An aerial view of the former Military Ocean Terminal at Bayonne — Courtesy: JMF Properties and RD Management LLC
By Joshua Burd
A joint venture has closed on 14 acres on the former Military Ocean Terminal at Bayonne, paving the way for the development of more than 650 new luxury apartments.
The developers — JMF Properties, RD Management LLC and Accurate Builders and Developers — say they are now planning a fall groundbreaking for the project on the southwest portion of the peninsula. When complete, they expect the complex to include 651 units in two five-story buildings along Goldsborough Drive, offering views of the Bayonne Golf Club on the edge of the New York Harbor.
Plans also call for an 820-space enclosed parking garage and 25,000 square feet of amenities, the developers said, including a rooftop resort-style swimming pool that overlooks the golf course. The site, meantime, is steps from a planned ferry terminal that will offer service to Manhattan
The closing marks an expansion in the city for JMF Properties and RD Management, which have other efforts underway on the 103-acre peninsula. The developers earlier this year broke ground on 240,000 square feet of retail space, with Costco Wholesale set to occupy some 60 percent of the space as the anchor and several other retail operators already under lease.
“Bayonne is a quickly emerging (New Jersey) Gold Coast destination, and we are thrilled to partner with the city in its vision for this incredible, untapped waterfront asset,” said Joseph Forgione, the founder and principal of JMF Properties. “We’ve delivered on our promise to bring meaningful retail to the property, with Costco slated to open ahead of schedule in early 2019 followed by a complement of exciting retail providers, and are now delighted to get started on a high-end residential offering that will bring an energy-infused, dynamic living experience to Bayonne.”
Known as MOTBY, the peninsula-like terminal is a former base for both the Army and the Navy that city officials and developers have long sought to repurpose, seeking to capture the demand that has fueled the rebirth of riverfront cities to the north. A host of mixed-use projects are now underway on the peninsula and elsewhere in the city.
Aside from the ferry terminal, developers have been attracted to the city’s stops along the Hudson-Bergen Light Rail, which connects to the PATH system in Jersey City and Hoboken. JMF and RD Management also touted a new walking path that will link the residential community, retail center and ferry terminal, plus a new pedestrian bridge being built over Route 440.
“This is yet another sign that MOTBY development is a reality and that our commitment to creating a brighter future for Bayonne is well underway,” Mayor James M. Davis said. “JMF Properties, Accurate Builders and Developers and RD Management all have a proven track record of delivering new ratables to municipalities and injecting new energy into important, underutilized properties, and we’re more confident than ever that they are the right partners for the city.”
With Costco set to anchor 150,000 square feet, the joint venture’s retail property will also include other stores and restaurants, as well as outdoor seating, according to a news release. Plans also call for waterfront walkways that offer views of New York Harbor and the Bayonne Golf Club.
“With Costco Wholesale as the anchor, and now 651 residential units coming online within walking distance of the retail center, Harbor View Marketplace is one step closer to becoming the living and shopping destination JMF Properties and RD Management have been working hard to create,” said Richard Birdoff, principal and president of RD Management. “Residents and visitors of Bayonne alike will soon be able to experience the start of this vibrant retail and residential development with the highly-anticipated opening of Costco.
“We’ll also continue to attract additional national and local retailers to the property who will benefit from the steady foot traffic future residents will bring to the neighboring businesses.”