FORT LEE, NJ – Today, after a saga stretching across 40 years and nearly incredible twists and turns – including a thwarted Mafia-backed land-grab in 1974 – construction will at last begin on a rocky 8-acre parcel beside the George Washington Bridge.
SJP Properties and partners officially break ground at 11:30 a.m. on the first phase of redevelopment project called The Modern that will cost $500 million. SJP will start immediately on building the first of two 47-story glass rental towers. The towers will have 450 apartments each.
The overall development, now called The Modern (and previously known as The Centuria) a restaurant, snack kiosk, three-screen movie theater, museum, and a public park. The movie theater and museum are a nod to the site’s early history as the site where many silent films were made.
SJP Residential Properties president Allen F. Goldman and SJP’s CEO Steven J. Pozycki will be joined by partners James Demetrakis and Palisades Financial’s David McLain at a ceremony presided over by Ft. Lee Mayor David Sokolich.
The ground to be broken this morning has remained undeveloped for nearly four decades, despite numerous attempts and grand plans. Back in 1974, developers were so desperate to build on the site that they sent a Mafia representative to offer a bribe to then-mayor Burt Ross (He wore a wire, and later wrote a book about it called “The Bribe.”)
Later, the Helmsleys - Harry and Leona - acquired the property and pushed for years to build there, although the plan fell apart after Mrs. Helmsley was jailed for tax evasion in 1989. In 2005, another developer obtained the property – but lost control of it during the Wall Street, housing and credit crises over the next few years.
The Modern was designed to showcase the site’s unparalleled views of the bridge, river, and Manhattan by Howard Elkus, of Elkus Manfredi Architects. Construction should be complete by the end of 2014, according to SJP.
“We are creating an icon that will forge a strong identity for Fort Lee as a destination for luxury living,” says SJP’s Goldman. In addition, Goldman said the building will be equipped with cutting-edge green technology and energy-efficient systems.
The Modern will feature 70,000 square feet of indoor and outdoor resort-style amenities, including a spa, in each tower. An Internet lounge with WiFi and printers is planned for each tower.
The towers will have covered dog walking areas and pet spas, and indoor and outdoor children’s play areas, 24/7 concierge and doorman service as well as package and dry cleaning reception areas and refrigerated storage.
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