Hoboken Office | 201-656-0115
Medford Office | 609-953-7555
Pennsylvania Office | 610-326-4900
The Township of Weehawken has utilized NW Financial Group (“NW”)to assist in negotiations for the development of hundreds of units along the waterfront in the Township. The negotiations in that led to an innovative public private partnership between the Township and Roseland Properties. The partnership allowed for the construction of 850 parking spaces that unlock the development of sites that are currently utilized for surface parking. The parking deck is designed to serve as the base of a 370 room luxury hotel. The New Jersey Economic Development Authority approved a $9 million Economic Redevelopment and Growth Grant and praised the project as a model for public private cooperation in economic development.
Following the closing of the parking transaction, the NW and the Township team negotiated a Redeveloper’s Agreement and Financial Agreement with Hartz Mountain that will generate a ground breaking for nearly six hundred rental units in January 2012.