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The 734-bed development will bring a new Jewish community center, European arcade-style retail stores and expanded parking to intersection of Garner Street and Beaver Avenue.
During the period in which PointOne Holdings owned and operated the property, occupancy increased from 90 to 99% and average effective rents increased by 22%, from $747 to $912 per unit per month.
“The properties on Passaic Avenue were vacant eyesores for many years, and Russo has been transforming them into better ratables that will bring residents, shoppers and businesses to Kearny,” says Mayor Alberto Santos.
Among the stores targeted for shut down include two locations in Manhattan at 2008 Broadway on the Upper West Side and 635-641 6th Ave. in Chelsea. According to the two stores' respective website, both locations have already been permanently closed.
The London Centre is a campus for Fordham students and other universities to study abroad and immerse themselves in the culture of the city as well as the continent.