FIRST NIAGARA PROVIDES $16.9M CONSTRUCTION LOAN FOR APARTMENT COMPLEX
HARRISON, N.J. — First Niagara’s Commercial Real Estate Group has closed on a $16.9 million loan with The Hampshire Companies for the construction of a 104-unit apartment complex on the site of the former David’s Cookie Factory in Harrison. The loan will finance the development of two four-story buildings at 400 S. Second St., which is part of the Harrison Waterfront Redevelopment Plan. Bergen Street Urban Renewal LLC, a joint venture between CrownPoint Group LLC and The Hampshire Companies, is developing the project, which is slated for completion in July 2015. Yvonne Ulrich of First Niagara is managing the transaction for the bank.