BAYONNE, NJ-A planned 60-unit housing project here by veteran developer John R. Cali has obtained $15 million in construction financing from the First Niagra Finance Group.
In its announcement, First Niagra said the project near Newark Bay by Cali Futures is planned for completion by September. Cali is a former CEO of Mack-Cali Real Estate, who continues to serve on the REIT's advisory board.
The project, called The Park at Bayonne, will rise at 1040-1046 Kennedy Boulevard. Local developer The L Group will be a partner with Cali, and Washington, D.C.-based Kettler Apartment Group will lease and manage the rentals.
The units will have one-to-three bedrooms, and the building will have a rooftop patio and garden and a fitness center. The Park at Bayonne will provide private shuttle service to public transportation hubs into New York City.
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