Tag Archives: ironstate development

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

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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


Staten Island: NYC’s farthest-flung borough gets ready for its close-up

via Adam Bonislawski/ New York Post

Today’s NY POST report on Staten Island real estate features Ironstate Development.

Everyone loves a water view, but, as the saying goes, God isn’t building any more beachfront property.

And so, as New York’s waterfront has emerged from its industrial past as a prime location for residential real estate, builders have steadily moved farther and farther afield in search of new spots for development.

Lately, they’ve made their way to Staten Island.

The city’s least populous borough, Staten Island has often been an afterthought in discussions of New York real estate. But with several hundred million dollars in commercial and residential development slated for the area, the island — and its Manhattan-facing north shore, in particular — is having a moment.

“It’s part of the larger story of outer borough waterfront development,” says David Barry, president of Ironstate Development, which is in the midst of converting The Homeport, a former US naval base in the north shore’s Stapleton neighborhood.

ENTER YOUR URL: Ironstate Development is transforming Stapleton’s erstwhile naval base into a mixed-use project (its courtyard above) called Urban Ready Living.

The mixed-use development, namedURL [Urban Ready Living], will feature 30,000 square feet of retail along with 900 rental apartments — studios from $1,600; one-bedrooms from $2,000; two-bedrooms from $2,700 — which will start leasing next summer. In addition, the city is investing $32 million for road improvements and a new waterfront esplanade at the site. Ironstate is also planning similar projects in Jersey City and Stamford, Conn.

“You’ve seen it in Brooklyn and Queens and Jersey City, and now Staten Island,” Barry says. “We’re in a period of time where waterfronts are turning over from industrial to residential, commercial and recreational — Staten Island is part of that progression.”

The Homeport development sits two railway stops south of the borough’s St. George neighborhood, home to the Staten Island Ferry terminal and the emerging epicenter of the island’s waterfront development.

FULL ARTICLE


A New Jersey: Jersey City Surge

DN Cover JPEGDavid Barry and Ironstate Development are featured in today’s New York Daily News report on Jersey City development. Check out mentions of  URL Harborside, 18 Park, and 225 Grand.

Read the full article HERE.


Groundbreaking held for 69-story all-inclusive waterfront development in Jersey City

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via Michaelangelo Conte/ NJ.com

A groundbreaking was held yesterday for a 69-story, 763-rental unit tower on Jersey City’s waterfront which has been described by a developer as “a neighborhood in a building.”

“It will be a vertical neighborhood,’’ said David Barry, president of Ironstate Development, which is undertaking the project with Mack-Cali Realty.

URL (Urban Ready Living) Harborside apartment building will be part of Mack-Cali’s Harborside Plaza and is the first of three planned high-rise apartments.

In the Atrium at Harborside 3, Mack-Cali President and CEO Mitchell E. Hersh spoke of the $291 million tower, saying, “We believe there is strong demand for a live-work-play environment that offers a true sense of community, all in an amenity-rich, transit-oriented location.’’

Barry noted the great draw of living on the Jersey City waterfront but noted not everyone can afford it. The tower will feature smaller, partially furnished apartments which “use space more efficiently.” But it will have common areas and amenities aimed at fostering a community feel and equating to more living space.

It will include a roof garden, common areas with free WiFi, a cafe in the lobby, a filtered water dispenser in the lobby to cut down on tenant bottled water costs, and other shared amenities.

The facility will “make it easy for a young urban resident to move in without a hassle,’’ Barry said. “I think these buildings (the project will eventually be comprised of three towers) capture the essence of Jersey City’s vibrant economy.’’

The cost of the rentals has not yet been determined, a spokesman said. The tower will be built adjacent to Harborside 5, which is on Hudson Street off Christopher Columbus Drive near Exchange Place. It is to be completed in 2016.

The developers received $33 million in tax credits from the state Economic Development Authority in October for the first tower.

Jersey City Mayor Steven Fulop spoke at yesterday’s event that was attended by more than 100 people and credited the administration of former Mayor Jerramiah T. Healy for handling the preliminary phases of the project. Fulop said the project speaks to the vibrancy of the city and thriving development seen in it.

“Not only will this be the tallest residential building in the state, the project also incorporates sustainability elements and develops a community-style concept through public spaces,’’ said Fulop. “We are pleased to be breaking ground on this exciting project today.’’

Star-Ledger staff writer Tom De Poto contributed to this report


Mack-Cali Realty Corporation/Ironstate Break Ground On New Urban Ready Living® Residential Tower On Jersey City Waterfront

URL Harborside Day aNew 69-Story Tower Will be the Tallest Residential Building in New Jersey

Edison, New Jersey — Mack-Cali Realty Corporation (NYSE: CLI) and its joint venture partner, Ironstate Development Company, broke ground Tuesday, January 14th, on a new type of residential tower: URL® Harborside. URL®, which stands for Urban Ready Living®, is a direct response to the needs and desires of those looking to live in apartments that use less energy, provide more innovative spaces, and offer public areas that foster community.

URL® Harborside 1, a uniquely-designed, 69-story, multi-family residential tower, will bring 763 contemporary rental residences to Mack-Cali’s Harborside and the Jersey City Waterfront. The $291 million development, the first phase of URL® Harborside which will ultimately feature three towers comprising 2,358 residences overlooking the Manhattan skyline, is expected to be completed in mid-2016. The ambitious project will create hundreds of jobs in Jersey City, including construction and other full-time employment opportunities.

Jersey City Mayor Steven Fulop was on hand to announce the groundbreaking of the development. “This project speaks to the vibrancy of Jersey City, where development and investment continue to thrive,” said Mayor Fulop. “Not only will this be the tallest residential building in the state, the project also incorporates sustainability elements and develops a community-style concept through public spaces. We are pleased to break ground on this exciting project today.”

The move to start construction on a project of this magnitude signifies the continued confidence developers, business and civic leaders place in Jersey City as flourishing residential, lifestyle, and employment destination. There are currently approximately 5,000 residential units under construction in Jersey City and another 12,000 have approvals – with work expected to commence on more than half of them this year. In 2014, there will be more than 11,000 units under construction in Jersey City, illustrating the demand of the Jersey City residential market.

From left to right – Jersey City Mayor Steven Fulop, Ironstate Development Company President David Barry, and Mack-Cali President and Chief Executive Officer Mitchell E. Hersh.

From left to right – Jersey City Mayor Steven Fulop, Ironstate Development Company President David Barry, and Mack-Cali President and Chief Executive Officer Mitchell E. Hersh.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “We believe there is strong demand for a live-work-play environment that offers a true sense of community – all in an amenity-rich, transit-oriented location. We chose to partner with Ironstate because of their vast experience and exceptional reputation in the development and management of high-rise residential real estate.”

The URL® concept was developed by Ironstate president, David Barry, to provide people with innovative housing that maximizes space, reduces energy consumption, is more environmentally sustainable, offers close and easy access to public transportation, and provides public areas that foster community. Designed by acclaimed Dutch architecture firm, Concrete, URL® Harborside will be a flagship property with a distinctive tower reflective of its waterfront landscape.

“We’re at a historic and interesting moment in the New York area,” said David Barry, president of Ironstate Development Company. “Everyone is drawn to live here, but the costs of housing can be prohibitive. To meet modern housing challenges, we need creative and thoughtful solutions. URL® provides a new paradigm for how people can live and work in the city – in a way that is more affordable, sustainable and community oriented.”

URL Harborside Skyline aURL® Harborside 1 will rise on a vacant parcel adjacent to Mack-Cali’s Harborside Plaza 5 and will become the tallest residential tower in New Jersey. Further, the project will provide a new east-west connection of Bay Street within Harborside and add public spaces and retail vibrancy to the neighborhood. The location provides unparalleled easy access to the Exchange Place PATH station, the Hudson-Bergen Light Rail, and nearby ferry service.

About Mack-Cali Realty Corporation

Mack-Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services for its class A real estate portfolio. Mack-Cali owns or has interests in 279 properties, consisting of 267 office and office/flex properties totaling approximately 31 million square feet and 12 multi-family rental properties containing over 3,600 residential units, all located in the Northeast. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of commercial and residential tenants.

Additional information on Mack-Cali Realty Corporation and the commercial real estate properties and multi-family residential communities available for lease can be found on the Company’s website at www.mack-cali.com.

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.

Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Disclosure Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Reports on Form 10-K, as may be supplemented or amended by the Company’s Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.


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