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Bayonne site is ship shape.

Fidelco Bayonne Realty has been named as the developer for the first phase of the mixed-use redevelopment of the Marine Ocean Terminal at Bayonne, known as the "Peninsula at Bayonne Harbor," in Bayonne, N.J.

Harbor Station, as the first phase is known, consists of approximately 102 acres of land on the western edge of the property.

Portions of the property will be used for road connections and civic purposes such as schools, police, fire and other municipal facilities, as well as active and passive recreational spaces.

When all phases of redevelopment on the entire peninsula are completed, the former military and naval yards will include 6,700 new housing units, 1.5 million s/f of office space, 343,000 s/f of retail space, 397,000 s/f of hotel space and 465,000 s/f of cultural space built in several phases on the 296-acre mixed-use portion of the 430-acre peninsula.

Fidelco was named by the Bayonne Local Redevelopment Authority on March 24 to develop the Harbor Station section of the Peninsula.

"This development will be the gateway to the most significant redevelopment in the New York Harbor area since the construction of Battery Park City in the 1960's," said Marc E. Berson, a principal in Fidelco.

"Harbor Station will include a full range of uses, including housing, neighborhood and destination retail establishments, recreation and entertainment venues."

The redevelopment plan for the Peninsula at Bayonne Harbor notes that the entire development will result in a world class urban community within one of the most breathtaking marine contexts in the world.

The Harbor Station neighborhood, the plan indicates, will set the tone and character for the whole development.

"Our selection was the result of the hard work of the Public Private Cooperative Venture established by the redevelopment authority and nearly six years of effort by its commissioners to design an award-winning plan for the most significant undeveloped parcel of real estate in the New York metropolitan area," said Steve Kalafer, a principal in Fidelco.

In addition to these public purposes, the redevelopment plan for Harbor Station permits a vibrant mix of uses, including multi-family housing, one- and two-family townhouses, retail and personal services, grocery stores, restaurants and bars, commercial recreation, entertainment facilities, multimedia production facilities, hotels, financial institutions, offices, child care centers, plazas and parking facilities.

Harbor Station is expected to provide market rate and affordable housing opportunities.
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Title Annotation:Residential Marketing & Brokerage
Publication:Real Estate Weekly
Geographic Code:1USA
Date:Apr 13, 2005
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