The Real Deal New York

Fort Lee approves second half of $1B development

June 13, 2012 05:45PM

Tucker CEO Richard Tucker and a rendering of Hudson Lights

Tucker Development won approval for the second half of a planned $1 billion development in Fort Lee, on the Jersey side of the Hudson River underneath the George Washington Bridge. The Record reported that the Fort Lee Planning Board unanimously approved the plans for Hudson Lights, the western portion of the site that calls for 175,000 square feet of retail, 477 residential units and a 175-room hotel.

It gave approval to the eastern half, which is called The Center at Fort Lee and is highlighted by a pair of 47-story residential high-rise tower developed by Fort Lee Redevelopment Associates, in March.

The approval marks the end of decades of failed efforts to develop the 16-acre site, although Tucker still needs to secure a lender for the project. Tucker told GlobeSt.com that it is in talks with several lenders for the $400 million portion of the project.

With the approval construction could potentially begin on the project, the largest redevelopment effort ever in Fort Lee, by this summer. [Record] and [GlobeSt.com]

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