Intercontinental Real Estate Corporation and Bijou Properties Launch New Luxury Rental Building in Hoboken, NJ

Hoboken Mayor Dawn Zimmer Leads VIP Contingent in Celebrating Opening of Vine, A New Residential Building Featuring 135 Homes Located Adjacent to the 9th Street Hudson Bergen Light Rail Station

HOBOKEN, NJ – Intercontinental Real Estate Corporation and Bijou Properties have announced the launch of Vine, a new 11-story building featuring 135 rental residences located at 900 Monroe Street in Hoboken, NJ.

Hoboken Mayor Dawn Zimmer joined fellow municipal officials, union leaders and development principals for a special ribbon cutting ceremony to celebrate the opening of the building, which is conveniently situated adjacent to the 9th Street Hudson Bergen Light Rail Station.  In addition to the new residences, Vine features 13,500 square feet of street-level retail space, occupied in part by a Daycare Center.  The developers are also creating an adjacent 7,000 square-foot public park.  The overall development will further the City’s vision of a vibrant commuter neighborhood on Hoboken’s western edge.

“Congratulations to the Bijou Properties team, Intercontinental Real Estate Corporation and all the professionals who put their heart and soul into making this project happen,” said Mayor Zimmer.  “Thank you for choosing the City of Hoboken and thank you for choosing northwest Hoboken and making this an even hipper place to live.  Vine includes green features that are really important.  This building has a green roof, a co-generation system and a backup generator, and I’m looking forward to it becoming a role model for our city, our state, and our country.”

The ribbon cutting event signifies the start of leasing for the upscale one-, two- and three-bedroom apartments which are available for immediate occupancy.  The Marketing Directors is the building’s marketing and exclusive leasing agent.

“We are very pleased and excited to open the doors to “Vine”, the newest luxury apartment development in the Hoboken neighborhood.  We are fortunate to have partnered with Bijou Properties in this deal and look forward to more New Jersey development projects on behalf of Intercontinental’s union and public pension partners, for whom we are grateful to work, seek to create investment returns and fair wage and benefit jobs,” said Peter Palandjian, Chairman & CEO, Intercontinental Real Estate Corporation.

The Vine project generated more than 125 union construction jobs during development and has been built in accordance with the U.S. Green Building Council’s (USGBC) standards for LEED ® certification.  Vine will be the fourth LEED-certified building introduced by Bijou Properties in the City.

“We’re delighted to introduce Vine to Hoboken and to see our collective vision for this new residential offering become a reality,” said Larry Bijou, Managing Partner of Bijou Properties.  “People from throughout the region are drawn to live in Hoboken, and what drives us as a company is taking a broader approach to neighborhood development by creating properties and complementary amenities and services that promote a healthy, sustainable, transit-oriented -lifestyle that benefit our residents and the community at large.  We believe Vine will do just that.”

Designed by Marchetto Stieve Higgins Architects, the distinctive building offers rental residences which boast a number of designer and energy-efficient features, including sustainable bamboo flooring, oversized windows, kitchens and baths with modern fixtures, Frigidaire and Bosch Energy Star appliances, granite countertops and modern cabinetry; and lavish baths with recycled porcelain tile. Some apartments also provide an additional den.  Monthly rents begin from the $2,800s.

A full suite of amenities include a state-of-the-art gym, outdoor pool and sundeck, clubroom, fitness center, landscaped roof terrace, bike storage and a 135-car onsite automated parking facility.

Situated just steps from the 9th Street Light Rail Station, Vine blends an upscale living experience with the convenience of quick access throughout New Jersey’s Hudson River “Gold Coast,” including Hoboken’s PATH, New Jersey Transit and Ferry terminals with service to Manhattan.

Two decorated model homes are available to tour at Vine.  For additional information, please visit www.vinehoboken.com or call 201-386-VINE (8463). The onsite Leasing Office is located at 900 Monroe Street, Hoboken, NJ 07030.

About Intercontinental Real Estate Corporation

Intercontinental Real Estate Corporation is an SEC Registered Investment Adviser with decades long experience in real estate investment, finance, development, construction management and asset management. Since 1959, Intercontinental has managed, developed, or owned over $10 billion in real estate property. Today, Intercontinental manages a portfolio in excess of $4 billion for its clients. The Intercontinental portfolio is diversified both by robust property mix and by geography. Fund strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects.

About Bijou Properties

Founded in 1999 in Hoboken NJ, Bijou Properties designs, develops & manages the highest quality sustainable buildings and has become a recognized leader in the field of green development along the Hudson Waterfront.  Recent projects include Park + Garden, Garden Street Lofts (NJ’s First LEED Gold Residential Highrise), The Hostess Factory, a 42,000 square-foot retail restoration including a 20,000 square-foot Green Roof; and Edge Lofts, a Midrise residential project at 1405 Clinton Street which is a candidate to receive the first NJ LEED Residential for Homes Platinum designation.  Beyond its individual properties, Bijou Properties is focused on creating better neighborhoods and healthier environments for the community at large.  More information can be found on the company website: www.bijouproperties.com.

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