Former Hackensack HQ of Bergen Record newspaper set for redevelopment

New York /
Apr.April 16, 2019 05:22 PM

Three developers have agreed to take on the redevelopment of the former home of the Bergen Record newspaper, according to Multi-Housing News. The Borg family, which has owned the nearly 20-acre site at 150 River Street in Hackensack since the 1940s, will see its Fourth Edition real estate development arm partner with local developers the Hampshire Companies and Russo Development to build a complex with 654 residential units and 18,000 square feet of retail space. NorthJersey.com, the Bergen Record’s online presence, noted that the Borg family had relocated its former newspaper business (it was sold to media giant Gannett in 2016) from the site in 2008. The property has sat vacant for more than a decade, but was integrated into Hackensack’s redevelopment plan in 2012. It also reportedly sits inside a designated Opportunity Zone. NJBIZ reportedthat the first stage of the development, slated to commence this summer, will deliver 272 apartments with luxury amenities. Russo and Hampshire have engaged in similar New Jersey redevelopment projects in recent years in Harrison, Kearny and Union, according to NJBIZ. The Real Deal reported earlier this month on Hampshire being approved to redevelop the 216,722-square-foot Lackawanna Plaza in Montclair. [Multi-Housing News]


Related Articles

arrow_forward_ios
Skylight Real Estate Partners founding partner Bennat Berger and 340 Old River Road in Edgewater (Google Maps, LinkedIn)
New firm pays $50M for Edgewater multifamily
New firm pays $50M for Edgewater multifamily
Jeff Bezos and the Jersey City office property (LoopNet, Getty)
Amazon scraps 400K sf Jersey City office deal
Amazon scraps 400K sf Jersey City office deal
Monmouth Real Estate's Mike Landy and Industrial Logistics Properties Trust's John Murray (ACRE, Industrial Logistics Properties Trust)
Plan C: Monmouth finds buyer after Zell, Sternlicht offers fall through
Plan C: Monmouth finds buyer after Zell, Sternlicht offers fall through
No vacancy: New Jersey warehouse space effectively sold out
No vacancy: New Jersey warehouse space effectively sold out
No vacancy: New Jersey warehouse space effectively sold out
Amazon eyeing 400K sf office in Jersey City
Amazon eyeing 400K sf office in Jersey City
Amazon eyeing 400K sf office in Jersey City
Fairstead makes $85M senior housing play in Newark
Fairstead makes $85M senior housing play in Newark
Fairstead makes $85M senior housing play in Newark
Terreno Realty CEO W. Blake Baird and an aerial of the property (Google Maps)
Terreno Realty pays $44M for NJ industrial site
Terreno Realty pays $44M for NJ industrial site
Pandemic forces mom-and-pop landlord to sell out
Pandemic forces mom-and-pop landlord to sell out
Pandemic forces mom-and-pop landlord to sell out
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...