No longer Newark's sleepy little brother across the Passaic River in Hudson County, Harrison is coming into its own as a magnet for developers and young families, the New York Post real estate section highlighted on Thursday.
Roughlyly 8,000 new residential units are slated to come to market in Harrison over the next decade, Mayor James Fife told The Post.
Add those new units to the 25,000-capacity Red Bull Arena that opened four years ago and the planned $256 million modernization of the town's PATH station, and Harrison is becoming a cool place to live, as well as invest.
The key: Location, location, location, according to Michael Barry, president of Ironstate Development, which, with The Pegasus Group, is building the mixed-used Harrison Station development next to the Harrison PATH station.
"Harrison is located on the PATH train, and that gives you direct access to Jersey City, New York City, and Newark," Barry told The Post. “So essentially from the [town’s] redevelopment area, you’re less than five minutes into Newark, about a 10- to 12-minute ride into Jersey City, and about a 20-minute ride into New York City.”
Thus far, the partners have completed a 275-unit rental building — with studios from $1,460, one-bedrooms from $1,820, two-bedrooms from $2,155 — and are currently putting up a 329-unit rental building scheduled to open next year.
They also last month opened a 138-room Element by Westin hotel as part of the project. When completed, the Harrison Station complex will comprise seven buildings, 2,250 residences and 80,000 square feet of retail space.