Canoe Brook Secures $150M Construction Loan for Luxury Development in West New York, NJ

Canoe Brook Development has secured substantial funding of $150 million for RB3, an elegant 426-unit community located in the vibrant city of West New York, New Jersey. The esteemed Northwestern Mutual Life Insurance Co. has provided a five-year, fixed-rate loan to support this exceptional project. Facilitating the transaction is none other than JLL Capital Markets, ensuring a seamless process for all parties involved. RB3 represents a significant addition to the prestigious Port Imperial, a master-planned community sprawled across 200 acres. As part of the remarkable $3 billion mixed-use destination orchestrated by Roseland Residential Trust, a subsidiary of Mack-Cali Realty Corp., RB3 promises unparalleled luxury and sophistication.

Anticipated to reach completion in late 2026, RB3 will stand tall at 11 stories, offering an array of studio, one- and two-bedroom floor plans. Residents will revel in a host of remarkable amenities, including a refreshing swimming pool, a state-of-the-art fitness center, a stylish club room, private work offices and coworking spaces for maximum productivity, a captivating sky lounge, a cutting-edge virtual reality room, and a stimulating golf simulator. Outdoor enthusiasts will delight in the grilling areas, while families will appreciate a specially designed children's playroom. Inside the units, residents will enjoy the convenience of washers and dryers, modern stainless-steel appliances, and spacious balconies, the perfect spot to unwind and soak in the panoramic views.

Embrace Waterfront Living at RB3, a Vibrant Community in New Jersey

Nestled on the west side of the Hudson River, RB3 is an exciting development that invites you to experience the best of both worlds. A stone's throw away from the dazzling midtown Manhattan, this community boasts a prime location that promises convenience and accessibility. With the NY Waterway ferry and the Hudson-Bergen Light Rail Station within walking distance, transportation options are plentiful.

RB3 offers more than just easy commuting. Nature enthusiasts and fitness enthusiasts alike will be thrilled to discover the 18-mile waterfront walkway, stretching from Fort Lee to Jersey City. This scenic pathway invites you to indulge in long leisurely strolls and immerse yourself in the breathtaking beauty of the river.

Discover the perfect blend of urban energy and natural splendor at RB3. Whether you're seeking a serene retreat or a bustling urban adventure, this community is poised to fulfill your every desire. Unlock the potential of waterfront living and embrace a vibrant, energetic lifestyle at RB3.

Creating a Legacy: Port Imperial Sets a New Standard in New Jersey's Development History

Port Imperial, upon its completion, is set to become an extraordinary milestone in the state of New Jersey. This ambitious project is unlike anything seen before, with a grand vision that encompasses over 7,500 premium apartments and townhomes available for both rental and purchase. Alongside these residences, a sprawling 150,000 square feet of retail space, two luxurious hotels, and two convenient public garages have been carefully integrated within the development. As if that wasn't enough, over 20 acres of inspiring public spaces will enhance the community's livability.

Having worked diligently for nearly three decades, Port Imperial's journey began in 1995 with a bold $20 million investment led by the Crossland Savings Bank and Chemical Bank. Acquiring 100 acres of sought-after land along the picturesque Hudson River, Roseland, the driving force behind this exceptional endeavor, set their sights on transforming the area. Two years later, a transformative opportunity arose as they acquired a 50 percent partnership interest in 100 adjacent acres in Weehawken, seamlessly integrating it into their master plan, which spans two miles along the remarkable Hudson River waterfront.

Rising from the Ashes: A Land Reborn

A once barren industrial wasteland is being transformed into a thriving development, thanks to the joint investments of Farallon, Prudential (PGIM), and Roseland. This remarkable undertaking involved the resurrection of a former brownfield site, a testament to the collaborative effort between Roseland and the New Jersey Department of Environmental Protection (NJ DEP). Together, they implemented a rigorous clean-up program to ensure the land's revitalization.