Jones Lang LaSalle
Officials Name Manager for $1B Rehab
By Eric Peterson
HARRISON, NJ-Local officials have tapped the Little Falls, NJ-based MAST Construction Services as project manager for the redevelopment of 250 acres of one-time industrial land on the city’s Passaic River waterfront. The project is expected to cost upwards of $1 billion, and the 250 acres represent nearly one-third of the town’s 1.2 square miles. The site is directly across the river from downtown Newark.
"This is an extraordinarily ambitious project," says MAST president Ted Domuracki. "It will certainly transform the town of Harrison."
The centerpiece of the redevelopment will be a 25,000-seat stadium for the Red Bulls, the major league professional soccer franchise formerly known as the MetroStars. Other elements include a series of four- and five-story mixed-use buildings with ground floor retail and upper-floor offices and residential, an entertainment center, a movie production studio, a public waterfront walkway, structured parking and additional streetscape improvements.
Site work is under way, specifically for the soccer stadium. Officials estimate that it will take upwards of 15 years to complete all of the project’s various elements. Advance Realty Group of Bedminster, NJ is the project’s lead developer.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
Officials Name Manager for $1B Rehab
By Eric Peterson
HARRISON, NJ-Local officials have tapped the Little Falls, NJ-based MAST Construction Services as project manager for the redevelopment of 250 acres of one-time industrial land on the city’s Passaic River waterfront. The project is expected to cost upwards of $1 billion, and the 250 acres represent nearly one-third of the town’s 1.2 square miles. The site is directly across the river from downtown Newark.
"This is an extraordinarily ambitious project," says MAST president Ted Domuracki. "It will certainly transform the town of Harrison."
The centerpiece of the redevelopment will be a 25,000-seat stadium for the Red Bulls, the major league professional soccer franchise formerly known as the MetroStars. Other elements include a series of four- and five-story mixed-use buildings with ground floor retail and upper-floor offices and residential, an entertainment center, a movie production studio, a public waterfront walkway, structured parking and additional streetscape improvements.
Site work is under way, specifically for the soccer stadium. Officials estimate that it will take upwards of 15 years to complete all of the project’s various elements. Advance Realty Group of Bedminster, NJ is the project’s lead developer.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
posted by Jones Lang LaSalle NJ News Blog at 12:21 PM
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