Mack-Cali's Roseland Unveils RiverTrace at Port Imperial, a New Luxury Waterfront Rental Community in West New York
10/30/2013 Category: Leasing and Development
$120 Million Building Featuring 316 Upscale Rental Apartments Now Open on NJ Gold Coast
West New York, New Jersey—October 30, 2013—Principals of Mack-Cali Realty Corporation (NYSE: CLI) and its wholly owned subsidiary, Roseland, joined West New York, NJ Mayor Felix Roque and other municipal officials Friday (October 25, 2013) to celebrate the opening of RiverTrace at Port Imperial, a new 316-unit luxury rental community situated along this Gold Coast city’s Hudson River Waterfront facing Midtown Manhattan.
Developed by Roseland and financed by UBS, the $120 million building features a collection of well-appointed rental residences, an impressive suite of amenities and a coveted waterfront setting offering panoramic views of the Manhattan skyline. RiverTrace also includes Feng Shui elements and has been built in accordance with the U.S. Green Building Council’s (UGBC) standards for LEED® certification.
“The Mack-Cali/Roseland team is proud to announce the completion of RiverTrace,” said Mitchell E. Hersh, president and chief executive officer of Mack-Cali. “This is one of the most spectacular waterfront locations in the region, and we believe RiverTrace, with its high level of design, remarkable amenity offering, and innovative approach to environmental sensitivity, will allow residents to enjoy it to the fullest.”
Mayor Roque also praised RiverTrace, stating the new building and other luxury buildings on the Hudson River waterfront play a vital role in the post-industrial economy of West New York.
“To me this is fantastic because it means our town is growing,” Mayor Roque said. “As you all know, West New York and Union City used to be known as the embroidery capital of the world. And guess what, now we rely on beautiful buildings like this one to make sure we keep our taxes stable. So I welcome more construction because you are helping the taxpayers. You have my backing and the Town of West New York is looking up to you.”
The residences at RiverTrace boast well laid-out open floor plans. Upscale finishes and appointments include oversized windows, bamboo floors, granite countertops and stainless steel appliances in the kitchens, porcelain tile floors and marble vanities in the bathrooms, and individual climate control. Monthly rents range from $1,955 to $5,400 for studios, one-, two- and three-bedroom residences.
Residents will also enjoy a resort-like amenity offering including a dramatic two-story lobby with custom millwork, marble floors and a water feature; 24-hour concierge, club room, billiard room, package room, cold storage, state-of-the-art fitness center, yoga room, movie theater, children’s play room, and a golf simulator. An expansive, landscaped outdoor deck overlooking the Hudson River and Manhattan skyline features a pool and hot tub spa, cabanas, day beds, fireplace, barbecue grills, and a water feature.
Designed to achieve LEED® for New Construction Silver certification from the U.S. Green Building Council, RiverTrace comprises a number of important “Green” features, including an upgraded exterior wall thermal insulation system from Sustainable Solutions Corporation, ENERGY STAR® appliances, low-VOC paints, and materials with recycled content. Roseland also worked with internationally recognized Feng Shui expert Alex Stark, to holistically incorporate Feng Shui principles into the development of the building.
RiverTrace is the latest addition to Port Imperial, the $2 billion, 200-acre master-planned waterfront development that features upscale residences and retail, world-class views of the Manhattan skyline and an intermodal transportation system offering commuter Ferry service to Manhattan and Light Rail service along the Gold Coast.
For more information on RiverTrace, visit www.rivertracepi.com.
About Mack-Cali Realty Corporation
Mack-Cali Realty Corporation (NYSE: CLI) is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services for its class A real estate portfolio. Mack-Cali owns or has interests in 275 properties consisting of 266 office and office/flex properties totaling approximately 30.7 million square feet and nine multi-family rental properties containing over 3,300 residential units, all located in the Northeast. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of commercial and residential tenants.
Additional information on Mack-Cali Realty Corporation is available on the Company’s website at www.mack‑cali.com.
Roseland is a premier real estate development and management company with a highly-acclaimed reputation for creating exceptional mixed-use communities in some of the most desirable settings across the Northeast. The Company and its executive team have developed more than 40,000 high-end residential units since 1992, many of which are located in key urban centers near mass transportation hubs. Roseland's reputation for excellence and uncompromising quality has led to a number of designations as developer or co-developer for projects with national significance. Acquired by Mack-Cali Realty Corporation (NYSE: CLI), Roseland now benefits from Mack-Cali’s strong financial strength and stability, along with its unsurpassed expertise in the commercial office sector.
Additional information on Roseland is available on the Company’s website: www.roselandproperty.com.
Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Disclosure Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.