280 units to rise on Weehawken waterfront
Construction begins on luxury RiverParc at Port Imperial
by Art Schwartz
Reporter Correspondent
Jun 23, 2013 | 8068 views | 2 2 comments | 239 239 recommendations | email to a friend | print
SHOVELS UP
A HOME FOR EVERY BUDGET – RiverParc will consist of studio, one-, two- and three-bedroom rental units ranging in size from approximately 500 to 1,400 square feet.
A HOME FOR EVERY BUDGET – RiverParc will consist of studio, one-, two- and three-bedroom rental units ranging in size from approximately 500 to 1,400 square feet.
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The newest addition to the Weehawken waterfront is underway. Ground was broken Wednesday for RiverParc at Port Imperial, a 280-unit luxury residence just south of the Weehawken ferry terminal.

Scheduled for completion in the third quarter of 2014, RiverParc will consist of studio, one-, two- and three-bedroom rental units ranging in size from approximately 500 to 1,400 square feet. Budgeted at $100 million, the 10-story upscale development will include an outdoor terrace with hot tub and fire pit, a theater with oversized cinema screen and movie seating, a golf simulator, and an enclosed garage with 320 parking spaces.

“We’re always trying to provide something for the residents down here that ties into the residents of upper Weehawken,” said Mayor Richard Turner, referring to the state-of-the-art health facility planned for the RiverParc. “It’ll have a heated [indoor] swimming pool. It’ll be a club membership open to not only the residents of the building, which will have it as part of the rental agreements, but also to residents of Weehawken at a market rate.”

Turner was speaking at the groundbreaking ceremony on June 19. “We always try and tie this area with that area, it’s very important in Weehawken; we are one community and we work together as one community.”

Professional development

RiverParc will be the latest addition to the Port Imperial development that spans more than two and a half miles of waterfront facing Manhattan. It will sit on the property between RiversEdge at Port Imperial and the NJ Waterway ferry terminal, adjacent to the park housing The Hudson Riverfront 9/11 Memorial.

Present at the groundbreaking ceremony was Carl Goldberg, co-president of Roseland, the real estate developer and management company that is building RiverParc in a joint venture with The Prudential Insurance Company of America.

“We’ve been involved in the township of Weehawken since 1997,” said Goldberg, referring to the numerous properties along the waterfront that Roseland has developed over the years. “This latest building is one of a series of buildings that are part of the redevelopment of the Hudson River waterfront here in the township of Weehawken.”

Having developed more than 40,000 high-end residential units across the country since 1992, Roseland will oversee the leasing and management of RiverParc once construction is complete.
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“It’s hard to believe that 25-30 years ago this was all vacant.” – Mayor Richard Turner
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Closing the groundbreaking presentation was Mitchell E. Hersch, president and CEO of Roseland’s parent corporation, Mack-Cali Realty.

“RiverParc reflects [our] commitment to developing best-in-class, luxury multi-family communities in primarily transit-oriented locations,” said Hersch, calling the Hudson River waterfront “one of the finest residential waterfront communities in the country.”

Mack-Cali acquired Roseland in October of 2012 after working closely together on numerous projects over the years. RiverParc represents the first groundbreaking ceremony from the aligned companies.

“We’re rooted in the state of New Jersey as well as the communities along the waterfront and we will work with the township for the common good of the community,” Hersch said.

Construction boom

“It’s hard to believe that 25-30 years ago, this was all vacant,” Turner said of the area. “Abandoned railroads, shipyards, nothing was here. It started with Lincoln Harbor; now it’s spread up to Port Imperial. And 25 years later we have six buildings under construction simultaneously in Weehawken.”

“I can recall 50 years ago when I was a young child living in Fairlawn, New Jersey,” echoed Hersch, “and my father had a small boat here along one of the marinas right next door. We used to come down here all the time. As the mayor indicated, pretty much every property along the waterfront was an industrial facility. And to see over the course of those generations the real renaissance of this area, becoming part of the work/play/live environment of the metropolitan area is fascinating and a major accomplishment for this community.”

Mayor Turner added that once complete, the RiverParc at Port Imperial will bring $1.2 million in tax revenue into the community, which “goes a long way to making Weehawken continue to be one of the best communities in the state of New Jersey.”

Comments
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Patrick Cullen
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January 30, 2014
Good point, Jim. According to nj state comptroller Matthew Boxer, non of the Payments in Lieu of Taxes go to the school district and only 5% of the PILOT goes to the county.
JimChieco
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June 23, 2013
I wonder, is it truly a renaissance or is it the beginning of the end for Weehawken's Middle Class? This was always a small town where everyone knew everyone else. Now Like Hoboken you will have outsiders too the area coming in and pretty soon controlling the local government. Also at what cost to the people of the town is this new development? What type of tax incentives have been given at the cost to the current taxpayers who are for the most part already overburdened? What is the total cost and duration of the incentives and will they outweigh the cost in Traffic, Police and Firemen and too the local school system?