A major transformation along the Hudson River waterfront is one step closer to taking shape as the ambitious 615 River Road project in Edgewater secures a $255 million financing package to kick off its first phase. The sprawling mixed-use development, set to redefine one of North Jersey’s most prominent stretches of waterfront, will bring luxury residential towers, retail space, green parks, and a new ferry terminal to one of Bergen County’s most coveted addresses.
The project, led by The Maxal Group, has been years in the making. The 19-acre site at 615 River Road was once home to massive Hess fuel storage tanks before the property was acquired by Maxal in 2014. What followed was an extensive environmental cleanup to prepare the site for redevelopment and a lengthy legal and planning process that reshaped the project’s vision into what is now a $1 billion, multi-phase undertaking.
The newly secured $255 million construction loan will fund the first stage of the project: a 25-story, 381-unit luxury apartment tower designed by the renowned architectural firm FXCollaborative. The tower, featuring floor-to-ceiling glass, sleek modern design, and sweeping views of Manhattan and the George Washington Bridge, will anchor what is ultimately planned to become a trio of waterfront towers.
Once completed, the entire 615 River Road complex will span approximately 1.2 million square feet, encompassing 1,200 residential units, 20,000 square feet of retail space, and a series of public amenities designed to enhance community life in Edgewater. Plans also include 180 affordable housing units, making the development one of the most comprehensive mixed-use projects in North Jersey.
The financing, provided by S3 Capital and arranged by Galaxy Capital, marks a major milestone for a project that has been closely watched by both real estate insiders and local residents. “We see immense opportunity in financing transit-oriented residential developments adjacent to major city centers,” said S3’s managing director of origination, Steven Jemal. “This project’s innovative on-site ferry terminal will create lasting value for the entire Edgewater community.”
That new ferry terminal, one of the project’s most anticipated components, will connect residents directly to Manhattan’s West Side and Hudson Yards in about 15 minutes — a major convenience for commuters who want proximity to the city without the congestion. Plans also include two NJ Transit bus stops, providing additional public transportation access for the growing Edgewater population.
Beyond luxury apartments and convenient transit, the project also emphasizes sustainability and community benefit. The development will include sidewalk rain gardens, green spaces, and an expanded Hudson River Waterfront Walkway, improving pedestrian access and connecting the site to existing river trails. A two-acre park, named Edgewater Green, is also planned, offering residents and visitors scenic open space along the river.
As part of a broader agreement with the borough, the developers will donate approximately eight acres of land to Edgewater. This land is expected to be used for the creation of a new public school and additional open recreational areas, addressing two of the community’s most pressing needs — education and green space.
The Maxal Group’s founder and managing director, Bruce Sturman, described the project as a landmark for the region’s waterfront living experience. “We are extremely excited to work with S3 to bring another cutting-edge residential environment to the Hudson River waterfront,” Sturman said. “615 River will be an extraordinary living experience, with floor-to-ceiling glass showcasing unparalleled views of Manhattan and the George Washington Bridge. This project is truly setting a new standard for luxury and livability in Edgewater.”
While a groundbreaking date for construction has not yet been confirmed, the secured financing signals the strongest step forward yet for a project nearly a decade in the making. Once completed, 615 River Road is expected to stand among the most prominent residential communities on the New Jersey side of the Hudson, joining a rapidly evolving skyline that includes neighboring developments in Weehawken, West New York, and Jersey City.
Edgewater’s continued growth along the riverfront reflects a broader trend of high-end urban expansion throughout the Gold Coast. With the combination of proximity to New York City, modern design, and major public amenities, 615 River Road has the potential to reshape the town’s identity as a destination for both residents and investors alike.
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