Advance Realty Marks Significant Construction Milestone at Willow14 With ‘Bottoming Out’ Ceremony
Event Honors All Who Contributed to Completion of Secant Foundation Wall at Hoboken Mixed-Use Development
Advance Realty recently marked a significant milestone at Willow14, the company’s first Hoboken, N.J. development. On Oct. 3, the leading Northeast U.S. owner and developer of mixed-use, multi-family, flex-space, retail and Class A office properties commemorated the completion of the project’s secant foundation wall with a “Bottoming Out” ceremony.
A spinoff of a typical “Topping Out” ceremony, the event celebrated the construction of 307 exterior secant pile foundation columns and 50 interior columns at the mixed-use luxury rental building, which is being built using a unique top-down construction technique. The practice, which is rarely used in the Northeastern U.S., is allowing building construction to take place while the below ground portion of the project continues to be excavated. The next phases, which will occur simultaneously, involve the excavation and construction of each parking garage floor on a floor-by-floor basis.
Everyone in attendance signed a steel column of the building, which will feature 140 apartments, 22,000 square feet of retail space, and a four-level underground parking garage with 376 spaces.
“This was our way to say ‘thank you’ to all of the contractors, engineers, architects and construction professionals who contributed to the completion of this important phase of Willow14’s development,” said Larry Hilaire, Vice President, Development of Advance Realty. “This is a project that we are all very proud of and we look forward to its completion.”
Advance intends to pursue Leadership in Energy and Environmental Design (LEED) certification for the development.
“Located in a busy part of northwest Hoboken, Willow14 is a very unique project that represented an exceptional challenge for us,” explained Michael J. Posillico, Posillico’s Executive Vice President of Strategic Business Development. “We appreciate the opportunity to work on this incredible project, which will bring increased vitality to the Hoboken community.”Advance anticipates that the building will be ready for occupancy by end of 2013. A seven-story design, Willow14 will be among the most luxurious places to live and work in the region. The building will feature high-end amenities, as well as state-of-the-art, energy efficiency technology in order to achieve LEED certification.
In addition to offering some of the most impressive apartments on the Hudson Gold Coast, the residential portion of the development will feature spectacular amenities, including on-site retail, a pool, terraces, vegetative green roofs and a spacious community center.
The building will also feature approximately four parking spaces per 1,000 square feet of retail space. In addition to providing users of the retail space with dedicated parking, Willow14 will make parking available to local residents and visitors.
The development of Willow14 will add to the vibrant, 24/7 atmosphere that permeates the historic streets of Hoboken, which are filled with quaint boutiques, art galleries, restaurants and bars. Hoboken is situated on the Hudson River waterfront, across from Manhattan, providing residents with the opportunity to indulge in the area’s incredible cultural and entertainment offerings. With the Manhattan ferry and PATH nearby, getting to and from New York City will be extremely convenient for residents and shoppers.
In 2011, Willow14 was selected by the Hudson County Planning Board as a recipient of a Smart Growth Award, which recognizes sites that preserve existing resources, repair damaged systems as well as sites that are walkable and promote public transportation.
About Advance Realty
Advance Realty, headquartered in Bedminster, New Jersey, is a privately held real estate development, investment and management company. Since its inception in 1979,
Advance Realty has acquired or developed more than seven million square feet of commercial, residential, mixed-use and industrial projects. Advance continues to be one of the most active and respected commercial real estate companies in the New Jersey and Washington, D.C. markets.
Advance Realty is well positioned for smart growth in its core markets. The company’s strong capital base, outstanding talent and flexibility as a privately held, fully integrated real estate company ensure continued success at the forefront of the commercial real estate industry. For additional information visit www.advancere.com.
Posillico is headquartered in Farmingdale, New York. Incorporated in 1946 as a small trucking contractor, the company has grown to become one of the top engineering contracting firms in New York. They employ as many as four hundred people and serve the entire Tri-State area.
Since 1946, Posillico has been one of the cornerstones in the civil construction industry. From first breaking ground on the Long Island Expressway HOV lane to their latest environmental remediation project in New York City. Posillico’s integrated services of civil, materials, environmental, drilling and consulting have allowed them to provide the seamless, cost-effective construction solutions to complex problems that clients demand today and will demand in the future.