uli: harrison -- north jersey's next hoboken?

Harrison: Northern New Jersey’s Next Hoboken?September 17, 2014

Harrison: Northern New Jersey’s Next Hoboken?September 17, 2014

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Harrison: Northern New Jersey’s Next Hoboken?1960

Harrison: Northern New Jersey’s Next Hoboken?c. 1995

Harrison: Northern New Jersey’s Next Hoboken?

Harrison: Northern New Jersey’s Next Hoboken?C. 2000

Harrison: Northern New Jersey’s Next Hoboken?Before

Harrison: Northern New Jersey’s Next Hoboken?The Project’s Historical Perspective

• Mid 1990s – redevelopment study and determination• 2000 – first redevelopment plan and redevelopers• Preliminary challenges to project are rejected• 9/11/01• Hotel and Millrose projects• 2005-2006 renewed redevelopment efforts near station

– Acquisitions of Guyon Pipe and commuter parking lots– Renewed challenges: takings filed in mid-2006– Construction commences during appeal

• Red Bull Stadium construction• Harrison v. DeRose, et als, decided 2/25/08

– Stay issued 3/2008– Settlement reached 9/2008

• Environmental arbitration concludes 2/2010• Valuation arbitration concludes 3/2011

• October, 2008 financial market turmoil• Other acquisitions, voluntary and via eminent domain• 2012 plan amendments

Harrison: Northern New Jersey’s Next Hoboken? Harrison Metrocentre

• 35 +/- acres• Former Pipe

manufacturing facility

• Across from Harrison PATH station

• Zoned Industrial


• Resolved by “Friendly Condemnation” for $15.8M• Development yield under Redevelopment Plan:

– 700 MFR units, 200,000 sf retail, 650,000 sf office– Parking structures for users and stadium

• Title cleansed by condemnation• Purchase included escrow for environmental remediation ($3.5M)

and cost cap environmental insurance• No litigation• Matter concluded within 6 months after deal made

Harrison: Northern New Jersey’s Next Hoboken?During (2012)

Harrison: Northern New Jersey’s Next Hoboken?Riverbend District – Aerial View 2006

Riverbend DistrictSite Demolition & Remediation

Riverbend District – Aerial View 2009

Riverbend District - 2013

Riverbend District – Site Plan

Riverbend District

Block D

Block E & F

Riverbend District – North of Guyon

Riverbend District Panasonic Technology Center

Harrison: Northern New Jersey’s Next Hoboken?During

Harrison: Northern New Jersey’s Next Hoboken?Harrison Commons


VIEW AT RIVERBEND & FRANK E. RODGERS BLVD. S.


VIEW AT CRUCIBLE DRIVE & FIFTH STREET


CLUB ROOM COURTYARD


ROOF TERRACECONCIERGE

Q&A?Thank you!

uli: harrison -- north jersey's next hoboken?

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