PRESS RELEASE
Contact: Gayle Jones
(201) 451-3444

BLRA Approves Development Plans for Harbor Station North
“Gateway to the Peninsula” to provide tax relief to City of Bayonne

Bayonne, NJ, March 20, 2006 — After years of planning and infrastructure improvements, the BLRA voted unanimously last week to clear the way for construction of Harbor Station North, a new residential neighborhood to be built on 12.32 acres in the northwest corner of The Peninsula at Bayonne Harbor.

The developer, Fidelco Bayonne Realty, reported that the project will provide tax relief to the City of Bayonne by generating $1.22 million in new net tax revenues.

After reviewing the plans the BLRA Board of Commissioners certified their “consistency” with the Peninsula’s overall Redevelopment Plan. Fidelco will now proceed to the City’s Planning Board for final site plan approval.

“This is another step in the right direction towards redeveloping the property in a manner consistent with the community’s vision,” said Howard Fitch, Chairman, Bayonne Local Redevelopment Authority. “The Harbor Station development will create job opportunities and expand the tax base for the City of Bayonne.”

Harbor Station North is bound by 45th Street to the north, 40th Street to the south and Route 440 to the east. The district will be within a short walking distance of the 45th Street Hudson Bergen Light Rail Station and will contain 447 dwelling units and 10,000 square feet of neighborhood space designated for cleaners, eateries, and other retail services for residents.

The plan calls for 371 multi-family units in five buildings, 24 single-family three-story units, and 52 stacked-town homes located in four-story buildings.
There will be 724 new parking spaces in single-level garages and 95 on-street spaces. The community is pedestrian friendly with open space and a mews street that will connect the neighborhood to the future Harbor Station South.

“We are looking forward to implementing our award-winning plan for the most exciting development on the Hudson waterfront in the past 50 years,” said Marc Berson, chairman of the Fidelco Group.

Fidelco is an owner and developer of office, residential, industrial and retail properties located primarily in New Jersey, New York, Florida and Ohio. Its property portfolio totals over nine million square feet.

Harbor Station North is the gateway to the Peninsula at Bayonne Harbor. It marks the beginning of one of the most significant redevelopment projects on the East Coast, and the most ambitious re-use of a former military base anywhere in the nation. Harbor Station North is the start of a visionary program to reintroduce the City of Bayonne to its eastern waterfront, which has been inaccessible since the 1940’s.

For more information about the Bayonne Local Redevelopment Authority, visit our new website at www.bayonnenj.org/blra.









 

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