HARRISON, NJ-The first phase of the Harrison Station mixed-use development here was officially completed on Dec. 9, when US Sen. Robert Menendez (D-NJ), Hudson County Executive Thomas A. DeGise and Harrison Mayor Raymond J. McDonough joined developers Ironstate Development and the Pegasus Group for a ribbon-cutting ceremony.
The group inaugurated a 275-unit luxury rental building that also includes 12,814 square feet of street-level retail space. In time, the Ironstate/Pegasus development will consist of 2,600 residences, 80,000 square feet of retail space and a 136-room, LEED-certified Element hotel with a retail concourse. Construction will begin in early 2012 on the hotel.
“This project is an investment in Harrison’s future that creates hundreds of jobs and paves the way for thousands more,” Menendez said, according to a statement. “It’s a great example of smart growth and how good planning around public transportation can lead directly to economic development. This partnership is a model of how government, business and local communities can work together to usher in a new economic era for Harrison.”
More than 130 residences have already been leased, according to The Marketing Directors, Inc., the community’s exclusive marketing and leasing agent, while 5,500 square feet of retail has been leased to Five Guys Burgers & Fries and Pronto Gourmet.
The project is adjacent to the Harrison, NJ PATH Station, and across the street from the Heller Urban Renewal redevelopment of industrial space, a different project from the Ironstate/Pegasus development.
The new development will create approximately 2,000 construction jobs and 400 permanent commercial jobs, Ironstate says. “It’s been a long and exciting journey to get here, but our company has always believed in this town,” says David Barry, president of Ironstate Development. “The PATH, the wonderful neighborhood and the proximity to highways are just some of the core elements that made this an attractive development opportunity. It’s been a tremendous effort with cooperation from the town, the state and many other entities, and it is gratifying to see it come to fruition.”
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