In recognition of their successful partnership with New Jersey City University, The Hampshire Companies together with joint venture partner, Claremont Companies, and investment advisor, Circle Squared Alternative Investments, announce that they have been awarded the 2018 Excellence Award for Public/ Private Partnerships from the Urban Land Institute Northern New Jersey for RIVET, Jersey City’s newest luxury apartment development. Located at 23 University Boulevard in Jersey City, RIVET is a pivotal component to the resurgence of Jersey City’s west end neighborhood. The prestigious award recognizes the successful cooperation of public and private entities in developing exceptional projects that incorporate the needs of the local community to bring tangible, transformative economic, cultural and social value to the surrounding area and its residents.
The key component of the first phase of a mixed-use master plan to transform Jersey City’s emerging west end neighborhood into University Place, RIVET features 163 modern residential units and 10,000 square feet of service-oriented ground level retail. Developed by The Hampshire Companies and Claremont Companies, in conjunction with New Jersey City University, Jersey City, and several other real estate developers, University Place is a master redevelopment plan which will help create Jersey City’s next vibrant and walkable neighborhood through the construction of eight buildings, 1,000 new luxury residential units and access to more than 120,000 square feet of retail, a performing arts center, cafes, theaters, and lush green space.
“The Hampshire Companies and Claremont Companies are honored to be recognized for this prestigious award,” said James E. Hanson II, President and CEO of The Hampshire Companies. “RIVET truly reflects the power of private/public partnerships and the deep transformative effect they can bring to cities. We would like to thank NJCU President Dr. Susan Henderson, Mayor Fulop, Jersey City Councilmembers and specific government entities such as the Jersey City Redevelopment Agency for their support and hard work in ensuring that we could successfully deliver this project and begin to execute our vision for University Place.”
University Place’s transformative design and location only one-third of a mile from a Bergen Hudson Light Rail stop, provides access from the Hackensack River Waterfront to Hoboken as well as the opportunity to transfer to the PATH train for easy access to New York City. These components foster the ability for public and private project partners to work collaboratively to create the hyper-connected, vibrant urban destination in demand from today’s residents.
“Through RIVET we aimed to deliver a Jersey City waterfront luxury building experience at a much more affordable price point,” added Richard Sciaretta, Director for Claremont Companies. “The finished product clearly represents the fulfillment of this goal and we are proud to help deliver a building that will be in high demand for years to come.”
Jeffrey Sica, President, CEO, Chief Investment Officer of Circle Squared Alternative Investments added, “For me, this business is not solely about the investment side. My firm and I are highly vested in creating communities by improving neighborhood and the lives of the people living in and around our projects. I am very proud to be a part of this pioneering project on the West Side of Jersey City."
As the first piece in the transformation of the west end neighborhood, RIVET has been meticulously designed to reflect the latest advances in building design and technology and the demands of the modern tenant. RIVET’s integrated modern conveniences include technology enhanced amenities and social spaces such as a cybercafé with WiFi access, Butterfly MX virtual entry and package delivery system, a 15,000-square-foot courtyard with a sundeck, lounge seating, gaming areas, grilling stations, and movie screenings, an indoor lounge with courtyard connectivity, a dedicated pet washing space, and a light-filled fitness center with Fitness On Demand and yoga studio.
Each unit offers the best in modern urban living and design featuring spacious 9’6” ceilings, contemporary kitchens with Frigidaire stainless steel appliances, undermount sinks, quartz countertops, white cabinetry, designer pendant lighting over kitchen islands and subway tile backsplashes. Upscale bathrooms feature large format porcelain floor tile, cultured marble vanity countertops, chrome faucets with sprayers, medicine cabinets, and tubs and showers outfitted with subway tile and glass mosaic accents. In-home, front-loading Electrolux washers and dryers add convenience while Armstrong wood-look luxury vinyl flooring and lever-style door handles provide clean finishes. Additionally, the property boasts 24/7 on-site management and maintenance to ensure that tenants can expect the highest levels of customer service.
Demand for RIVET has been high with 42% of the building leased in just 3 months. For leasing information please contact Jason Hirkaler at 201-204-0500, rivetmgr@greystar.com or visit http://rivetapts.com. Property management services for RIVET are exclusively provided by Greystar.
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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.
Media Contact:
Dan Johnson
R&J Strategic Communications
908-895-0785
djohnson@randjsc.com