"A $255 million loan will finance the first construction phase of a massive $1 billion Hudson River development in Bergen County. S3 Capital said it originated the construction loan which will finance the initial phase of the mixed-use development at 615 River Road in Edgewater. The project aims to reshape Edgewater's waterfront with luxury housing, transit connections, and public amenities."
"The first phase includes a 25-story luxury rental building featuring 381 apartments. It will include ground-floor retail space and parking for more than 500 vehicles. The Maxal Group is developing the waterfront community, which will ultimately include approximately 1,200 residential units across the full buildout. The development will feature a transportation component that sets it apart from other projects in the area, officials said."
A $255 million construction loan from S3 Capital will fund the initial phase of a $1 billion mixed-use waterfront development at 615 River Road in Edgewater. The first phase will deliver a 25-story luxury rental building with 381 apartments, ground-floor retail, and parking for more than 500 vehicles. The Maxal Group plans approximately 1,200 residential units across the full buildout with a mix of market-rate and affordable housing and six levels of parking. The project will include a public ferry terminal to Manhattan’s West Side, NJ Transit bus access, a 2.5-acre waterfront park with 650 feet of river frontage, and connections to the Hudson River Waterfront Walkway. Architectural elements by FXCollaborative and interiors by CetraRuddy will emphasize resort-style finishes and a notched glass-and-corrugated facade evoking the Palisades.
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