Ironstate Development

DAVID   &  MICHAEL BARRY

BUILDERS WITH A SENSE OF COMMUNITY

BY HEATHER LAUDE
PHOTOGRAPHS BY ERIK RANK / NEW WORLD CROUP

Real estate development encompasses many things: acquisition, planning, architecture, construction, marketing and more. Perhaps one of the most overlooked aspects of the business, though, is community – but Ironstate Development, a Hoboken, NJ- based firm, has been actively working to change that.

Known for a large portfolio of projects ranging from apartments to upscale hotels, Ironstate Development is led by principals David Barry and Michael Barry, two brothers from Maplewood, N.J. The Barrys learned the ins and outs of the business from their father, an affordable housing developer, and evolved that knowledge to develop some of the most noteworthy projects in the area: The W Hoboken Hotel and Residences and The Shipyard in Hoboken, Pier Village and The Bungalow Hotel in Long Branch, and 225 Grand and Port Liberie in Jersey City. The company is actively involved in over $1 billion worth of residential, retail, and hospitality space.

Ironstate Development’s philosophy is to treat each of its projects individually. The company examines each community through its exisiting architecture, culture and infrastructure and designs its developments to complement and add to what makes each community unique.

“It’s important to respect the community you’re in,” Michael Barry said. “When the development work is complete, this finished product becomes a part of a neighborhood’s fabric for decades to come.” It’s clear that Ironstate wants its impact on each community to be a positive one. From adding valuable infrastructure – like a midtown and downtown Manhattan ferry stop at The Shipyard in Hoboken – to conforming to Leadership in Energy and Environmental Design (LEED) standards at some of its projects like Berkshire at The Shipyard, their commitment to community is evident.

And that commitment remains long after building is completed. For example, at Riverwatch Commons, an apartment development completed in 1997, the company is working now to retrofit the project with solar panels to provide power for the building’s common areas including lighting, elevators and water heaters.

“We’re trying to be good stewards of the environment,” Michael Barry said. “It’s beneficial for everyone- short term and long term.”

One of Ironstate’s most recent and noteworthy projects is the W Hoboken Hotel and Residences, located on the Hudson River waterfront. The project is a case-in-point for Ironstate’s development philosophy.

Operated by Starwood Hotels & Resorts Worldwide Inc., the 25-story, 225-room hotel offers a vast array of amenities including W’s signature Living Room experience, The Chandelier Room nightclub featuring panoramic views of Manhattan, a 5,000 square foot Bliss Spa, and is one of the few luxury hotels to allow pets. It also features 40 luxury condominium residences on the top floors offering every amenity of hotel Iiving. But perhaps its most important feature is that it is the only hotel in Hoboken. The city, only about 1 square mile in size, had a lot to offer by way of social, cultural, commercial and residential activity, but what it was lacking was a hotel.

“The hotel added a whole other dimension to Hoboken,”Michael Barry said.’It’s s place where guests or business travelers can stay, but it’s also a place where you have social events and meetings-almost an extension of a town hall.”

Having just celebrated its successful first year open for business, W Hoboken has attracted world class athletes, hosted A-list celebrities, and offered guests everything that the prime location of downtown Hoboken has to offer, including the designer boutiques, eclectic restaurants, and vibrant nightlife the town is famous for. Although perhaps the best attribute of the hotel is its front row seat to the incomparable views of Manhattan’s famous skyline.

While the views from the hotel were important to Ironstate Development, its impact on the Hoboken skyline was given the same attention. Both David and Michae] Barry believe that architectural compatibility of their projects is vital to ensure each new building compliments the exisiting ones. The brothers knew that W Hoboken would be a focal point since it’s right on the river, so they took care to design the project with that in mind. This careful planning and attention to detail earned the Barry’s Starwood’s’Deal of the Year Award-Excellence in Development in 2009.”W Hoboken was chosen as the winner of The Deal of the Year Award in the Luxury and Design category, reflecting excellence in the development of the new hotel and the successful collaboration between Ironstate Development’s corporate team and Starwood representatives to ensure that development was on-time, on-strategy, and on-budget.

“We don’t have a one-size-fits-all approach;’ David Barry said. “Different sites demand different approaches to design, and we try to take a site and use our expertise and creativity so it reaches its full potential.”

When the Barrys aren’t working, they’re still just as involved in their communities. Both brothers are active supporters of the Hoboken Historical Museum & Cultural Center, and Michael serves as a Board Member on the organizations Board of Trustees. Michael is also involved with the Hoboken Jubilee Center, an organization that provides an after school and summer safe haven for children in Hoboken’s public housing neighborhood.

“I’m involved because I find it to be interesting and worthwhile,” Michael Barry said. “It’s’doing well by doing good. It’s important to me.”

David Barry serves on the board for Beat the Streets, an organization that works to expand and develop wrestling programs in the New York City Metropolitan area from the youth through the Olympic levels. Beat the Streets has successfully created more than 60 wrestling programs in the last five years. David was a wrestler at Columbia, and his passion for the sport drove him to get involved. “I credit wrestling with much of my personal development. I love the sport, and for that reason I stay very connected and involved in supporting our nation’s amateur wrestlers,” he said.

In addition to Beat the Streets, David also volunteered to be a Team Leader for the USA Wrestling Team for the 2012 Olympics.The position includes fund-raising, mentoring and working with USA Wrestling to provide training environments as they identify talent for the upcoming Olympics. Real estate development is sometimes viewed as a cold, profit-centered business, but Ironstate is doing its part to show that profits might just be more attainable if care and compassion for communities is exercised. The company works to balance the business with respect for local Culture, and through that philosophy, has been successful in creating one-of-a-kind projects.

“We believe that our projects transform neighborhoods,” David Barry said. “Our goal is to create projects that are credits to the community in which they exist.” For more information about Ironstate Development, visit www.ironstate.net