Advance Realty Announces Completion of Below-Grade Parking Garage and Start of Vertical Construction at Willow14 in Hoboken, NJ
HOBOKEN, N.J. (April 13, 2015) — Advance Realty — a leading Northeast U.S. owner, developer and manager of Class A multifamily, mixed-use, retail, office and flex-space properties — today announced that it has begun the vertical construction of Willow14, its seven-story, mixed-use development project in Hoboken, New Jersey.
Located at the corner of 14th Street and Willow Avenue, the building will feature 140 luxury apartments, 20,000 square feet of retail space and a four-story, below-grade parking garage.
“Demand continues to surge in the New Jersey residential market for luxury apartments that provide a complete array of high-end amenities and, at the same time, offer a premier location and convenient access to key transportation hubs,” said Michael Sommer, Managing Director at Advance Realty. “While Willow14 was designed with a strong focus on its state-of-the-art apartment features and spectacular amenities, residents will also benefit from the property’s prime location at the gateway entrance of Hoboken, one of the hottest markets in the state.”
Willow14’s residential component will include an expansive mix of studio, one-, two-, and three-bedroom residences. The building will boast desirable, lifestyle-oriented amenities and services for its residents, including an outdoor pool and landscaped pool deck; a state-of-the-art fitness center; common outdoor terrace areas with barbecues; residents’ lounge with WiFi, flat-screen TVs, a kitchen and seating areas; a game room and business center; a package room for deliveries; a cold storage area; bicycle racks and an on-site parking garage.
In addition, the property will include a community vegetable garden and wine storage. The property has also been designed to meet the standards for LEED certification, which Advance Realty will actively pursue upon the building’s completion.
Anticipated delivery is slated for the first quarter of 2016. Willow14 is located approximately one mile from the Lincoln Tunnel entrance and Route 495, which provides access to the New Jersey Turnpike as well as Routes 3 and 1-9. A number of public transportation options are also available in the area including the Hudson-Bergen Light Rail, Hoboken Ferry, PATH trains and N.J. Transit lines. A free shuttle service from Willow14 to the PATH will enable residents to take advantage of this easy commuting option during both the morning and afternoon rushes.
Advance Realty has retained The Marketing Directors, led by Jackie Urgo, as the exclusive marketing and residential leasing agent for the property.
“Willow14 offers its prospective residents a one-of-a-kind living experience,” Urgo said. “The property’s extensive amenities will generate an enormous draw, which is fostered by its location in a dynamic 24/7 community – one that’s widely considered to be the most sought-after ‘live-work-play’ environment in New Jersey. The location’s immediate access to New York City is enormously appealing.”
About Advance Realty
Advance Realty is a privately owned real estate development, investment and management company headquartered in Bridgewater, N.J. Since its inception in 1979, Advance Realty has acquired or developed more than 10 million square feet of commercial, residential, R&D, industrial and mixed-use projects. Today, the company owns, manages and invests in a diversified portfolio of residential, mixed-use, retail, industrial and office in key urban and suburban markets along the Northeast Corridor. The company actively pursues real estate investments that provide opportunity to enhance value through development, repositioning, and redevelopment. Advance’s strong capital base, fully integrated platform, outstanding talent and flexibility as a privately held organization position the company for continued growth. For more information, visit www.advancere.com.