18 Park Luxury Rental Building Honored By New Jersey Future With 2015 “Smart Growth” Award

18 Park in Jersey City, NJ

KRE Group and Ironstate Development’s Iconic Jersey City Project Praised as a Landmark Multi-Use Building, Anchor of Emerging Community

Development partners Kushner Real Estate Group (KRE) and Ironstate Development Company have received a 2015 “Smart Growth” award for creating an iconic, mixed-use development in an emerging neighborhood in downtown Jersey City.

New Jersey Future, a non-profit organization that promotes responsible land-use policies, named KRE/Ironstate’s 18 Park building one of the recipients of its prestigious annual award, noting that it was designed to be the “community anchor” of an 80-acre redevelopment area in Jersey City’s Liberty Harbor North neighborhood.

18 Park is a 422-unit rental building with upscale amenities and services, but it is also home to a variety of community organizations. The Boys & Girls Clubs of Hudson County occupied brand new, state-of-the-art facilities at 18 Park in 2014 after relocating from a severely outdated building nearby. The Great Futures Charter High School for Health Sciences also calls 18 Park home, as does a teen technology center that includes music recording and graphic arts equipment. The building also includes street level retail that contributes to the vibrancy and pedestrian-friendly character of the neighborhood, making it feel like a true “center” of the community.

“The broad combination of community uses, plus the retail space, the 415 apartments above the community facilities and the seven townhomes along the south side of the building all work together to generate a wide range of activity at various hours of the day and evening, giving the building the true feel of a community center,” the award announcement from NJ Future reads. “As Liberty Harbor North continues to develop, 18 Park’s role as a community center will only continue to grow.”

18 Park was designed from the beginning of the project with the goal of both resident enjoyment and community engagement in mind. The Boys & Girls Clubs of Hudson County facilities are independently accessed and include a spectacular gymnasium with a floor-to-ceiling wall as part of the club’s programmed space. Parking is concealed on the interior of the building and a Hudson-Bergen Light Rail stop is right on the corner, allowing for a fully-engaged streetscape that encourages mass-transit usage and community interaction.

“We set out to create a dynamic, lifestyle-oriented property for our residents that would be not only a centerpiece of the Liberty Harbor North neighborhood, but also one of the most exciting rental offerings in all of Jersey City,” said Jonathan Kushner, President of The KRE Group. “Including usable community space for The Boys & Girls Clubs of Hudson County and other organizations was incredibly important to us too. The fact that we were able to accomplish both goals so seamlessly is a testament to our design team, our construction team and the Jersey City community as a whole.”

18 Park is one of seven Smart Growth Award recipients selected this year by New Jersey Future. Since 2002, the organization has honored more than 95 projects selected by an independent jury of professional developers, architects, planners and redevelopment experts.

KRE and Ironstate both have a history of successful development in Jersey City and currently have additional residential properties under construction in the city. The developers previously teamed up to develop and lease 225 Grand, just one block away from 18 Park. KRE is currently building Journal Squared, a collection of three residential towers in Jersey City’s historic Journal Square neighborhood that will ultimately comprise 1,838 rental residences and 36,000 square feet of retail space. Ironstate is constructing 70 Columbus, a 50-story tower with 543 luxury rental residences in downtown Jersey City, and URL® Harborside, a collection of three towers overlooking the Manhattan skyline that will ultimately deliver 2,358 residences to the city’s Harborside Financial Center neighborhood.

For more information on KRE, www.thekregroup.com. For more information on Ironstate, visit www.ironstate.net. For more information on New Jersey Future and the Smart Growth Awards, visit www.njfuture.org.

About Ironstate Development Company

Ironstate Development Company is one of the largest privately held real estate development companies in the Northeast. Based in Hoboken, New Jersey, Ironstate engages in the development and management of large-scale mixed-use projects and has a diverse portfolio of residential and hospitality assets. Additional information on Ironstate Development Company is available on the Company’s website at www.ironstate.net.


Ironstate Development Named Top NJ Developer

Ironstate Development Company tops The Real Deal’s list of top New Jersey developers.

BY C. J. Hughes

Hudson County, which includes urban areas like Jersey City, Hoboken and Weehawken, is radiating cool these days, with its hip restaurants, arts scene and proximity to New York City. That vibe, along with rents often around 50 percent of Manhattan’s and 20 percent cheaper than those in Brooklyn, is making it one of the hottest residential destinations in the tri-state area, its supporters say.

“It’s a terrific location for somebody who wants affordability,” said Jeffrey Kanne, the chief executive of National Real Estate Advisors, which has teamed with Kushner Real Estate Group to build Journal Squared,
a three-phase, 1,800-unit colossus in
Jersey City.

Using our own research and data from CoStar Group and BuzzBuzzHome,

The Real Deal ranked the top developers by number of units that hit the market in 2014 and 2015, as well as those that will come online by the end of 2017. When firms partnered on projects, TRD allocated the full number of units to each of them.

1. Ironstate Development Company

Claiming the top spot is a Hoboken-based firm with deep roots in the area, Ironstate Development Company, with 3,354 units. A huge chunk of that total is made up by URL (Urban Ready Living) Harborside, an amenity-laden rental complex in Jersey City with a total of about 2,300 units. Its first phase, which will open in mid-2016, will consist of 763 apartments in a massive 69-story tower.

Harborside, which is being developed in partnership with Mack-Cali Realty Corporation, will feature a gym and even an urban farm with beehives. Its lobby cafe, which is expected to be operated by New York chain Coffeed, will be open to the public and “become a social hub for the neighborhood,” said Michael Barry, an Ironstate executive.

The company is also the developer — with Panepinto Properties (see #10) — behind the luxury residences 50, 70 and 90 Columbus in Jersey City.


Staten Island’s Turning Point?

A view of URL Staten Island, a new residential and retail complex rising in the Stapleton neighborhood, from the Stapleton platform of the Staten Island Railway. URL overlooks Upper New York Bay. Credit Edwin J. Torres for The New York Times

A view of URL Staten Island, a new residential and retail complex rising in the Stapleton neighborhood, from the Stapleton platform of the Staten Island Railway. URL overlooks Upper New York Bay. Credit Edwin J. Torres for The New York Times

C.J. Hughes at The New York Times features Ironstate Development in a report about the revitalization of Staten Island. 

A wide bay may separate Staten Island from the rest of the city. But in terms of real estate, differences between the borough and other enclaves seem to be lifting like a morning fog.

New rentals and condominiums, some with perks like a pet spa or rooftop beehives, are rewriting the island’s skyline. Big-city cool is popping up in a place not always noted for it: Small-batch espresso will soon flow at a coffee shop; a jug band played kazoos at a recently opened brewery; and stores selling brand-name skinny-leg pants are on their way. And a fresh crop of renters and buyers, unable to afford pricier precincts and unfazed by stereotypes about how the place can seem insular, bland or run-down, are setting sail for the island.

 Rising on a desolate stretch of waterfront is URL Staten Island, short for “Urban Ready Life,” a $250 million mixed-use project with about 900 rental apartments in a series of buildings resembling factories, with bands of windows and flat roofs, the better to house bee hives.

The first phase, with 571 studios, one-bedrooms and two-bedrooms, will open this fall. Interiors will feature stone counters and bamboo floors, plus stacked washers and dryers. Studios will likely start around $1,600 a month, and two-bedrooms at $2,800, said David Barry, the president of Ironstate Development, the developer.

The site will contain 35,000 square feet of retail space, more than half of which is now leased. Among the future tenants are a pizzeria, a store dedicated to specialty olive oils and Lola Star, a Coney Island clothing shop that is soon to open a branch in that other rising outpost, the Rockaways. Coffeed, a chain that brewed its first cup in Long Island City, Queens, will also be there.

National chain stores, such as those that dot Staten Island’s strip malls, are not welcome at URL. “This place has its own special character,” Mr. Barry said. “The stores should reflect that.”

URL will also have a 5,000-square-foot plot planted with vegetables that can be purchased from an on-site farm stand. Or, for a fee, residents will be able to request that its kale, spinach, rainbow chard and mizuna be prepared by a chef who will do double duty as the head farmer, said Mr. Barry, who was sifting through résumés for the post as he spoke.

READ FULL ARTICLE AT THE NEW YORK TIMES


NY1 Online: 36 Acre Waterfront Community Near Completion

2015-03-16_14-12-20

NY1 VIDEOWhile a lot of attention is being put on development projects in St. George including the NY Wheel and Empire Outlets, another development project just down the shoreline is getting closer to completion. The project is transforming 36 acres on the former Stapleton Homeport into a sustainable waterfront community.  It will include 900 units of housing and 35,000 square feet of retail space. NY1’s Bree Driscollsits down with Dave Barry who is the President of Ironstate Development Company.

GO TO VIDEO


Ironstate expanding its development focus to Connecticut, Staten Island

2015-03-09_11-30-35Joshua Burd at NJ BIZ reports on the expansion of Ironstate Developmentinto Staten Island and Connecticut.

After decades spent building a vast multifamily portfolio around New Jersey’s Gold Coast and then New York City, Ironstate Development is adding a new location to its list of target markets: Stamford, Connecticut.

The well-respected Hoboken-based firm is preparing to start construction on a 672-unit, mixed-use project in that city, which sits about 40 miles from Manhattan and is connected by a busy Metro-North rail station. Working in a joint venture with The Rich Co., a local developer, Ironstate said it expects to begin site work next month and deliver the first phase of 194 units by around fall 2016.

FULL ARTICLE


The builders: The Barry brothers are changing skylines and perceptions

NJ BIZ LOGO

via Joshua Burd/NJ Biz

David and Michael Barry have been busy all over the state. - (PHOTO BY AARON HOUSTON)

David and Michael Barry have been busy all over the state. – (PHOTO BY AARON HOUSTON)

As developers go, David and Michael Barry are just about as prolific and active as anyone else in New Jersey. But that’s not because they simply finish a project and then move onto the next one.

Quite the contrary — the heads of Ironstate Development are as much about building neighborhoods as they are about building a single multifamily high-rise or chic urban hotel.

“Whether it’s Staten Island, whether it’s parts of Jersey City — or as we once did in Hoboken or New Brunswick — we pick a place and we really like to make multiple investments there,” David Barry said, “because we think that we have the skill and wherewithal to change the perception of that neighborhood.”

The Hoboken-based firm proved that once again in 2014, from opening the second piece of its mixed-use redevelopment in Harrison to breaking ground on a multiphase, three-tower project on the Jersey City waterfront. And its pipeline is as full as ever with projects in well-connected urban centers around the region — continuing the model that has helped Ironstate thrive for decades.

NJBIZ sat down with firm’s principals to discuss 2014, the industry and its plans going forward.

FULL ARTICLE


Jersey Sure! No longer is Newark’s shadow, Harrison embraces big-time development

NY Post site logoVia Adam Bonislawski/New York Post

According to Mayor James Fife, Harrison, NJ, once held the state record for the most liquor licenses issued in a square mile. Today Harrison seems to be gunning for the title in a new category — building permits.

There’s a construction boom underway in this town, tucked into a bend of the Passaic River across from Newark.

Roughly 8,000 new residential units are slated to come to market in Harrison over the next decade, Fife says — this in a city with a population of just under 14,000. Add to that the opening four years ago of Red Bull Arena here — a 25,000-capacity stadium that serves as the home of Major League Soccer’s New York Red Bulls — plus a planned $256 million modernization of the Harrison PATH station, and you have a town on the make.

And what else accounts for its soaring appeal? As the old real estate saw would have it, location, location, location.

Elaine Lau, with daughter Violet, moved with her husband, Jonathan Proman, to the new Harrison Station complex, which will ultimately have 2,250 residences. Photo: Jennifer Brown for the New York Post

Elaine Lau, with daughter Violet, moved with her husband, Jonathan Proman, to the new Harrison Station complex, which will ultimately have 2,250 residences. Photo: Jennifer Brown for the New York Post

“Location is first and foremost,” says Michael Barry, president of Ironstate Development, which, with The Pegasus Group, is currently constructing their multi-phase, mixed-use Harrison Station development next to the Harrison PATH station.

Thus far, the partners have completed a 275-unit rental building — with studios from $1,460, one-bedrooms from $1,820, two-bedrooms from $2,155 — and are currently putting up a 329-unit rental building scheduled to open next year. They also last month opened a 138-room Element by Westin hotel as part of the project. When completed, the Harrison Station complex will comprise seven buildings, 2,250 residences and 80,000 square feet of retail space.

“Harrison is located on the PATH train, and that gives you direct access to Jersey City, New York City and Newark,” Barry says. “So essentially from the [town’s] redevelopment area, you’re less than five minutes into Newark, about a 10- to 12-minute ride into Jersey City, and about a 20-minute ride into New York City.”

FULL ARTICLE


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