Officials from Weehawken, XSS Hotels and Mack‑Cali’s Roseland Subsidiary Announce the Construction of Two Waterfront Marriott Hotels
11/13/2013 Category: Acquisitions
Weehawken, New Jersey—November 13, 2013—Weehawken Mayor Richard F. Turner joined officials from XSS Hotels and Mack-Cali Realty Corporation’s (NYSE: CLI) Roseland subsidiary today (Nov. 13th) to announce the construction of two waterfront hotels that will be built side-by-side in Weehawken’s Port Imperial master-planned community.
The hotels will be built on top of the Port Imperial parking garage, an 850-space parking garage with approximately 17,000 square feet of ground-level retail space located adjacent to the NY Waterway Port Imperial ferry terminal. Roseland completed construction of the garage this summer and subsequently entered into a contract to sell the commercial condominium air rights for the space above the garage to the hotel developer, a partnership of Portsmouth, NH-based XSS Hotels and Colwen Management.
Construction of both a 226-room Renaissance by Marriott and a 154-room Residence Inn by Marriott will commence simultaneously this spring. The Renaissance will be a full-service hotel with luxury guest rooms, a function space for up to 750 seated guests, a lounge and breakfast space, and a stunning 30,000-square-foot outdoor terrace on the sixth floor with spectacular views of the Hudson River and the Manhattan skyline. The Residence Inn will cater to “extended stay” guests, typically those spending an average of four or five nights. It will feature guest rooms with 400+ square feet of space and a fully-equipped, en-suite kitchen, as well as free hot breakfast served daily.
The hotels will be separate entities, each with its own entrance and lobby, but they will be connected on the sixth floor to give guests shared access to the outdoor terrace, function space, pool, fitness center, and a high-end restaurant. Both hotels will be managed by Colwen Management (www.colwenhotels.com).
“We expect both the Renaissance by Marriott and the Residence Inn by Marriott to be popular destinations for guests looking to enjoy the hotels’ beautiful waterfront location, proximity to Manhattan, superior amenities, and event facilities,” said Leo Xarras, Partner of XSS Hotels. “With its breathtaking views and easy access to several mass-transit options, the site we have chosen is ideal for the type of guest experience we envision. We look forward to the beginning of construction and to being a part of the Weehawken business community for years to come.”
The development of these two new Marriott hotels is expected to benefit Weehawken’s economy, bringing more visitors to the town’s waterfront and creating many employment opportunities for local residents. It is anticipated that the Renaissance will bring more than 80 full-time jobs to Weehawken. The Residence Inn is expected to generate more than 35 full-time jobs. The restaurant the two hotels will share will also create approximately 35 full-time jobs.
“The Weehawken waterfront is an outstanding location for these two new hotels,” said Mitchell E. Hersh, president and chief executive officer of Mack-Cali. “As the master developer of Port Imperial, the Mack-Cali/Roseland team has worked hard to bring the highest quality housing and retail available to this ever-growing section of the New Jersey Gold Coast. Both the Renaissance by Marriott and the Residence Inn by Marriott will complement these efforts, bringing more people, more jobs, and even more vitality to this one-of-a-kind community.”
The two new hotels are conveniently located right in the heart of Port Imperial, where an intermodal transportation system anchored by a commuter ferry with service to Manhattan and a Hudson-Bergen Light Rail station will allow hotel guests to freely explore destinations on both sides of the Hudson River without the need for a car. The 200-acre, $2 billion master-planned Port Imperial community stretches two miles along the Hudson River and comprises residential and retail, as well as a waterfront walkway and pocket parks that provide passive recreation.
Both the Renaissance by Marriott and the Residence Inn by Marriott are expected to open in the fall of 2015.
About XSS Hotels
XSS Hotels is a hotel development company combining the experience and leadership of Leo Xarras and Mark Stebbins. Together, the principals have more than 80 years of experience in the development of hospitality projects. XSS Hotels concentrates on developing dynamic, high quality lodging with strong brand recognition. The XSS Hotel portfolio falls within the full-service, boutique, upscale extended-stay, select service and upper midscale hotel segments licensed with Marriott International, Hilton Worldwide and Intercontinental Hotel Group or affiliated with Historic Hotels of America
About the Residence Inn by Marriott
Residence Inn by Marriott hotels are designed to provide extended stay travelers with everything they need to thrive on long stays. Residence Inn offers spacious suites with room to eat, work, and dream. As part of Marriott's effort to have the Residence Inn feel like a guest's "home away from home," guests enjoy complimentary hot breakfast, Wi-Fi, evening socials and grocery delivery service.
About Renaissance Hotels
Renaissance Hotels provide inspiration at every location. Each hotel offers its own personality, local flavor, distinctive style and charm. The Renaissance stimulates your appetite for discovery, while providing a unique lodging experience. Each Renaissance offers a Business Center, Fitness Center, pool, and restaurant on-site.
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.
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