Advance Realty Announces Hotel Development Plans for Riverbend District in Harrison, N.J.
85,000-SF Facility to Feature 150 Rooms, Retail and Restaurant Space
Advance Realty, a leading Northeast U.S. owner, developer and manager of Class A multifamily, mixed-use, retail, hotel, office and flex-space properties, announced plans today to build an AC Hotel by Marriott in the Riverbend District, the company’s 35-acre redevelopment project in Harrison, New Jersey.
Designed in AC Hotel’s sophisticated European style, the build-to-suit, 85,000-square-foot hotel will feature 150 sleek guest rooms. Additionally, the hotel will feature a modern and relaxing bar and lounge area and a breakfast area — both of which will include outdoor seating. Other amenities will include a meeting room, a fitness center and a contemporary lobby.
The hotel will also feature more than 4,300 square feet of retail and restaurant space, supplementing the residential, retail and office space that Advance is already developing in the Riverbend District.
“The addition of AC Hotels by Marriott to the Riverbend District will be a key component in the continued development and enhancement of a dynamic destination in Harrison,” commented Peter Cocoziello, President of Advance Realty. “The AC Hotel will benefit area corporations by accommodating business travel and will add to the variety of dining and entertainment options for Riverbend residents and visitors.”
Earlier this year, Advance Realty, along with joint-venture partner DeBartolo Development, announced the development of 1,000 luxury apartments and 20,000 square feet of premium retail space on three blocks within the district. The area already hosts professional soccer’s New York Red Bulls in the 25,000-seat Red Bulls Arena, and it will soon house a newly renovated PATH station offering direct rail access to New York City.
In addition, Panasonic Corporation of North America has moved into a new technology center that Advance developed within Riverbend. This facility houses the company’s engineering offices, a lab and various testing areas.
Located in the southern portion of town, Harrison’s 250-acre waterfront redevelopment area encompasses 32 percent of the town’s 1.2 square miles. The town’s master plan calls for the transformation of the area over 10 years. The area is within one mile of Downtown Newark, less than five miles from Jersey City and eight miles from Manhattan.
The comprehensive redevelopment effort will deliver new residential opportunities and hundreds of thousands of square feet of retail and commercial space as well as public spaces. It will serve as a significant economic catalyst for Harrison, which is easily accessed via the New Jersey Turnpike and located within a few miles of Newark Liberty International Airport, Interstate 280, the Garden State Parkway, US Routes 1 and 9 and Interstate 78.
About Advance Realty
Advance Realty is a privately owned real estate development, investment and management company headquartered in Bridgewater, N.J. Since its inception in 1979, Advance Realty has acquired or developed more than 10 million square feet of commercial, residential, R&D, industrial and mixed-use projects. Today, the company owns, manages and invests in a diversified portfolio of residential, mixed-use, retail, hotel, industrial and office in key urban and suburban markets along the Northeast Corridor. The company actively pursues real estate investments that provide opportunity to enhance value through development, repositioning and redevelopment. Advance’s strong capital base, fully integrated platform, outstanding talent and flexibility as a privately held organization position the company for continued growth. For more information, visit www.advancere.com.
About AC Hotels by Marriott
AC Hotels by Marriott is a lifestyle brand within the Marriott International global portfolio of 19 brands. AC Hotels currently offers a portfolio of more than 75 hotels throughout Spain, Italy, Portugal and France. The brand’s first U.S. hotel debuted in New Orleans in November 2014. Growth plans for the brand include the opening of its next North American locations in Kansas City’s stylish Westport neighborhood and in the heart of Miami Beach early this year and additional growth in Latin America and Europe. We expect more than 50 AC hotels to open within the next three years throughout the U.S. and Latin America.
