(Read more on the multifamily market.)

CLIFFSIDE PARK, NJ-Construction is just under way for Aurora Over the Hudson, a two-tower residential condo development here. The project is being done by Aurora Development, a joint venture of a trio of developers, Pinnacle Downtown of Chatham, Kohl Partners of Teaneck and the locally based Craftex Builders Inc.

Aurora Over the Hudson, located on the Palisades overlooking the Hudson River opposite Manhattan, carries a construction price tag of $150 million. Its 131 units will encompass two- and three-bedroom units in two, 11-story towers. The residences are slated for delivery by the developers in 2010.

And those units will carry an upscale price tag for prospective owners, in a range of $1 million to $2.5 million, reports Mary Boorman, Pinnacle Downtown’s SVP for development, sales and marketing. Formal plans had been unveiled in March after local approvals were cleared, and since then, “we sold more than 10% of the homes before there were even shovels in the ground,” she says.

Aurora Over the Hudson is being designed by the international firm YOO by Starck, the first project in New Jersey for that firm. The original conception for the project had been produced by Perkins Eastman.

The finished product will include an outdoor plaza, a fitness center and resident club, according to Boorman. Also part of the plan are a variety of technology features, including personal electronic concierge interface, in-home wireless Internet and interactive communication with building security.

The project will also incorporate elements of sustainable building, notably a partnership with Floorworks, a Canadian company that will donate a portion of its sales of the wood flooring in Aurora Over the Hudson to replant native trees in Central America.

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