"This project is creating a true downtown, and already we're seeing incredible interest from major high-end restaurant chains and retailers," Stone says. "Projects like Centuria bridge an unfilled urban/suburban gap. The increasingly dense regional population is demanding sophisticated urban environments."
Centuria is being developed by a Woodcliff Lake, NJ-based affiliate of the New York City-based real estate investment firm, Whiteweld Barrister & Brown (WBB). As reported by GlobeSt.com, the project was unveiled in late 2005 for a 16-acre site that had been vacant for more than three decades and had, at one time, been owned by Leona Helmsley.
Originally unveiled with an estimated price tag of $750 million, Centuria's full site plan also includes 90,000 sf of office space, more than 800 luxury condos and a 242-key hotel. An official of WBB tells GlobeSt.com that the developer is in the final stages of negotiations with a major hotelier to operate that component of the project, and that "an announcement can be expected shortly."
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