Since then, Lincoln Harbor has grown into more than 1.8 million sf of commercial development with a roster of office tenants that includes names like UBS/PaineWebber, Qwest, Exodus Communications and Citicorp. It also features a variety of shops, restaurants, residential condos, a marina, waterfront esplanade, covered parking and the 348-key Sheraton Suites Hotel.
And Lincoln Harbor is about to get a lot bigger. Hartz has just gotten the necessary approvals for the development's final phase, highlighted by two high-rise office towers totaling 855,000 sf. Other components include a 135-room all-suite hotel and two smaller office buildings of 200,000 sf and 90,000 sf.
In terms of timeline, all that's certain right now is that construction will begin shortly on the 90,000-sf office building. Onset of construction is based on a 40,000-sf tenant commitment, although the new tenant has not been named.
Work on the two high-rise towers is apparently contingent on securing a major tenant. And as Hartz president/COO Emanuel Stern explains, "the new phase can be delivered within 12 months of lease-signing, because the buildings have been designed, engineered and approved. A project of this nature would normally take up to two years to complete."
Hartz is also timing the phase with the arrival, next summer, of the expanded Hudson-Bergen Light Rail system. Currently under construction, that expansion will bring the line northward from Jersey City, linking the Hartz project directly to the Hoboken PATH station, New Jersey Transit bus service and, by extension, to AMTRAK service out of Newark.
"The arrival of the Hudson-Bergen Light Rail makes the site even more attractive," Stern says. He points out that the site also has direct access to the Lincoln Tunnel and I-495, and New York Waterway ferry service.
Hartz recently named GVA Williams, through its offices in New York and New Jersey, as exclusive leasing agent for Lincoln Harbor. The firm's president, Michael T. Cohen, also suggests that "accessibility is very important" to marketing the property. "Lincoln Harbor is a fully integrated campus five minutes from downtown Hoboken and seven minutes from Midtown Manhattan by ferry."
Concludes Stern, "as has been the case for generations, Manhattan spurs growth on the waterfront, and we feel that our new buildings will complement the expected redevelopment of Lower Manhattan."
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