. To date, there are Element hotels in 11 markets in North America with new domestic and international hotels in development. Visitwww.ElementHotels.com or connect on Facebook.

    About Starwood Hotels & Resorts Worldwide, Inc.
    Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with nearly 1,200 properties in 100 countries, and 181,400 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and Element®. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG®), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visitwww.starwoodhotels.com.

    About Ironstate Holdings, LLC
    Ironstate Holdings, LLC (and Ironstate Development Company) is one of the largest privately held real estate development companies in the Northeast. Based in Hoboken, New Jersey, Ironstate engages in the development and management of large-scale mixed-use projects and has a diverse portfolio of residential and hospitality assets. Additional information on Ironstate Development Company is available on the Company’s website atwww.ironstate.net.

    About Crescent Hotels & Resorts
    Crescent Hotels & Resorts is a nationally recognized, top-10 independent third-party operator of hotels and resorts. Crescent currently operates over 80 hotels and resorts, with close to 19,000 rooms in 29 states and Canada. Crescent is one of a small group of independent management companies approved to operate hotels under the Marriott, Hilton, Starwood, Hyatt and InterContinental flags. Crescent also operates a collection of legendary independent hotels and resorts. For more information, please visit www.chrco.com.

    (note:This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions)(note:we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement)(note:whether as a result of new information)(note:future events or otherwise.)

    Photos/Multimedia Gallery Available:http://www.businesswire.com/multimed...0822005505/en/
    SOURCE: Starwood Hotels & Resorts Worldwide, Inc.
    Starwood Hotels & Resorts

    Copyright Business Wire 2014

  15. #1005
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    Default Soil Testing at HornRock Site

    Two drills were present at the HornRock site today on Dey Street for soil testing. It was stated in the press release issued a few weeks ago that the firm intends on starting construction within the next 6 months.




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