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HOBOKEN, NJ-The locally based REMI Cos. is set to develop another residential condominium project in its own hometown, GlobeSt.com has learned. Construction is set to begin on Velocity, a two-building, 128-unit luxury complex in this Hudson River waterfront city’s west side. REMI is also launching the pre-sale effort for the complex.

The two buildings are slated for occupancy in the summer of 2005, according to Erik A. Kaiser, founder and principal of REMI Cos. The Velocity will consist of 28 one-bedroom units, 92 two-bedroom units and eight three-bedroom residences. Amenities will include an on-site fitness facility and a 25,000-sf courtyard between the two residential buildings.

REMI is no stranger to this city. Besides being based here, the company has developed a number of residential communities here. The cost of building the company’s latest project has not been disclosed.

Founded 10 years ago by Kaiser, REMI Cos. consists of several real estate investment, development and management companies. Under its umbrella are REMI Residential, REMI Commercial, REMI Capital, REMI Construction and NuTech Title. The company maintains an active presence in the New York metro area, as well as in Miami.

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