Lincoln Equities Land Use Division Broadens Portfolio

EAST RUTHERFORD, NJ—Locally-based Lincoln Equities Group LLC reports that its redevelopment and land use division expanded significantly in 2014.

Among some of its major projects this year included managing and negotiating approvals for mixed-use redevelopments such as Halletts Point in Queens, NY; Highland Cross in the Meadowlands, NJ and Forrestal Village in Princeton, NJ.

"We've broadened our portfolio to include some of the region's largest, most challenging redevelopment projects underway today," says Joel Bergstein, president of LEG. "While we continue to manage a range of office, retail and industrial projects, we've been responsive to the current marketplace in New York and New Jersey where there are ample redevelopment opportunities."

"We are actively seeking new partnerships with developers and investors for future redevelopment projects," Bergstein adds.

LEG conceived and managed a six-year approval process to redevelop the Halletts Point peninsula in Astoria. LEG took a seven-acre waterfront site zoned for manufacturing, integrated its design into the adjacent Astoria Houses public housing campus and added a new waterfront esplanade. The new 2,260 unit development, with 20% of units set aside for inclusionary affordable housing, will have five waterfront multi-family high-rise residential buildings, plus two new residential buildings on the Astoria Houses campus. This project, which will include a new school, supermarket and job training program for local residents, received unanimous Community Board approval, along with support from local, state and federal agencies. Anticipated groundbreaking for the project is the fall of 2015.

LEG also recently garnered approval of an amended redevelopment plan for a 1-million square-foot mixed use development on a 26-acre site in the Meadowlands, known as Highland Cross. The new development will include 500 apartments, a 150,000-square-foot supermarket-anchored retail center and two hotels.

The company has obtained final site plan and subdivision approvals for a 394-unit multi-family residential component in the 500,000-square-foot pedestrian-friendly mixed use development at Princeton Forrestal Village. The new residential structures, to be constructed on former under-utilized parking lots, will connect the existing office and retail buildings to the adjacent Windrows active adult community. Anticipated groundbreaking for the venture is late 2015.