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WEEHAWKEN, NJ-Construction has started for Henley-on-Hudson, a 158-unit residential community on this city’s Hudson River waterfront. The project is being developed by a joint venture of the Miami-based Lennar Corp., through its urban division, and the Short Hills-based Roseland Property Co.

Henley-on-Hudson is within Port Imperial, a mixed-use community that stretches along two miles of waterfront facing Midtown Manhattan. Roseland is the master developer of Port Imperial. And as reported by GlobeSt.com, Lennar bought into Port Imperial as part of its acquisition, early in 2006, of a 50% share in almost 3,000 housing units in Roseland’s portfolio.

According to Larry Florin, president of Lennar Urban’s Northeast Division, the 158 units break down as 94 condos in four, six-story buildings, and 64 four-level townhomes. “It’s destined to become our flagship community,” Florin says.

Also on-site will be what Florin terms a “private club.” Called Henley House, it will include a fitness center, library and swimming pool, among other things. The cost of the project hasn’t been released.

Construction is under way on Henley-on-Hudson as work proceeds on the nearby Riverwalk, a 130,000-sf retail complex. Already signed on as tenants at Riverwalk are Starbuck’s, Ben & Jerry’s, Wachovia Bank and A&P Fresh, all slated to move in later this summer, as well as PF Chang’s and Arthur’s Landing, two restaurants that have already opened. Officials say they are in negotiations with a spa and a number of other upscale tenants.

Lennar also has another active residential project in the region—the company is building the Hudson Club in nearby West New York, NJ.

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