Ironstate, in partnership with Roseland Property Company and The California Public Employees Retirement System (CALPERS) -- at the time the largest public pension fund in the country -- developed this 26-story residential tower along the Hudson Riverfront in Jersey City, NJ facing downtown Manhattan. Opened in 1997, Applied leased up all of the 295 rental residences in just 14 weeks, making it the area's most successful rental program of the year. The new tower rose next to Portside's West tower, which opened in 1995 with 230 residences. In addition to the luxury towers, the developers fashioned a new public walkway along the Morris Canal at the south end of the property facing the Statue of Liberty, creating a 450-foot waterfront esplanade, and built a new public park adjacent to the property along the Hudson River. The Towers at Portside rose from what was considered unusable land, a "brownfield" site that few felt had any potential. Portside's ownership partners invested over $100 million and reclaimed the property, creating a successful residential community that served as a catalyst for further redevelopment of the surrounding area.