Principals of Mack-Cali Realty Corporation and its subsidiary, Roseland, joined West New York, NJ Mayor Felix Roque to celebrate the opening of RiverTrace at Port Imperial, a new 316-unit luxury rental community situated along the Gold Coast city’s Hudson River Waterfront facing Midtown Manhattan.
Developed by Roseland and financed by UBS, the $120 million building features a collection rental residences, a 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.”
Monthly rents range from $1,955 to $5,400 for studios, one-, two- and three-bedrooms.
RiverTrace is the latest addition to Port Imperial, the $2 billion, 200-acre master-planned waterfront development that features residences and retail and an inter-modal transportation system offering commuter Ferry service to Manhattan and Light Rail service along the Gold Coast.