Tag Archives: Commercial

New Jersey’s Biggest, Boldest Mixed-Use Project: Riverton Redevelopment in Sayreville

Riverton, mixed-use redevelopment along two miles of the Raritan River in Sayreville, is one of New Jersey boldest projects. It’s also one of the biggest. The $2.5 billion project on 418 acres is the largest mixed-use development in NJ history and believed to be the largest mixed-use project in development in the U.S. right now, according to NJ.com.

Don’t blame locals if they adopt a “I’ll believe it when I see it” attitude to the dreams of creating “America’s Next Great Hometown.” Attempts to redevelop the area have been ongoing for more than a decade. The previous developer never began construction after attempts to clean-up the contaminated site.

The current plan calls for a marina, two hotels, 1 million square feet of retail space and 1 million square feet of office space, 10 restaurants, and 2,000 residential units of single-family homes and apartments. It is expected to be built in phases and take 10 years to complete once they start construction.

But it won’t be easy—to build or win over the public. The developer, North American Properties (NAP), and Sayreville Economic & Redevelopment Agency (SERA) have faced some pushback, including a poll sent to area residents at the end of 2018 that town officials say was from an outside organization trying to mislead the public about the project with questions that “appear created to incite fear and spread rumor.” And while NAP boasts access to highways and the number of people within 20 miles, some are concerned about the amount of traffic and congestion in the area. Part of the plan, however, is to create its own Riverton exit on the Garden State Parkway, according to a story from News12 New Jersey, which toured the site.

If all goes as the developers plan, Riverton residents won’t have to leave the area very often. They can work, live, dine out, and meet all of their entertainment and recreation needs right there.

Philly Set To Open Its “Yards”

As tourists head for Hudson Yards in New York City this summer, Philadelphia is ready to unveil the first part of what it hopes will eventually be a similar experience—the 14-acre, $3.5 billion West Philadelphia renovation dubbed Schuylkill Yards.

The first of the four projects that will make up Schuykill Yards will open in June. Drexel Square is a 1.3 acre park located across from the 30th Street Station. The space is part of approximately six acres of the project that has been reserved for public space. Drexel Square has been described as the lynchpin of the project and overall vision for the area.

“Some people think you put a big tall building here right outside the train station,” developer Brandywine Realty Trust’s chief executive Gerard H. Sweeney told the New York Times in 2018. “But you’ve got to create a platform for excellence, and the way you do that is you invest in public space. You create a place where people want to be.”

The City of Brotherly Love’s Yards won’t have the size and sparkle of Manhattan’s version, but developers hope to create its own Philadelphia-specific experience, something that doesn’t feel corporate or created but more like a neighborhood that came about organically.

The 14 acres of Schuykill Yards sit between 30th Street Station and Drexel University and the University of Pennsylvania and will take 15 to 20 years to finish development of the entire area. It is all part of an attempt to pull together Philadelphia’s Center City district with University City and all of the business, research, and residential development in the area to form a singular downtown, according to the philly.com.

After Drexel Square, the next phase of the project is the renovation of a former newspaper building that borders the eastern edge of Drexel Square. Architects plan to keep the 50s industrial structure as they give it a modern makeover, according to the philly.com article.

Finally this winter, developers are scheduled to break ground on two towers—a more than 770,000-square-foot office building and a mixed use building next door that will have 344 apartments plus 200,000-squre-feet of office space.

The end result will 6.9 million square feet of office, lab, residential, and green space, a coming together of the business, retail, academic, commuter, and residential worlds. And another city Yards, just 90 miles south.

The Next Great Hope, Again: Nassau Hub

While the debate continues on the loss of Amazon  headquarters from Long Island City—best or worst thing to happen to New York and who gets the blame or the credit?—out on Long Island, politicians are pushing the Nassau Hub as the next great, transformative project in the tri-state area. Of course, we’ve heard it all before about this 77-acre site surrounding Nassau Coliseum in Uniondale, where attempts to develop residential, commercial and industrial-use space around the arena have failed repeatedly for various reasons over the years.

But there is new cause for hope that things will truly move forward this time as Governor Andrew Cuomo recently added $40 million in state funds, earmarked for three pedestrian bridges and to help Northwell Health build a medical research center (the “innovation center”), that will include laboratory and educational space. That money is in addition to the $85 million already coming from the state for parking garages.

As the developers attempt to move things forward and local politicians promote the possibilities of Nassau Hub, the Coliseum has been hosting concerts and the NHL’s Islanders have returned to play a portion of this season and next season’s games as they wait for a new arena to be completed at Belmont Park. (The team had left the outdated venue for Brooklyn.) With the Islanders doing well this year and big names like Billy Joel and Elton John booking shows, more people have been brought back to the area.

Developers continue to face resistance from nearby residents, however, who recently voiced concerns about the $1.5 billion plan to build office, retail, restaurant, and entertainment space, along with the medical and biotech research center and 500 units of housing. They were given permission to draft a site plan but must enter a project labor agreement with local building trade councils, as well as providing quarterly updates to the legislature and holding regular public meetings.

Should things work out this time and move forward, Phase I of the project, which includes the construction of the two state-funded parking garages with 3,400 spaces, the Northwell Health Innovation Center and half of the housing and entertainment units, is contingent on county legislative approval. Pending that approval, it is expected to begin within 24 months with anticipated completion by 2022.