The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, in a joint venture with CrownPoint Group, a privately held New Jersey-based real estate investment and development firm, broke ground today on their 104-unit residential complex in the River Bend section of Harrison, NJ. Located at 221 Bergen Street the project will be driving factor in Harrison's continued renaissance. Harrison Mayor James A. Fife, Hampshire and CrownPoint executives, project investors including Jeffrey Sica of Circle Squared Alternative Investments, and Harrison Township officials were in attendance.
"This is an exciting time for the Town of Harrison, CrownPoint Group and The Hampshire Companies," said James E. Hanson II, President and CEO of The Hampshire Companies. "Today, we are expanding our reach into the multi-family development market as we embark upon developing Harrison's newest luxury residential community."
Situated on nearly one and a half acres the apartment complex will feature two 52-unit residential buildings as well as amenities including a fitness center, a rooftop deck and a conference room. Units will range from studio to two-bedroom apartments.
"Born of industrial roots, there is a modern community emerging right here in Harrison as the town's urban infrastructure is being transformed into vibrant neighborhoods," added Hanson. "The more than $250 million expansion and modernization of the PATH station and the addition of new retail and dining establishments are enticing people to take a closer look at Harrison. As a company deeply rooted in New Jersey, we could not be more excited to take part in the transformation of this area by building a residential community that captures the essence and excitement of all that the Town of Harrison has to offer."
The Hampshire Companies and Crownpoint Group have partnered with Feinberg & Associates P.C, a multi-disciplinary architectural firm to construct the two residential buildings.
The first phase of the project is slated to be completed by the first quarter of 2015. Interested tenants should contact CrownPoint Group at 973-998-9890.
"Having spent 15 years in Harrison, I know firsthand the dedication and hard work that has gone into the revitalization of what once was the Beehive of Industry," said Jeff Milanaik CrownPoint Group. "Today we begin a new project and take one more step in achieving our vision for the town of Harrison. It's exciting to play such an integral role in helping to build the future of this great town. Together with The Hampshire Companies I would like to thank Mayor Fife, Councilman Doran, members of the Council, and Harrison Redevelopment Authority for their support and would like to acknowledge late Mayor Ray McDonough for his commitment and service and for helping shape the rebirth of Harrison. "
Mayor Fife marked it a great day in Harrison citing increased development in the town and recalled his journey with the town as a member of the original development committee. Both Hanson and Milanaik stressed the importance of having great partners as a key to success and acknowledged the tremendous support from the town, their teams and investors and Jeffrey Sica for connecting the two companies and helping to bring their vision to life.
Located within Harrison's Waterfront Redevelopment Area, the property is located one quarter mile away from the PATH station offering direct access to New York City, as well as NJ Transit, Amtrak and major area highways including I-280, I-95 and route 21.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate investment 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.