National Resources has received $12.5 million in financing from CIT Real Estate Finance to begin construction of Phase II of The Pearl, on the southern end of Edgewater, New Jersey. Given what has already been built, three residential buildings of five or six stories are likely in the works; phase II will total 63 residential units, per Commercial Observer.
Excavation is imminent at 67 Whippany Road — in Hanover, NJ, west of Newark — for the construction of a five-story, 185,000 square-foot office building that will house the headquarters of MetLife Investments, reports Real Estate Weekly. Rubenstein Partners and Vision Real Estate Partners are developing, and they are also planning additional mixed-use buildings to built-out the 94-acre campus.
NorthJersey.com reports that excavation has begun at 33 Park Avenue, in Jersey City’s Liberty Harbor area, where Fisher Development is building two 44-story mixed-use towers containing 900 residential units. Perkins Eastman’s design was revealed by YIMBY in February, the towers will be built in phases, and completion of the first building is expected by 2017.