With infrastructure work for its first phase about 50% complete, Advance Realty announced that construction is moving ahead at the Riverbend District. The project is the redevelopment of the former Harrison MetroCentre in Harrison, NJ, which was declared a Brownfield.

The first component of the massive mixed-use project is the 25,000-seat Red Bull arena, planned to open in spring 2010. Following this, Phase I of vertical construction on the Riverbend District is scheduled to begin in 2010 and will feature more than 800,000 square feet of retail space, including an anchor grocery and retailers, a 16-screen cinema and notable restaurants; a 175-room hotel and a 350-room hotel with 25,000 square feet of conference space; a wellness center; corporate and boutique office space; and approximately 1,900 residential units.

Considered a Transit Oriented Development (TOD), the Riverbend District is within close proximity to multiple modes of mass transit, including N.J. Transit, Amtrak and a centrally located, onsite PATH station that will benefit from a $180 million renovation program to improve service, allowing easy access to Newark Penn Station. The district is also only 15 minutes by train to Manhattan, is highly accessible by all major roadways in Northern New Jersey, and is just minutes from Newark Liberty International Airport via rail service or car.

CoStar's Retail News Roundup: Nov. 1 - 7, 2009
This week in the Retail Roundup, CoStar reports on expansions or new concepts at Prime Retail and Edible Arrangements; closings, cutbacks, defaults, or bankruptcy news at Movie Gallery and more; acquisition, merger, loan, sale, or IPO activity at USAA, Martinsburg Mall, Vitamin Shoppe, and Rubios; new retail development news in NJ; personnel or corporate announcements at NAI Capital and Sonic; sustainability and green building news at Arby's and Chipotle; and more.