A total of 651 rental residences are set for the former Military Ocean Terminal at Bayonne, following Monday’s announcement of the closing on 14 acres at the site by a joint venture partnership.
The project will also feature 25,000 square feet of “lifestyle amenities,” and a location near to the planned MOTBY ferry terminal, with service to Manhattan.
MOTBY is currently undergoing redevelopment into a mixed-use area following its former use as a base for the U.S. Army and Navy.
JMF Properties and RD Management are also in the process of developing 240,000 square feet of retail space, for which Costco Wholesale has signed on as the anchor tenant. According to a statement from Joseph Forgione, founder and principal of JMF Properties, Costco will open in early 2019, ahead of schedule.