The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, in a joint venture with CrownPoint Group, a privately held New Jersey-based real estate investment and development firm, have announced plans to invest in Harrison’s revitalization. The companies have unveiled plans to develop a 104-unit apartment complex totaling 122,000 square feet within the town’s waterfront redevelopment area on Bergen Street in Harrison, N.J.
Situated on nearly one and half acres in Harrison’s Riverbend section, the apartment complex will feature two, four-story buildings comprised of 52 units each. Units will range from studio apartments to two-bedroom models. The community building will feature amenities such as a fitness center, a rooftop deck available to all residents and a conference room.
“With recent, successful projects and the current redevelopment and expansion of the PATH Station, Harrison has made significant progress in enhancing its economic development and growth,” said Norman Feinstein, Vice Chairman of The Hampshire Companies. “After evaluating the positive activity within the waterfront and aligning ourselves with a joint venture partner that specializes in urban development, we felt that it was the right time to invest in the revitalization of Harrison by providing improved residential offerings to meet the needs of the town’s anticipated growth.”
Located within Harrison’s Waterfront Redevelopment Area, the property is located one quarter mile away from the PATH station offering direct access to New York City, as well NJ Transit, Amtrak and major area highways including I-280, I-95 and Route 21.
The Hampshire Companies and Crownpoint Group have partnered with <a href="http://www.feinbergdesign.com/index.asp" target="_blank">Feinberg & Associates P.C</a>, a multi-disciplinary architectural firm to construct the two residential buildings. Construction is slated to begin in the second quarter of 2014.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.
About CrownPoint Group, LLC
CrownPoint Group, LLC (CPG) is a privately held New Jersey-based real estate investment and development firm offering Investment, Project Development, Urban Redevelopment, Construction Management, and Consulting Services to investors and businesses in major US markets. CPG’s main focus is on the acquisition and repositioning of industrial real estate assets in East Coast markets as well as the redevelopment of urban renewal areas with a particular emphasis on multi-family apartments and mixed use projects in mass transit locations.
Jeff Milanaik of CPG has been engaged as a redeveloper in Harrison, NJ (Hudson County) since 2003.
R&J Public Relations