Roads and Utilities Underway at Advance Realty’s Riverbend District — One of New Jersey’s Largest Transit-Oriented Redevelopments in Harrison, N.J.
Phase I Infrastructure On Track to Completion by Opening of Red Bull Arena in Spring 2010
At a time when many developers are postponing progress at their developments, Advance Realty, a leading Northeast U.S. owner and developer of Class A office and mixed-use properties, has announced that construction is moving ahead at the Riverbend District, one of the largest brownfield mixed-use, redevelopment transit districts underway in New Jersey.
Phase I infrastructure work at the Riverbend District is already more than 50 percent complete. Carson & Roberts, a leading construction and engineering company, is responsible for all site horizontal infrastructure work at the project and is on track to completing the installation of underground utilities, sidewalks, roadways, street lights and traffic signals in time for the opening of Red Bull Arena in Spring 2010.
“Carson & Roberts will take the Riverbend District one step closer to completion with horizontal infrastructure work that supports the transformation of this previously derelict site into a vital mixed-use, urban district,” said Kevin Tartaglione, senior vice president and COO of Advance Realty Development. “Advance Realty is committed to delivering this transit-oriented development to the community of Harrison and is extremely pleased with the progress being made in the face of current economic conditions.”
Phase I of vertical construction at the Riverbend District is scheduled to begin in 2010 and will feature more than 800,000 square feet of retail space, including an anchor grocery and retailers, a 16-screen cinema and notable restaurants; a 175-room hotel and a 350-room, full service hotel with 25,000 square feet of conference space; a wellness center; corporate and boutique office space; and approximately 1,900 for sale and rental residential units.
“The redevelopment of this significant property into a vibrant, mixed-use destination is of critical importance to the Town of Harrison in meeting its goals of enhanced economic development and improved quality of life for all residents,” stated Harrison Mayor Raymond McDonough. “We are extremely pleased to have a developer as committed and experienced as Advance Realty leading the effort.”
As a transit-oriented community, the Riverbend District is within close proximity to multiple modes of mass transit, including N.J. Transit, Amtrak and a centrally located, onsite PATH station that will benefit from a $180 million renovation program to improve service, allowing easy access to Newark Penn Station. The district is also only 15 minutes by train to Manhattan, is highly accessible by all major roadways in Northern New Jersey, and is just minutes from Newark Liberty International Airport via rail service or car.
About Advance Realty
Celebrating its 30th anniversary in 2009 and headquartered in Bedminster, N.J., Advance Realty is an owner and developer of office, flex, industrial, retail and multifamily properties. With 4.5 million square feet of operating properties and a development portfolio consisting of 6 million square feet of commercial projects and 6,500 residential units, Advance is one of the leading real estate owners in the Northeast. For more information, contact Advance Realty at (908) 719-3000 or visit www.advancerealtygroup.com.
