Modera Fort Lee will rise at 55 Main St., about a quarter-mile from the George Washington Bridge in Fort Lee, with 253 luxury apartments across 19 stories. — Rendering by MHS Architecture/Courtesy: Mill Creek Residential
By Joshua Burd
Mill Creek Residential has broken ground on a 253-unit luxury rental tower in Fort Lee, having secured joint venture equity as part of a deal arranged by JLL.
The developer, which is partnering with Kayne Anderson Real Estate, said the project at 55 Main St. will rise just south of the George Washington Bridge and provide unobstructed views of the Hudson River and the New York City skyline. Floorplans will range from studios to three-bedroom units, averaging 972 square feet, with move-ins slated for November 2026 and a second phase to be developed at a later date.
Plans for the 19-story tower, designed by MHS Architecture, also call for amenities such as work pods, social gathering areas, a high-end fitness center with a yoga studio, a resort-style pool and courtyard on the sixth floor and an indoor-outdoor rooftop sky lounge.
“With its proximity to New York City and the surrounding employment markets, Fort Lee continues to become a sought-after living destination,” said Maria Masi, senior managing director of development in New Jersey for Mill Creek Residential. “We believe Modera Fort Lee will distinguish itself by providing outstanding amenity spaces and premium interior finishes that enhance the overall living experience for our residents. We look forward to providing a top-of-market experience and will aim to become the preferred choice for the market’s discerning renters.”
JLL Senior Managing Director Jose Cruz and Director Ryan Robertson led the capital markets equity advisory team on Mill Creek’s behalf. Terms were not disclosed.
“This development opportunity in Fort Lee’s high-barrier-to-entry market is poised to attract a variety of renters,” Cruz said. “Modera Fort Lee will offer luxury living with spectacular views and convenient access to New York City.”
In a news release, JLL noted that future residents will have easy access to Manhattan via the bridge or ferry service. They’ll also be within walking distance of downtown Fort Lee’s shops and restaurants, reflecting amenities that have helped the Bergen County waterfront submarket rebound strongly from the COVID-19 crisis.
Mill Creek, meantime, cited the parcel’s proximity to interstates 95 and 80, adding that it is 20 minutes from both Yankee Stadium and MetLife Stadium.
“Mill Creek’s track record developing Class A multifamily communities, their ability to self-perform on construction and the northern New Jersey market economic growth fundamentals, made this capitalization incredibly compelling to the capital markets community,” Robertson added. “It was a pleasure working with Mill Creek and we look forward to the success of this project.”
