A historical perspective of the Harrison, New Jersey Waterfront Redevelopment Area, including aerials, photographs and renderings of the area before the project, during construction, at the present time, and what it will look like in the future.
12. Harrison: Northern New Jersey’s Next Hoboken?
The Project’s Historical Perspective
• Mid 1990s – redevelopment study and determination
• 2000 – first redevelopment plan and redevelopers
• Preliminary challenges to project are rejected
• 9/11/01
• Hotel and Millrose projects
• 2005-2006 renewed redevelopment efforts near station
– Acquisitions of Guyon Pipe and commuter parking lots
– Renewed challenges: takings filed in mid-2006
– Construction commences during appeal
• Red Bull Stadium construction
• Harrison v. DeRose, et als, decided 2/25/08
– Stay issued 3/2008
– Settlement reached 9/2008
• Environmental arbitration concludes 2/2010
• Valuation arbitration concludes 3/2011
• October, 2008 financial market turmoil
• Other acquisitions, voluntary and via eminent domain
• 2012 plan amendments
13. Harrison: Northern New Jersey’s Next Hoboken?
Harrison Metrocentre
• 35 +/- acres
• Former Pipe
manufacturing
facility
• Across from
Harrison PATH
station
• Zoned Industrial
15. Harrison: Northern New Jersey’s Next Hoboken?
Harrison Metrocentre
• Resolved by “Friendly Condemnation” for $15.8M
• Development yield under Redevelopment Plan:
– 700 MFR units, 200,000 sf retail, 650,000 sf office
– Parking structures for users and stadium
• Title cleansed by condemnation
• Purchase included escrow for environmental remediation ($3.5M)
and cost cap environmental insurance
• No litigation
• Matter concluded within 6 months after deal made