{"id":1004094403,"date":"2014-04-10T07:14:08","date_gmt":"2014-04-10T15:14:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004094403"},"modified":"2022-12-08T21:51:37","modified_gmt":"2022-12-09T05:51:37","slug":"bijou-breaks-ground-on-83m-m-f-project-in-hoboken","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\/","title":{"rendered":"Bijou Breaks Ground on $83M M-F Project in Hoboken"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004094407\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\/900-monroe\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg\" data-orig-size=\"1650,2200\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"900 Monroe\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?w=768\" class=\"alignleft size-medium wp-image-1004094407\" alt=\"900 Monroe\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg\" width=\"224\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg 1650w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?resize=225,300 225w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?resize=768,1024 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?resize=1152,1536 1152w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?resize=1536,2048 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?resize=150,200 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?resize=300,400 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?resize=696,928 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?resize=1068,1424 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg?resize=315,420 315w\" sizes=\"auto, (max-width: 224px) 100vw, 224px\" \/><\/a><\/p>\n<p>Just across the Hudson River from Manhattan, the cry for more luxury multi-family accommodations in Hoboken, N.J., grows louder and Bijou Properties is responding with 900 Monroe. The real estate developer recently joined partner Intercontinental Real Estate Corp. to break ground on the 135-unit residential project in Hudson County, which will cost $83 million to bring to fruition.<\/p>\n<p>In addition to upscale residences, 900 Monroe will feature 13,500 square feet of retail space, a 135-car automated parking facility and stone\u2019s-throw access to an adjacent light rail station providing quick and easy transport to New York City, the main source of the call for more rentals.<\/p>\n<p>\u201cDemand for new apartments in Hoboken is being driven by its close proximity to New York City and attractive pricing compared to similar rental building in Manhattan,\u201d David Gaber, partner and CFO of Bijou Properties, told Commercial Property Executive. \u201cThere\u2019s strong demand in Hoboken and the City needs a supply of rental apartments to meet market needs. It\u2019s a desirable place to live with many sought-after neighborhood features, including mass transportation to New York City\u201d<\/p>\n<p>According to a report by Marcus &amp; Millichap Real Estate Investment Services, Northern New Jersey\u2019s renter base is on track to expand this year as \u201chigh rents in Manhattan encourage people to seek rentals throughout the six-county region.\u201d And despite the increase in supply of apartments on the horizon&#8211;Bijou <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/bit-to-break-ground-on-131m-development-in-hoboken\/\">is also in the midst of building the $131 million, 212-unit mixed-use Park Place in Hoboken<\/a>&#8211;new demand is expected to keep occupancy levels in check, allowing for the vacancy rate to remain below 4 percent.<\/p>\n<p>But it\u2019s not just location that is on Bijou\u2019s mind as it builds 900 Monroe; the company, as usual, is seeing green. \u201cThe philosophy of Bijou Properties is centered on neighborhood connectivity and an energy efficient mantra that is engrained in every project we participate in,\u201d Gaber said. \u201cWe believe this is the right way to build. Our buildings are designed as solutions to issues in urban environments and lessen the environmental impact on surrounding neighborhood and infrastructure.\u201d<\/p>\n<p>Marchetto Stieve Higgins Architects is behind the design of 900 Monroe, which is expected to qualify for LEED Gold certification. Tishman Construction is on board as the general contractor and is on schedule to complete the project in fall 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bijou Properties joined partner Intercontinental Real Estate Corp. to break ground on a 135-unit residential project in Hudson County, which will cost $83 million to bring to fruition. <\/p>\n","protected":false},"author":969,"featured_media":1004094407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,11,1600,21742,10],"tags":[],"class_list":["post-1004094403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-midatlantic","category-new-york","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bijou Breaks Ground on $83M M-F Project in Hoboken - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bijou Breaks Ground on $83M M-F Project in Hoboken\" \/>\n<meta property=\"og:description\" content=\"Bijou Properties joined partner Intercontinental Real Estate Corp. to break ground on a 135-unit residential project in Hudson County, which will cost $83 million to bring to fruition.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-04-10T15:14:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:51:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/900-Monroe.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1650\" \/>\n\t<meta property=\"og:image:height\" content=\"2200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Bijou Breaks Ground on $83M M-F Project in Hoboken\",\"datePublished\":\"2014-04-10T15:14:08+00:00\",\"dateModified\":\"2022-12-09T05:51:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\\\/\"},\"wordCount\":394,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/04\\\/900-Monroe.jpg\",\"articleSection\":[\"Development\",\"Mid-Atlantic\",\"New York\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bijou-breaks-ground-on-83m-m-f-project-in-hoboken\\\/\",\"name\":\"Bijou Breaks Ground on $83M M-F Project in Hoboken - 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