FORT LEE, N.J. — A partnership led by Tucker Development Corp. has secured $218 million in financing for the first phase of Hudson Lights, a 1 million-square-foot, mixed-use redevelopment in Fort Lee. Savills US arranged the debt and equity financing, including a $117 million construction loan from Sovereign Santander Bank. Tucker will soon begin construction on the first 517,000-square-foot phase, including 143,000 square feet of retail, 864 parking stalls and 276 luxury apartments. Tucker Development is building Hudson Lights with its development partner, KRE Group, and Ares Management. Tishman Construction Corp. is serving as the development’s general contractor. KRE Group will also assist with property management for the development’s residential portion upon completion. Robert K. Futterman & Associates is serving as the development’s exclusive retail leasing agent. Hudson Lights, designed by architecture and planning firm Arquitectonica, is the western portion of a 16-acre site in Fort Lee undergoing comprehensive redevelopment. The second phase of Hudson Lights will include an additional 201 residential units, about 50,000 square feet of retail space and parking and a 175-room hotel.
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