12B — March 16 - 29, 2018— Northern New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N orthern N ew J ersey
90,000 s/f resident clubhouse in Bayonne Castle Lanterra Properties holds ribbon cutting ceremony at Harbor Pointe Apartments
AYONNE, NJ — May- or James Davis, city officials and more than 300 residents and families joined Castle Lanterra Prop- erties (CLP) at a ribbon- cutting ceremony marking the official opening of the newly- renovated resident clubhouse at Harbor Pointe. The 544-unit luxury apartment community, situated on 7.4 acres along the waterfront, is the initial devel- opment and centerpiece of the 420-acre man-made Peninsula at Bayonne Harbor. CLP’s extensive remodel transformed the recreational B
facility into a multi-media, multi-purpose clubhouse de- signed to meet the needs of the community’s evolving resi- dent demographic. A two-story jungle gym is the focal point of the space, which also includes a full-service kitchen, children’s library, media room, gaming center and fitness center with separate yoga/spin studio. “The resident demographics at Harbor Pointe have evolved to include a larger proportion of young families attracted by Bayonne’s cost of living and its accessibility to world class employment,” said Elie
Rieder , founder and CEO of the privately held-real estate investment company, which purchased the property in 2015. “This project reflects an expansion of our core value-add investment strategy to include unique amenities aimed at en- hancing the quality of life for all residents.” Mayor Davis, who was joined by City of Bayonne council members Juan Perez, Gary La Pelusa, Sr., Salvatore Gullace and Thomas Cotter, applauded Rieder for his vision and ongo- ing commitment to the city’s future. “What you see here is Castle Lanterra’s investment into you as residents that live here and also into the City of Bayonne.” n BlinkFitness opens at Paramount Assets’ 600 Central Ave., East Orange EAST ORANGE, NJ — The opening of a new Blink Fitness location at 600 Central Ave. in East Orange signaled a notable step forward for a mixed-use redevelopment underway in the heart of the city’s up-and- coming Transit Village District. Paramount Assets purchased the 50,000 s/f property in 2016 with plans to adapt the asset from retail/office to retail/mul- tifamily use. “Great things are happening in the Central Avenue commer- cial district,” said Paramount Assets’ Richard Dunn , senior vice president. “Our firm has been involved in East Orange for many years, and we are watching with anticipation as this neighborhood experiences more and more redevelopment – much of it geared to introduce luxury rental apartments. This new inventory is attract- ing residents looking to take advantage of what is becoming a trendy, mass-transit-accessi- ble, walkable downtown.” East Orange Mayor Ted R. Green attended a formal Blink Fitness ribbon-cutting event at 600 Central Ave. “The open- ing of Blink Fitness along this stretch of one of our busiest commercial areas marks a key turning point in the progress of not just Central Avenue, but our Transit Village and our entire city,” he noted. “We are especially excited for proj- ects like these that creatively breathe new life into our classic and historic spaces. ” n
Shown from left: 1st Ward Council member Thomas Cotter; Council Member At-Large Juan Perez; Harbor Pointe sales manager Spring Funches; Mayor James Davis; Castle Lanterra CEO Elie Rieder; 3rd Ward Council Member Gary La Pelusa, Sr.; 2nd Ward Council Member Salvatore Gullace; Harbor Pointe sales associate Timeka Houston.
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