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 propertyâ€s prime location at the gateway entrance of Hoboken, one of the hottest markets in the state.”

Willow14â€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 buildingâ€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 propertyâ€s extensive amenities will generate an enormous draw, which is fostered by its location in a dynamic 24/7 community – one thatâ€s widely considered to be the most sought-after ‘live-work-play†environment in New Jersey. The locationâ€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.  Advanceâ€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.

The post Advance Realty’s Willow14 Hoboken Mixed-Use Development to Feature Luxury Residential, Retail and Parking Components first appeared on River View Observer.

JV will create 1,000 luxury multifamily residences and 20,000 square feet  of retail space in townâ€s Riverbend District

 Harrison, NJ, (Nov. 12, 2014) – Advance Realty and DeBartolo Development, LLC, have formed a joint venture partnership to develop six buildings on three blocks within the Riverbend District of Harrison, N.J. The large-scale mixed-use project will serve as the centerpiece in the continued revitalization of the Hudson County town.

The first block to be developed, located at the corner of Cape May Street and Frank E. Rodgers Boulevard, is slated for vertical construction to begin in early 2015. The building will feature 286 luxury multifamily residences, an onsite parking deck and extensive indoor and outdoor amenities. When completed, the project will include 1,000 apartments and 20,000 square feet of premium retail space on the three blocks.

Situated near the Harrison PATH station, which is currently undergoing a $256 million renovation, and the 25,000-seat Red Bull Arena (home to professional soccerâ€s New York Red Bulls), the joint ventureâ€s new buildings will play a vital role in Harrisonâ€s ongoing emergence as a top destination for renters who seek a premium “live-work-play” lifestyle in a modern urban setting.

“This joint venture between Advance and DeBartolo is ready to begin an exciting chapter of urban transformation,” said Edward Kobel, President and Chief Operating Officer of DeBartolo Development.  “The Riverbend of Harrison has the mix of mass transit infrastructure, location, commercial viability and civic support necessary for it to become New Jerseyâ€s next great redevelopment story.”

In order to move the project through the planning and approval process, the developers have worked closely with Harrisonâ€s municipality, including the offices of the late mayor, Raymond McDonough, and the current mayor, James Fife.

“The mayorâ€s office was instrumental in moving the project forward,” said Peter Cocoziello, President and Chief Executive Officer of Advance Realty. “We all recognize Harrisonâ€s incredible potential, and weâ€re delighted to team up with DeBartolo Development in order to bring new luxury apartments and businesses to this great American town.”

CBRE Executive Vice President Gil Medina facilitated the partnership between Advance Realty and DeBartolo Development.

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 office, retail, industrial, residential and mixed-use assets 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.  Advanceâ€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.

About DeBartolo Development

DeBartolo Development, LLC is an established private real estate investment and development company that operates on multiple platforms ranging from real estate investment and ground-up development to management solutions. The DeBartolo name has been an icon in the real estate industry for more than seven decades. Since the organizationâ€s beginnings in 1944 when entrepreneur Edward J. DeBartolo, Sr. pioneered the first shopping mall concept, the familyâ€s legacy has been synonymous with success. In 1996, DeBartolo Realty Corporation merged with Simon Property Group (NYSE: SPG), creating the largest public real estate company in North America with a total market capitalization of $7.5 billion. In 2003, DeBartolo Development was formed by five-time Super Bowl Champion owner of the San Francisco 49ers, Edward J. DeBartolo, Jr. and his brother, Edward M. Kobel, to continue the familyâ€s tradition of excellence in real estate. Today, led by Mr. Kobel and a dynamic management team, DeBartolo Development invests in real estate assets of all sizes and scopes, focusing on opportunistic acquisitions and market-driven, ground-up development of retail, multifamily, hospitality and mixed-use projects throughout the United States.  The DeBartolo team specializes in asset management, development, construction, investment, acquisitions/dispositions, leasing, property analysis, financing, and recapitalization strategies. Since 2003, the company has successfully invested in 155 assets with approximate value of $4.6 billion.  For more information about DeBartolo Development, please visit our Website atwww.debartolodevelopment.com.

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