After a few years in planning, designing and trying to find retail to lease up the locations, Oneill Properties is finally going to break ground for their Luxury Point Mall complex in Sayreville NJ. This location is right before the Driscoll Bridge going north on I-95 and is around 25 minutes from Manhattan. The plans are showed to become the “most significant waterfront retail, entertainment, and living experience available anywhere in the Northeastern United States.” The project will be a, 5 million square feet of approved smart brownfield redevelopment in the heart of New Jersey. To become the most iconic retail center in the US, Oneill Properties designed the property to feature, Indoor luxury retail, Luxury Mall Anchors, entertainment venues, waterfront dining, hotels, office space, power center and upscale residences and more.

O’Neill Properties Group, LP, founded in 1988 by J. Brian O’Neill, is a leading privately owned real estate development company specializing in identifying and acquiring abandoned or underutilized industrial sites, remediating and transforming them into high-quality, Class A commercial space or luxury multifamily live, work, and play communities. They are also own a property in South Amboy, the town over, were they plan to build luxury apartments and townhomes in the near future. The project in South Amboy is called The Manhattan Project. The big thing that will put this luxury mall over any others in the US, like the Aventura Mall in Florida or the King of Prussia Mall in Pennsylvania, is the fact that it has up to 3 miles of waterfront and 3 big marinas. Also, the developer looks to, in stages, build around the complex condos, apartments and townhomes. Also, they are in the process of purchasing the old and vacant, Amboys Cinema, that hasn’t been touched since 2007.

With a huge project like this, there are a lot of pros and cons about the property.

Pros-

  • Luxury Mall in the heart of New Jersey
  • 3 Marinas
  • Luxury apartments, townhomes and condos in a growing county
  • Location of the mall near the Garden State, and few miles away from Turnpike
  • Potentially top mall on the east coast

Cons-

  • Garden State Mall Failure
  • Is it fully needed?
  • Affect traffic on Garden State
  • Seems like a seasonal spot for people to live there
  • Overpopulate the city of Sayreville and South Amboy

Not allowing me to upload pictures. But check out this website has amazing pictures of the future site, site plans and more.

http://luxurypoint.com/about/

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