One of the last remaining vacant lots along Port Imperial is slated to house a new multi-family complex as two developers are teaming up for the latest endeavor along the West New York waterfront.
Toll Brothers City Living and Daiwa House have announced a joint venture for developing a new luxury condominium community that will be known as Vista Pointe. The project is situated at 8 Avenue at Port Imperial at a sizable parcel located just in front of Nine on the Hudson.
Vista Pointe is poised to become a nine-story, 73-unit luxury condominium community that includes one- to four-bedroom residences. The sizes of these for-sale units will range from 988 to 2,235 square feet.
Planned amenities at the complex include 11,000 square feet of indoor space consisting of a 24-hour staffed lobby, a residents’ lounge with a dining room and catering kitchen, a game room, fitness center, screening room, children’s playroom, and maker space.
According to the Hudson Reporter, West New York approved what will become Vista Pointe in 2021. The following year, township officials granted the project a 20-year tax abatement.
According to the abatement ordinance, West New York found that the projected Annual Service Charge over the 20-year term will generate an average annual revenue of approximately $2.1 million for the town.
As the managing member and development lead, Toll Brothers is overseeing the project’s approvals, design, construction, and sales. The joint venture has secured an acquisition and construction loan from Bank OZK.
The companies did not announce any potential timeline as to when construction could begin at the property, which already has a waterfront walkway built to the east along the Hudson River.
