Work Starts for Retail
And Residential MXD
A 140-foot water tower came crashing
down in Harrison recently, one of dozens
of former industrial structures slated to be
razed in the coming weeks. The 27-acre
riverfront site containing the various vacant structures is being cleared to make
way for Harrison Commons, a five-phase
MXD that will include a total of 3,000
residences and 90,000 sf of retail space
along the Passaic River.
The project is being done by a trio of
partners, including the Pegasus Group
and Applied Development, both based in
Hoboken. The third partner is the Beverly Hills, CA-based Canyon Johnson
Urban Fund, the private real estate fund
headed by Bobby Turner and former basketball star Earvin “Magic” Johnson.
“This is an example of a smart growth
initiative that is replacing underutilized
properties with a new use that, following
an extensive clean-up and remediation
process, will provide housing, much
needed retail and a pedestrian-friendly
downtown center,” says Pegasus principal
Richard Miller. “It will breathe new life
into the area.”
“This will be one of the most exciting
projects ever built in this area,” says Applied’s David Barry. “It will have statewide, if not national significance.”
The site is between the Harrison PATH
station and the Passaic River, and plans
call for a first phase of two four- and
seven-story buildings with 477 rental
apartments atop 35,000 sf of retail and a
five-story parking garage. Phase two will
have a four-story building with 250 residential units over 15,000 sf of retail and
the rest will come on-line in the three subsequent phases.
From the rubble…Harrison Commons
Plans call for a series of streetscapes,
waterfront parks and an improved street
network. As part of the development
2008 EDITORIAL ADVISORY BOARD
MICHAEL ALFIERI
M. Alfieri Co., Inc.
DAVID T.
HOUSTON, JR.
Colliers Houston
& Co.
JEFFREY J. SIEGEL
Murray Construction
Co., Inc.
PETER J.
COCOZIELLO
Advance Realty
Group
CHARLES
KLATSKIN
Lee & Klatskin
Associates
SEENA STEIN
Newmark Knight
Frank
TIMOTHY R.
COMERFORD
PSE&G
RICHARD D.
MARCHISIO
Grubb & Ellis
EMANUEL STERN
Hartz Mountain
Industries Inc.
STEVEN
DENHOLTZ
Denholtz Associates
GUALBERTO
MEDINA
Cushman &
Wakefield of NJ, Inc.
JOSEPH TAYLOR
Matrix Development
Group
JAMES J.
GARIBALDI
The Garibaldi
Group
PATRICK MURPHY
CB Richard Ellis
GRETCHEN S.
WILCOX
Q10 | G. S. Wilcox
& Co.
WILLIAM C.
HANSON
NAI James E.
Hanson, Inc.
JEFFREY M.
SCHOTZ
GVA Williams NJ
MARK YEAGER
Gale Real Estate
Services
MITCHELL E.
HERSH
Mack-Cali
Realty Corp.
JONATHAN B.
SCHULTZ
The Shultz Org./ TCN
Worldwide
TED ZANGARI
Sills, Cummis
Law Firm
