Photo Caption (from left to right): 1st Ward Council member Thomas Cotter; Council Member At-Large Juan M. Perez; Harbor Pointe Sales Manager Spring Funches; Mayor James Davis; Castle Lanterra CEO Elie Rieder; 3rd Ward Council Member Gary La Pelusa, Sr.; 2nd Ward Council Member Salvatore Gullace; Harbor Pointe Sales Associate Timeka Houston
Project Reflects Castle Lanterra Properties’ Long-Term Investment in City’s Resurgence
CLP’s extensive remodel transformed the recreational facility into a multi-media, multi-purpose clubhouse designed to meet the needs of the community’s evolving resident demographic. A two-story jungle gym is the focal point of the space, which also includes a full-service kitchen, children’s library, media room, gaming center and fitness center with separate yoga/spin studio.
Mayor Davis, who was joined by City of Bayonne council members Juan M. Perez, Gary La Pelusa, Sr., Salvatore Gullace and Thomas Cotter, applauded Rieder for his vision and ongoing commitment to the city’s future. “What you see here is Castle Lanterra’s investment into you as residents that live here and also into the City of Bayonne.”
Davis also spoke about the signs of economic progress visible throughout the city, particularly on the former Military Ocean Terminal peninsula. “During the last three years we’ve seen tens of millions of dollars invested into the City of Bayonne, and over the next 15 years there will be significant growth on this peninsula,” he said, citing the opening of a Costco and stand-alone Starbucks slated for the fall, as well as several mixed-use development projects that will add 700+ residential units to the peninsula. The mayor also noted that city officials were in final negotiations to establish ferry service into Manhattan, which he called “a game-changer for the city.”
Formed in 2009, Castle Lanterra Properties is focused on the acquisition and management of quality income- producing multifamily properties within strategic growth markets throughout the United States. CLP and its affiliates currently own and manage 20 multifamily communities comprised of 9,500 units and a value in excess of $2.0 billion.
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