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 In 1994, Ironstate Development acquired Port Liberte from the Resolution Trust Company (RTC) which had assumed control of the defunct multi-family property from the original developer in 1992. Situated along Jersey City, NJ's Hudson Riverfront facing downtown Manhattan and the Statue of Liberty, the planned-1,290-unit community was trumpeted as the new "Venice for America" due to its series of deepwater canals meandering throughout the community that were designed for yachts. However, the cost-prohibitive expense of the canals, coupled with an unforeseen economic recession and an inexperienced development team, sank the project. Ironstate took control of the site and reconfigured much of the development's original master plan, eliminating the remaining canals, reworking the site to include an 18-hole championship golf course, and adjusting the land plan to include townhomes with garages and an increased build-out of 1,813 residences. In 1999, after an extensive replanning and approvals process, Ironstate re-launched Port Liberte, French for "haven of freedom" with a successful sales program that turned the once-failed project around, leading it to be named "Community of the Year" in 2000 by the New Jersey Builders Association. Today, nearly 1,000 homes have been built and sold at the community, which features innovative European-styled architecture, magnificent views of New York Harbor, Manhattan and the Statue of Liberty; an onsite ferry terminal offering service to Manhattan, and a multitude of private amenities, including a fully-equipped health club/fitness center overlooking the river, two resort-style swimming pools, tennis courts, children's play area, 24-hour gatehouse security, a retail plaza and restaurant, and a waterfront promenade.  |
