A New Jersey hotel that suddenly announced its pending closure earlier this week is officially under contract and is slated to be bought by a Garden State-based company with an eye on redevelopment.
Garden Homes, who are based out of Short Hills, is under contract to buy the distressed Bergen County hotel property at 200 Tice Boulevard in Woodcliff Lake. The parcel, which has been home to a Hilton for decades, spans 21 acres and is situated just off Chestnut Ridge Road not far from the Garden State Parkway.
The company is exploring a variety of redevelopment options after winning an auction for the property, which took place in November. No official plans have been announced just yet, but the Hilton hotel will be shuttering for good on February 26.
“For four decades, the Woodcliff Lake Hilton has been a center of community; no one wanted to see this property become yet another post-pandemic, stranded hospitality asset,” said Scott Loventhal, one of the firm’s developers. “We will approach its redevelopment thoughtfully and in a manner that will best serve the borough’s future, with the evolving real estate market in mind.”
Garden Homes has developed tens of thousands of for-sale homes and rental apartments over their seven decades in business, adding millions of square feet of commercial space to the region. Some of their recent projects include The Jefferson in Hackensack, The Dayton in Ridgewood, and Washington Promenade in Dumont.
The closure of the Woodcliff Lake Hilton has left some event planners scrambling. Per CBS News, several events including a sold-out car show planned for Labor Day weekend that expected 20,000 spectators will need to be relocated.