Bijou Properties and Intercontinental break ground on new 424-unit mixed-use project
HOBOKEN, NJ — Development partners Bijou Properties and Intercontinental Real Estate Corporation have broken ground on a new multi-faceted project which will consist of a 424-unit luxury rental building, a state-of-the-art 6,835 s/f public gymnasium, and a two-acre resiliency park in Hoboken.
Located at 700 Jackson St., the new 14-story mixed-use rental building has been designed by Marchetto Higgins Stieve Architects and will include luxury residences, 90,000 s/f of upscale amenities, including a penthouse pool and roof deck, and 25,000 s/f of ground floor retail space. The adjacent two-acre park will be split between a one-acre open grass area and children’s playground and a one-acre public plaza designed for active and passive recreation uses.
Construction is expected to be completed in mid-2019.
The project – which is rising near the 9th St. Hudson-Bergen Light Rail Station is part of the larger redevelopment of Hoboken‘s western edge into a vibrant and active pedestrian-friendly neighborhood. The new building follows in the footsteps of Vine, a 135-home luxury rental completed by the two prominent development companies at 900 Monroe St. in Fall, 2015.
“We’re invested in the future of Hoboken and are committed to working with the City to develop sustainable housing that significantly contributes to the community-at-large,” says Larry Bijou, Managing Partner of Hoboken-based Bijou Properties. “This new building and open space donation fits perfectly into that philosophy.”
Bijou Properties work has been cited by industry peers, most recently receiving Honorable Mention for the 2017 LOCUS Development Company of the Year
Award, which recognizes sustainable, smart-growth development activity.
Its dedication to Hoboken can be seen throughout the Hudson County City’s north end where the company has developed Garden St. Lofts, New Jersey’s first LEED Gold Residential high-rise building, Edge Lofts, a mid-rise LEED Platinum rental building; and Park + Garden, a 212-unit LEED Gold Certified rental community that includes a 32,000 s/f Elysian Charter School. The developer also created and sponsors Garden St. Mews, an open space located right outside Park + Garden that supports community gatherings and host the Hoboken Family Farmer’s Market, and has restored the former Hostess Factory on the corner of 14th St. and Park Avenue into a retail complex.
About Bijou Properties
Bijou Properties was founded in 2000 by Larry Bijou, a real estate professional with more than three decades of experience in the development and renovation of commercial and residential properties in New York and New Jersey. The company designs, develops & manages the highest quality sustainable buildings and has become a recognized leader in the field of green development along the Hudson Waterfront.
Real Estate Corporation
Intercontinental Real Estate Corporation is an SEC Registered Investment Adviser with decades long experience in real estate investment, finance, development, construction management and asset management.